[CALL TO ORDER]
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FEBRUARY 22ND 2022. IT'S THREE O'CLOCK IN THE AFTERNOON AND WE'RE IN CHAMBER CITY COUNCIL CHAMBERS AT 2 22, NORTH TENNESSEE STREET CITY OF MCKINNEY. OUR FIRST ORDER OF BUSINESS IS PUBLIC COMMENTS ON AGENDA ITEMS. I DO NOT SHOW ANYBODY HAVE BEEN SIGNED UP TO
[SPECIAL MEETING AGENDA ITEMS]
SPEAK. WE WILL MOVE TO OR SPECIAL MEETING AGENDA ITEMS. 220180 CONDUCTED PUBLIC HEARING TO CONSIDER AN ACT ON A RESOLUTION THE CITY COUNCIL, THE CITY OF MCKINNEY REGARDING THE APPLICATION OF MCKINNEY, VIRGINIA PARKWAY, LIMITED TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS. TDH CIA FOR 9% TAX CREDITS. FOR THE CONSTRUCTION OF MULTIFAMILY UNITS WITHIN THE DEVELOPMENT. AND ATTACHED. JEANETTE, HOW ARE YOU? RESOLUTIONS OF SUPPORT. NO OBJECTION. OPPOSITION AND THE PACKAGE, OKAY? I M TONIGHT. IKA AND DIRECTOR OF HOUSING COMMUNITY DEVELOPMENT AND I'M HERE WITH TOM, WHO WHO IS THE REPRESENTATIVE OF PALLADIUM WHO IS REQUESTING THE RESOLUTION OF SUPPORT FOR THE TAX CREDIT DEVELOPMENT? IT IS THE PROVOKED PROPOSED DEVELOPMENT SIDE IS LOCATED ON APPROXIMATELY 3.5 ACRES AT THE NORTHEAST CORNER OF VIRGINIA PARKWAY AND CARLISLE. UM OUR CURRENT HOUSING TAX CREDIT PROPERTY IS WE HAVE ABOUT 202,287 UNITS. THE LIGHT TECH PROGRAM WAS CREATED UNDER THE TAX REFORM ACT OF 1986. IT PROVIDES INVESTORS AND IN AFFORDABLE HOUSING, WITH THE TAX CREDIT OFFSET AGAINST THEIR FEDERAL TAX LIABILITY. SO IT'S A REALLY GREAT WAY TO GET PEOPLE THAT NEED TAX NEED TAX CREDITS TO SUPPORT AFFORDABLE HOUSING. THIS PROGRAM IS THE PRIMARY MEANS OF DIRECTING PRIVATE CAPITAL TOWARD AFFORDABLE OR TOWARD THE CREATION OF AFFORDABLE HOUSING. PALLADIUM IS ASKING FOR A RESOLUTION OF SUPPORT THIS EVENING ON THEIR APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS WITH A RESOLUTION OF SUPPORT FROM THE CITY OF MCKINNEY, THEY WILL GET 17 POINTS. THEY ARE ALSO ASKING FOR A DONATION OR FEE WAIVER IN THE AMOUNT OF $500 WHICH WILL GIVE THEM AN EXTRA POINT ON THE APPLICATION THAT IS NOT IN THE RESOLUTION. SO I DID WANT TO MENTION THAT IF THAT COULD BE PART OF THE RESOLUTION THAT IS APPROVED. AGAIN THIS IS A VERY COMPETITIVE PROGRAM. SO IF IT IS APPROVED BY THE CITY COUNCIL, AND THEY ISSUE A RESOLUTION OF SUPPORT, IT DOESN'T NECESSARILY MEAN THAT THEY WILL GET FUNDED THROUGH TDH C A. AND I CAN ANSWER ANY QUESTIONS ABOUT THE PROGRAM. AND MR WHO