Travis County Commissioners Court
March 29, 2005
Item 29
29. Consider and take appropriate action on request to approve resolution supporting a tax credit application by a.t. South first-slaughter, lp with the Texas department of housing and community affairs for an affordable housing development located at 9401 s. First street. Here in Austin.
>> yes, sir.
>> all right. Okay. I’m here with manesh burma representing the development company. They are requesting that the board approve the resolution for their tax credit application with Texas department of housing and community affairs. This is a 9% tax credit program. Which means that they -- that they are -- if they are successful, then the investors save tax credit, an income tax critical to 9% of the building costs of the apartment complex that is devoted to low income tenants, this 9 percent credit lasts for 10 years. I -- I have talked to -- to various neighborhood associations, they have -- they have not supported or opposed this apartment complex. They have some concerns about schools and bus services and -- but they recognize that the land is -- is zoned for multi-family and they don't really have any opposition to the program. I did also talk with merced housing, a non-profit housing corporation out of san antonio who has done a project with this company in corpus christi, they were very satisfied with the program. So -- so mr. Burma is here to answer your questions on his request.
>> is this the only application that you will be making in the -- i'll call it the Austin area if.
>> that is correct.
>> okay.
>> because we visited about a different project but I think it was not going to -- going to go forward. This one --
>> so your company has -- has affordable housing units elsewhere in Austin?
>> not in Austin. We have -- we have two other projects, one in san antonio and one in corpus christi.
>> as far as we know, they are doing all right, mr. Davis, or do we know?
>> as far as I know, I did call the -- the other project that they had, but I did not receive a return call from the -- from the -- from the people that owned the apartment, another non-profit corporation. I will add that this project is -- is planned as a -- as a for profit owner, they will be paying full property taxes.
>> now, if they don't return the phone call does that mean that they are all right or not all right. Trying to figure out how to read that.
>> I don't know.
>> no news is good news.
>> well, and -- when I got the call, I said well probably it would be best to put it on the Commissioner Daugherty agenda so that the whole court would have an opportunity to comment. So if there were no other questions, then I would move approval.
>> second.
>> discussion? All in favor? That passes by unanimous vote.
>> thank you.
>> good luck to ya.
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Last Modified:
Wednesday, March 30, 2005 12:50 PM