Board Bill Number 104 In Session 2022-2023

Redevelopment Plan for the 3401 Goodfellow Blvd Area

Summary

This Board Bill seeks to approve a Chapter 99 Redevelopment Plan and Blighting Study for the 3401 Goodfellow Blvd Area. The project consists of the renovation of 11 residential buildings in the Wells/Goodfellow neighborhood. The prospective redeveloper plans on renovating all 146 units ranging from 2-3 bedrooms, at the cost of $ 30.5 million. The redeveloper plans to utilize Affordable Housing Trust Fund, Nat'l/Affordable Housing Trust Fund, LIHTC and private funds for this project. The financial model concludes that the project supports fifteen (15) years of tax abatement (10) years based on 95 percent of the assessed value of the incremental improvements and followed by (5 years based on 50 percent of the assessed value of the incremental improvements) and the LCRA Board concurs. This Board Bill will allow fifteen (15) years of tax abatement (10 years based on 95 percent of the assessed value of the incremental improvements and followed by (5 years based on 50 percent of the assessed value of the incremental improvements).

Download

Latest Bill text:

Overview

Session: 2022-2023

Introduced: 10/21/2022

Primary Sponsors: Norma Walker

Latest Activity: Register Returns Notice with Ordinance Number

Ordinance: 71596 effective 01/20/2023

Legislative History

Legislative activities and outcomes for this board bill. Learn more about what these activities mean.

  • 10/21/2022

    First Reading

    Bill text was introduced (1.95 MB PDF).

  • 10/21/2022

    Referred to a Committee

    The bill was assigned to the Housing, Urban Development and Zoning Committee.

  • 11/17/2022

    Committee Hearing

    The bill was passed out of committee with a recommendation of do pass during the Housing, Urban Development and Zoning Committee hearing.

  • 11/18/2022

    Second Reading

  • 12/01/2022

    Perfection

    The bill was passed.

  • 12/09/2022

    Engrossment

    The bill was engrossed during the Engrossment, Rules, Resolutions and Credentials Committee.

  • 12/09/2022

    Third Reading

  • 12/09/2022

    Delivered to Mayor

  • 12/20/2022

    Mayor Returns Bill

    The bill was approved.

  • 12/20/2022

    Delivered to Register

  • 12/29/2022

    Register Returns Notice with Ordinance Number

    Register returns ordinance number 71596. Effective date is 01/20/2023

Votes

12/09/2022 Vote Results

Aye Votes 26
No Votes 0
Final Passage Vote

View vote details

Ordinance

Ordinance Number: 71596

Effective Date: 01/20/2023

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