IS HERE TO ANSWER SPECIFIC QUESTIONS ABOUT THE DEVELOPMENT? QUESTIONS. THE WAIVER YOU'RE TALKING ABOUT FOR THE $500. IS THAT A MCKINNEY FEE WAIVER THAT BY US WAVING IT WOULD SHOW EXTRA GOOD FAITH BEHIND US THAT COUNTS TOWARDS WHATEVER TRIBUNAL HE'S GOING BEFORE. IS THAT WHAT THAT IS CORRECT? YES. MISSIONS. ALL RIGHT. THANK YOU, JENNY. SIR. GOOD AFTERNOON, MR MAYOR, CITY COUNCIL. TOM, HOW'S PRESIDENT CEO PLAYED IN USA, THE DEVELOPER. I'VE RESIGNED AT 1 34 55 NOEL ROAD IN DALLAS. SORRY, IT'S NOT MCKINNEY. OKAY, HOPEFULLY WILL BE SOON. I WANT TO THANK YOU ALL FOR PASSING ARIZONA REQUEST LAST WEEK. HUGE PROCESS THERE. THANK YOU FOR THAT. SO TODAY WE'RE ASKING FOR IS A RESOLUTION OF SUPPORT SO WE CAN MOVE FORWARD WITH THEIR APPLICATION TO THE STATE. MY JOURNEY WAS SAYING JUST BECAUSE WE PASSED THIS RESOLUTION DOESN'T MEAN WE'RE GOING TO GET FUNDED. THERE'S STILL LOT OF WORK TO DO TO MAKE THAT HAPPEN, BUT WE'VE DONE A LOT OF THESE TRANSACTIONS WERE VERY GOOD AT WHAT WE DO. WE BUILD A HIGH QUALITY WORKFORCE HOUSING PRODUCT. IN FACT, ABOUT 30% OF OUR UNITS WILL BE MARKET RATE 70% WILL BE WORKFORCE HOUSING. SO WITH THAT I'M HERE TO ANSWER ANY QUESTIONS YOU MAY HAVE. I HAVE A QUESTION. I DON'T KNOW THAT YOU'RE THE RIGHT GUY TO ANSWER THIS, BUT THE WE UHH POLICE THAT TO MAKE SURE THAT IT'S 70. SO GOOD QUESTION. SO WHAT HAPPENS IS WE HAVE TO SMELL YOUR APPLICATION BY NEXT TUESDAY , AND THAT APPLICATION, WHICH IS ABOUT 1200 PAGES LONG IT HAS IN THERE. WHAT ARE UNIT MAKES SAYS WHAT ARE AFFORDABILITY COMPONENT IS ONCE I GET SUBMITTED TO THE STATE THAT CANNOT CHANGE. OKAY THEY COME OUT AND THEY AUDITED. THEY LOOK AT OVER LEGAL[00:05:04]
DOCUMENTS. THEY LOOK AT OUR PARTNERSHIP AGREEMENT WITH OUR PARTNERS, AND IT CANNOT CHANGE.YOU KNOW THE QUESTIONS? I HAVE A QUESTION. SO. IF THIS DOESN'T GO THROUGH, SO I GUESS LAST LAST TIME WE MET IN COUNCIL, IT WAS APPROVED FOR MULTI FAMILY ALL THE WAY THROUGH. WE DIDN'T BOONIE COMMERCIAL. AT THE FRONT IF IT IS APPROVED, ASSUMING IF YOU DO NOT GET THE WORKFORCE HOUSING STUFF. WHAT HAPPENS THEN? DO YOU START BACK AND TRY TO DO IT NEXT YEAR? YOU'RE GOING TO BUILD SOMETHING, ANYWAY. WHAT IS THE WHAT'S THE PLAN? YEAH THAT'S THAT'S A VERY GOOD QUESTIONS. SO IF YOU REMEMBER LAST WEEK WE REDUCED THE FLOOR HEIGHT FROM FOUR STORIES DOWN TO THREE STORIES COVERING BASICALLY THE ENTIRETY OF THE SITE. WHICH WE THINK IS A BETTER PLAN. IF.
