Department: Housing and Community Development
Department Head/Elected Official: Thao Costis, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Award
Project ID (if applicable): Lost Oaks
Vendor/Entity Legal Name (if applicable): Mark-Dana Corporation
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request by Housing and Community Development for approval to decrease the purchase price and increase eligible pre-development costs without increasing the maximum amount of the previous conditional award of up to $4,528,000 of the American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds to purchase the land for the Lost Oaks Project for the Harris County Housing Finance Corporation.
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Background and Discussion:
On March 26, 2024, Mark-Dana Corporation previously requested and was conditionally awarded up to $3,100,000.00 in ARPA State and Local Fiscal Recovery Funds for the acquisition and development of a new multi-family affordable housing development called Lost Oaks located at 810 Oak Street, Houston 77018. Mark- Dana Corporation was awarded 9% LIHTC Tax Credits by Texas Department of Housing and Community Affairs (TDHCA) in 2023. The total development costs for Lost Oak are $26,044,410.
On June 4, 2024, Mark-Dana Corporation previously requested and was conditionally awarded up to $4,528,000 in ARPA State and Local Fiscal Recovery Funds for the acquisition and development of a new multi-family affordable housing development called Lost Oaks located at 810 Oak Street, Houston 77018. Mark- Dana Corporation was awarded 9% LIHTC Tax Credits by Texas Department of Housing and Community Affairs (TDHCA) in 2023. The total development costs for Lost Oak are $26,044,410.
On September 19, 2024, Mark-Dana Corporation previously requested t...
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