Department: Community Services
Department Head/Elected Official: Thao Costis, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Award
Project ID (if applicable): New Hope Housing Ennis
Vendor/Entity Legal Name (if applicable): Houston Area Community Development Corporation/New Hope Housing
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 Community Services for approval to conditionally award up to $9,000,000 in American Rescue Plan Act (ARPA) State and Local Fiscal Recovery Funds (SLFRF) to purchase land for the New Hope Housing Ennis project for the Harris County Housing Finance Corporation with a maximum purchase price of $4,400,000, and to negotiate and execute a loan agreement in an amount up to $4,600,000 in ARPA SLFRF for eligible development costs for the project.
end
Background and Discussion:
Houston Area Community Development Corporation is requesting up to $9,000,000.00 in ARPA Local Fiscal Recovery Funds for the acquisition and development of a new elderly multi-family affordable housing development called New Hope Housing Ennis located at 1887 Ennis Street Houston, Texas 77003. Houston Area Community Development Corporation was awarded 9% LIHTC Tax Credits by TDHCA in 2021. Due to increase in insurance rates, interest rates, and construction costs, this project is no longer viable without partnering with Harris County and receiving ARPA Local Fiscal Recovery Funds. The total development costs for New Hope Housing Ennis are $ 31,001,096.00.
The New Hope Housing Ennis Project will create 102 new elderly Multi-Family Affordable Housing Units. The unit mix will consist of 11 units for those making 30% or less of Area Median Income, 42 units for those making between 31%-50% of Area Median Income, and 49 units for those making between 51%-60% Area Median Income. The Project will consist of 77 one-bedroom units, and 25 two-bedroom units. The HCHFC will own the land and the Project will enter a 99-year ground lease, which will keep the project affordable for 99-years. The Harris County Housing Finance Corporation has agreed to enter the General Partnership of this Project and receive Equitable Title.
Expected Impact:
The expected impact is to transfer the $4,400,000.00 in ARPA Local Fiscal Recovery Funds to the HCFC to acquire the land for the New Hope Housing Ennis Project and give a conditional commitment of $4,600,000 in ARPA Local Fiscal Recovery Funds to the New Hope Housing Ennis Project for eligible development costs.
Alternative Options:
The alternative option is that the project will not move forward.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_X Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
_ Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
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Location:
Address (if applicable): 1887 Ennis Street Houston, Texas 77003
Precinct(s): Precinct 1
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Fiscal and Personnel Summary |
|
Service Name |
Affordable Rental Housing |
|
|
FY 24 |
FY 25 |
Next 3 FYs |
|
Incremental Expenditures (do NOT write values in thousands or millions) |
|
Labor Expenditures |
$ |
$ |
$ |
|
Non-Labor Expenditures |
$9,000,000 |
$ |
$ |
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Total Incremental Expenditures |
$9,000,000 |
$ |
$ |
|
Funding Sources (do NOT write values in thousands or millions) |
|
Existing Budget |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
|
Additional Budget Requested |
|
2651 - American Rescue Plan 2021 |
$9,000,000 |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
|
Total Additional Budget Requested |
$9,000,000 |
$ |
$ |
|
Total Funding Sources |
$9,000,000 |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
Current Position Count for Service |
- |
- |
- |
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Additional Positions Requested |
- |
- |
- |
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Total Personnel |
- |
- |
- |
Anticipated Court Date: October 31, 2023
Anticipated Implementation Date (if different from Court date): N/A
Emergency/Disaster Recovery Note: COVID-19 related item
Contact(s) name, title, department: Sam Borders, Director, Multi-Family Housing Development, Harris County Community Services Department
Attachments (if applicable): Order