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
EnnisVendor/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.
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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 bet...
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