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• <br />.L We have also heard, but have yet to confine, that new legislation (effective January 1) <br />removes 50% of the local tax revenues for Housing Tax Credit Projects if the applicant <br />partners with anon-profit. We will try to have that answer by the April 26 Council <br />Meeting. <br />~. TDHCA invites input at any time during the process. They have also established a Public <br />Hearing for the Houston Region on April 21, 2004 at the Houston City Hall Annex <br />Chambers (notice is attached). <br />~. The staff receives requests from developers to support their tax credit applications. We <br />also hear from other elected officials wanting to know if the City is supporting these <br />projects. All responses to date have just dealt with notification of the zoning issues for <br />the Bayforest and Fair Mist projects. <br />•k If Council wishes we will construct a letter stating the Council's position for these <br />projects and advise other officials that have contacted us. <br />d. FYI: I have enclosed Frequently Asked Questions regarding the Housing Tax Credit <br />Program, taken from the TDHCA website. Obviously these questions don't deal with the <br />issue of a local Housing Authority also participating in fanancing and ownership. <br />JJ/ml <br />c: Debra B. Feazelle, City Manager <br />Cynthia Alexander, Assistant City Manager <br />Nick Finan, Interim Planning Director <br />Dr. Molly Helmlinger, LPISD Superintendent <br />Planning and Zoning Commission <br />TIRZ #I Board <br />