Title
Conduct a public hearing and consider a resolution providing no objection for Torrington Briarwood, LP’s application (through developer JPI Affordable Development, LLC) to the Texas Department of Housing and Community Affairs (TDHCA) for Non-Competitive 4% Housing Tax Credits for the construction of an approximately 313-unit affordable multi-family rental housing development to be located at or about 23701 Lyndon B. Johnson Freeway, in accordance with Chapter 2306 of the Texas Government Code, and authorizing the City Secretary to certify the resolution to the TDHCA.
Body
Before the Texas Department of Housing and Community Affairs (TDHCA) may approve an application for housing tax credits for developments financed with private activity bonds, the governing body of a municipality in which the proposed development is located must conduct a public hearing to receive information and public comment on the proposed development, and then pass a resolution stating the governing body does not object to the proposed application.
On September 16, 2024, JPI Affordable Development, LLC made a presentation to the Mesquite Housing Finance Corporation (HFC) seeking participation and financing for a proposed 313-unit affordable multi-family rental housing development to be located at 23701 LBJ Freeway in Mesquite. On October 7, 2024, the HFC Board unanimously passed a bond inducement resolution authorizing JPI to file an application for up to $50 million in private activity bonds with the Texas Bond Review Board (TBRB).
On January 14, 2025, the TBRB issued a Certificate of Reservation (Docket Number 5291) accepting Torrington Briarwood’s bond application filing and reserving $50 million in private activity bond allocation to the HFC for financing the proposed development.
This public hearing is an opportunity for the City Council to receive information on the development and seek input from the public prior to the HFC issuing bonds on June 2, 2025. The City Council may still object to the approval of the HFC bond sale, but if City Council is not in favor of this development proceeding, then City staff would prefer that such action be taken at this meeting rather than at the June 2 meeting after the negotiated pricing of the bonds.
If the City Council does not pass this Resolution of No Objection, then Council will also need to deny the resolution approving the issuance of tax-exempt obligations by the HFC, which is the next item on tonight’s Council agenda.
Recommended/Desired Action
Conduct a public hearing and approve the Resolution of No Objection.
Attachment(s)
Resolution
Texas Bond Review Board Certificate of Reservation
Drafter
Ted Chinn
Head of Department
Ted Chinn