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 advi...
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