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HOUSING AUTHORITY OF KILLEEN-GREATER KILLEEN HOUSING ALLIANCE, INC. and RAD
The Housing Authority of Killeen, for the purposes of meeting RAD requirements, formed a non-profit entity affiliate – Greater Killeen Housing Alliance, Inc. In 2014, the nonprofit incorporated and registered with the Texas Secretary of State. The governing board is the same as the Housing Authority of Killeen. Housing authority residents were also consulted about the RAD conversion as well as in the election/approval of the board of directors for the nonprofit entity.
After the recent completion of a physical needs assessment, results indicated there was significant need for renovation to the Moss Rose development (75 units) and comprehensive rehabilitation of the High View development (70 Units). In December 2013, after consultation with the resident tenants approving the application and submittal, the Housing Authority of Killeen submitted an application to HUD for the RAD conversion of its public housing units at High View and Moss Rose. The RAD application was approved in March 2015 with priority for Moss Rose; then High View.
Site conditions, aging infrastructure, and age of the individual housing structures (1950’s) required consideration for a new location for the Moss Rose units; eligible under significant renovation. The PHA and development partner Housing Solutions Alliance (HSA), LLC of Dallas, Texas are moving forward with the RAD conversion. In order to provide a stronger financial footing, an application will be submitted to TDHCA in the at-risk set aside category for an allocation of housing tax credits. Investor contributions from an award of tax credits can typically provide 75% or more of the financial resources with grants or other private debt providing the balance.
2016 TDHCA APPLICATION FOR HOUSING TAX CREDITS
The Housing Authority of Killeen-Greater Killeen Housing Alliance, Inc. and development partner HSA, LLC have developed a strategy to seek a new site and replace the structures at Moss Rose.
HSA, LLC and Housing Authority of Killeen-Greater Killeen Housing Alliance, Inc. have, for the purposes of an application to TDHCA for housing tax credits, formed a limited partnership known as Killeen Hyde Estates, LP which will be the applicant for 2016 Housing Tax Credits from TDHCA.
The new location is highly competitive in that it provides housing in an ideal location with high performing schools, opportunities for employment and access to transportation, grocery shopping and premier city amenities – Lions Club Park Family Recreation and Aquatics Center. These factors provide for prime development of affordable housing, as well as achieving a high score in the HTC application process.
Killeen Housing Authority
In late 2015, the Housing Authority of Killeen secured an option to purchase a 13-acre tract of land – conditioned on an award of tax credits and zoning approval. The new proposed development, Hyde Estates, will consist of 76 units configured in duplex and quad-plex type structures located on Cunningham Road east of Stan Schlueter Loop. Site access will be from Cunningham Road with a density of less than six (6) units per acre. The property affords the opportunity to create an open, park-like setting for play areas, covered gazebo seating areas, a perimeter walking trail and bus shelter. A management office / club room for residents, community and business room, as well as Energy Star appliances, high SEER performance HVAC units, LED lighting, and heat pump water heaters. Structures will be primarily ground level with living, dining, kitchen, bed and bath rooms and will be considerably larger than the current units at the Moss Rose development; six (6) two-story units (3 structures) will finish out the development to accommodate larger families with 4-bedrooms.
BENEFIT TO THE CITY AND HOUSING AUTHORITY OF KILLEEN
Investor equity obtained through the Texas Low Income Housing Tax Credit program will allow the Housing Authority of Killeen to implement more than $9 million in building construction for Hyde Estates while generating revenue for the City through construction and utility permits, new accounts, and increased community participation in local resources. Hyde Estates residents will be protected from displacement, no increase in rent to current residents, receive reduced utility expenses, and provide residents with equal access to quality education and long term affordable quality housing options.