The Fort Worth City Council unanimously approved updates to its Housing Tax Credit (HTC) guidelines, making it easier for developers to create or improve affordable housing in the area. HTCs, managed in Texas by the Texas Department of Housing and Community Affairs (TDHCA), offer developers federal tax credits to offset costs, with 9% credits available for new projects and 4% credits for renovations or smaller developments.
The approved changes to Fort Worth’s HTC guidelines include:
- Hold harmless zoning letter: Developers are now required to request this letter directly from the Development Services Department, with requests after the deadline no longer accepted.
- Expanded community notifications: Developers must now notify neighborhood alliances, in addition to homeowners and neighborhood associations, to broaden public awareness of new projects.
- Faster developer introductions: The Community Engagement Office will respond to developers within one week, reducing scheduling time for information sessions.
- Rolling applications for 4% credits: Developers can now submit applications for 4% HTCs year-round, instead of quarterly.
Key dates for the 2025 application process include:
- City notification deadline: Developers applying for 9% credits must submit by January 3, 2025.
- Information sessions: Required information sessions must also be held by January 3, 2025.
- City staff recommendations: Scheduled for presentation during the City Council work session on February 4, 2025.
- City Council decision: Councilmembers will vote on HTC applications on February 11, 2025.
- Developer submission deadline: Final applications for 9% credits are due by February 28, 2025.
These updates aim to streamline the process and enhance community engagement in affordable housing projects throughout Fort Worth.
