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•. <br />City of La Porte <br />L <br />O~ 40 <br />~ F~~ <br />~ / . ~~ <br />-a.. <br />Tyne <br />Interoffice Memorandum <br />To: 1Vlayor and Coun ' ~ ~'~ <br />From: John Joerns, Ass 'a t City Manager <br />~.;; <br />Date: Apri15, 2004 ~`~~ '_ <br />~~ <br />Subject: Texas Department of Housing and Community Affairs (TDHCA) <br />Notice of Applications Update <br />12E: Previous Materials Forwarded <br />Background <br />The City has been notified by TDHCA of three applicants for Housing Tax Credits: <br /> Ha. Co. Housing Authority <br />Pro'ect Name Zonin Issue Fundin and Ownershi <br /> Requires amendment to <br />1) Ba orest Ranch existin SCUP; Status - (1 Pro osed <br /> Requires zone change <br />2) Fair Mist R2 to R3; Status - 2) Pro osed <br />3) Alexander Ride R3 zonin in lace No not that we are aware of) <br />(1) Withdrew rega~est prior to March 29 Planning & Zoning Meeting. <br />(2) At March 29 meeting, Planning & Zoning Commission recommended denial of R3 <br />zoning, Scheduled for City Council consideration Apri126. <br />~ For two of the projects the current zoning (or SCUP) is not appropriate. <br />.L Staff has also learned that Harris County Housing Authority plans to provide funding for <br />both the Bayforest Ranch and Fair Mist projects and to become the owner of the projects. <br />1. If this occurs without other agreements in place, then property will become tax exempt <br />and City would not receive any tax revenue. This situation is amplified for the Bayforest <br />project because it is located within the City's Tax Increment Reinvestment Zone. In this <br />case the tax increment lost would include the City's $.71/100, LPISD $1.63/100 and <br />Hams County $.39/100 for the remaining life of the TIRZ (23 yeazs) or until/if sold to a <br />private concern. <br />.~ I have written Harris County Housing Authority regarding this concern (letter attached). <br />