SUBJECT
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Authorizing the City Manager to support a resolution for the proposed development of affordable rental housing known as The Enclave at Riverbank, located near the northwest corner of Riverbank Dr. and Elk Dr., Laredo, Webb County, Texas. COL Housing Riverbank, LP has advised the City that it intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) for the 2026 Competitive 9% Housing Tax Credits, and other matters incident thereto.
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PREVIOUS COUNCIL ACTION
City Council has previously considered and approved resolutions of support for Housing Tax Credit applications submitted to the Texas Department of Housing and Community Affairs (TDHCA) for affordable housing developments.
BACKGROUND
OL Housing Riverbank, LP, in partnership with NeighborhoodWorks Laredo and Madhouse Development, Inc., has proposed the development of an affordable rental housing community for families to be known as The Enclave at Riverbank. The proposed development would be located near the northwest corner of Riverbank Drive and Elk Drive in Laredo, Webb County, Texas.
The proposed project will be situated on approximately 3.37 acres and is anticipated to include approximately 48 affordable apartment units consisting of a mix of two- and three-bedroom units. The development is intended to serve families seeking affordable housing options and will include amenities such as a clubhouse and leasing office, a multi-purpose community room, computer and internet access, and controlled site access. The project is designed to incorporate energy-efficient features and appliances consistent with sustainable construction practices.
The property is currently zoned R-1A and is anticipated to require rezoning to R-3 (Multifamily) or development under a Planned Unit Development (PUD), as well as a parking variance, which would be pursued through the City’s established land use and development review processes.
COL Housing Riverbank, LP has advised the City of Laredo that it intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) for the 2026 Competitive 9% Housing Tax Credit program to support the construction and development of the proposed project. In accordance with TDHCA requirements, the Applicant has requested a Resolution of Support from the City of Laredo for inclusion in its application.
VIVA LAREDO PLAN ALIGNMENT
Alignment Rating: STRONG
Supporting goal(s)/policy(ies):
• Policy 5.3.1 - Facilitate the development of a range of housing types and price levels to meet the needs of all residents.
“Encourage and facilitate the development of a range of housing types and price levels to meet the needs of all residents including workforce, affordable, and market rate housing.”
(Viva Laredo Comprehensive Plan, p. 5.14)
→ The project proposes 48 affordable units for families, directly contributing to the supply of affordable rental housing options in Laredo.
• Goal 5.3 - Increase the supply of safe, affordable, and quality housing options throughout the community.
“Increase the supply of safe, affordable, and quality housing options throughout the community.”
(Viva Laredo Comprehensive Plan, p. 5.14)
→ The Enclave at Riverbank project explicitly supports this goal through its planned 9% tax credit application and energy-efficient design.
• Policy 5.3.2 - Support housing that accommodates various household sizes and compositions.
“Support development of housing that accommodates various household sizes and compositions, including families, individuals, and seniors.”
(Viva Laredo Comprehensive Plan, p. 5.14)
→ The inclusion of two- and three-bedroom units accommodates diverse family structures.
• Policy 5.3.4 - Promote infill development and reuse of underutilized properties for housing.
“Encourage new housing development in areas with existing infrastructure or vacant and underutilized land to reduce infrastructure costs and support revitalization.”
(Viva Laredo Comprehensive Plan, p. 5.15)
→ While exact infrastructure details are not provided, the project’s urban location suggests compatibility with this policy encouraging infill development.
Summary of alignment: The resolution in support of the Enclave at Riverbank aligns strongly with the Viva Laredo Comprehensive Plan’s stated policies and goals to expand affordable housing availability across a variety of household types and incomes. It directly supports Goal 5.3 and multiple associated policies, particularly in promoting housing diversity (Policy 5.3.1), accommodating family needs (Policy 5.3.2), and leveraging urban land for development (Policy 5.3.4).
The project’s emphasis on affordability, energy efficiency, and community-focused amenities reflects the Plan’s broader planning themes including equity, sustainability, and housing quality. The support resolution is a key enabling step for tax credit funding, without which the project’s affordability objectives may not be realized.
COMMITTEE RECOMMENDATION
N/A
STAFF RECOMMENDATION
recommendation
Staff recommends this resolution be approved.
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Fiscal Impact
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FINANCIAL IMPACT:
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