Fort Worth Boosts Affordable Housing Efforts with Revised Housing Tax Credit Guidelines

The City of Fort Worth is ramping up efforts to bolster its affordable housing stock by revamping the guidelines for Housing Tax Credits (HTCs), following a unanimous City Council vote in favor of proposed policy changes. As reported on the

City of Fort Worth’s official website

, these HTCs are part of a federal initiative managed within Texas by the Texas Department of Housing and Community Affairs (TDHCA). They’re designed to lighten the financial load for private developers aiming to either create new or improve existing affordable housing developments.

Developers eyeing either the 9% tax credits for new projects or the more accessible 4% credits, commonly used for refurbishments, must adhere to city-imposed standards to be eligible. Yesterday’s meeting sealed the approval for key updates including the introduction of a hold harmless zoning letter, enhanced community notifications, and a streamlined process for orchestrating information sessions. According to the City’s notification requirement, developers must now contact the Development Services Department directly to request the aforementioned letter, with late requests following submission deadlines facing rejection.

One notable revision includes broadening the scope of community involvement. Now, developers are obliged to notify not only homeowners and neighborhood associations but also neighborhood alliances. This is in a determined effort to rope in a wider audience for discussions regarding incoming projects. The Community Engagement Office is stepping up its game as well by promising to bridge the gap between developers and these sessions within a week, slashing the previous two-week wait time in half.

Perhaps, the most significant operational shift comes in the form of rolling applications for the 4% HTC applications. The City of Fort Worth has discarded the rigid quarterly deadlines, opting instead for a more fluid, year-round submission process. Seeking to simplify procedures, the city anticipates this move will lead to swifter turnarounds and greater ease for developers in need of these tax credits for their housing projects. They must submit their applications by Jan. 3, 2025, to meet the City’s notification requirements.

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