THIS DOES NOT GO THROUGH WERE VERY TENACIOUS. AND. WE HOPE PROVIDED WE CAN GET THE SELLER ON BOARD, OKAY TO EXTEND OUR CONTRACT AND BRING IT AGAIN NEXT YEAR. LESS THAN ZONING, WHICH HAS ALREADY BEEN ACCOMPLISHED. OKAY? UM WHAT PREVENTS WORKFORCE HOUSING TO BECOME LOW INCOME HOUSING? IS THERE ANYTHING THAT PREVENTS THAT FROM YOUR STANDPOINT BECAUSE. WE HAVE A COUNCILMAN HERE THAT JUST SAYS, HOWEVER, YOU KNOW, SO MANY OF THESE PROJECTS JUST TURN INTO UG PROJECTS, AND IT'S NOT THE WORKFORCE HOUSING IT JUST YOU KNOW, BECAUSE THERE'S SO WHAT PREVENTS THAT FIRST OF ALL, I THINK WHAT HELPS STOP! THAT IS WHO IS THE OWNER? WHERE THEY LOCATED AND ARE THEY SELF MANAGED. WE HAVE OUR OFFICE IN DALLAS UP HERE ALL THE TIME. TBC CRAIG RANCH EVERY WEEKEND. STILL NOT GETTING ANY BETTER. OKAY AND BECAUSE WE SELF MANAGE WE'VE GOT OUR REPUTATION. AND WE PUT OUR NAME ON EVERY DEVELOPMENT THAT WE HAVE. YOU'LL SEE PLENTY. UM VANE, AUSTIN. YOU'LL SEE PLAYED HIM, ANNA. YOU'LL SEE PLENTY IN FORT WORTH PALLADIUM, GARLAND.
PLAYED IMPORT ARANSAS DOWN ON THE COAST. OKAY, EVERYWHERE WE DEVELOPED. WE PUT OUR NAME ON THAT PRODUCT. NO ONE ELSE DOES THAT. WE SELDOM MANAGE. OUR CRITERIA FOR GETTING INTO ONE OF OUR RESIDENTIAL DEVELOPMENTS IS VERY HIGH. EVERY YEAR WHEN THAT LEASE COMES UP FOR RENEWAL, WHICH CHECKED THEIR BACKGROUND, WE CHECKED THE CRIMINAL HISTORY AGAIN. IF THERE ANY ISSUES, WE WILL NOT RENEW THEM. WE DON'T THINK THERE'S ANYONE IN THE BUSINESS THAT'S BETTER THAN WE ARE. SO THE ANSWER WOULD BE THERE'S REALLY NOTHING THAT PREVENTS YOU FROM. DOING MORE OF THE LOW INCOME HOUSING, BUT JUST YOUR REPUTATION AND YOUR EXPERIENCE IN YOUR PAST, SAYING , THAT'S JUST NOT WHAT WE DO. YOU HAVE TO LOOK AT IT TOO, IS. WE'VE GOT A CERTAIN DEBT SERVICE COVERAGE TO MAINTAIN WITH OUR LENDER, RIGHT? AND IF WE DON'T GET THE RENTS THAT WE NEED TO MAINTAIN THAT THAT SERVICE COVERAGE, THEN WE CAN BE IN DEFAULT. OKAY, SO THERE ARE MECHANISMS IN PLACE. THAT WERE PREVENTED FROM BECOMING A SLUMP, SO TO SPEAK. OKAY AND THE FACT THAT WE ARE LOCAL LOCAL MANAGEMENT WE HAVE HIGH INTEGRITY. AND WE OPERATE THESE ASSETS EXTREMELY WELL. YOU CAN GO TO SARAH PROPERTY AND ANNA. WE'RE DOING ANOTHER DEVELOPMENT AND NANA. ON A LARGER SCALE. GO BY ANY OF OUR PROPERTIES UNANNOUNCED ANYTIME. COME BACK AND COMMENT, SAID TOM. I WENT BY X PROPERTY. AND HIS FABULOUS THAT'S FABULOUS, OKAY? THANK YOU. HOW LONG HAVE YOU BEEN DOING THIS? I'M SORRY. HOW LONG YOU'LL BEEN DOING THIS. I'M NOT GOING TO SAY WHEN I STARTED. I HAD HAIR, BUT I DID SEVEN. PLENTY, UM, FOR 24 YEARS. THE COMPANY IS 130 YEARS OLD. WE ARE FRIENDS, SIX COUNTRIES. OH A LITTLE BIT DISCONNECTED. I HAD THIS MAY BE A GENERIC QUESTIONS SO EITHER ONE OF Y'ALL UM. MY UNDERSTANDING WAS THAT THE 9% TAX CREDIT IS HARD TO ACHIEVE, BUT THEN THEY'RE ALSO MAYBE A 4% TAX CREDIT THAT MAY BE MORE ACHIEVABLE. A IS THAT CASE AND BE IF YOU DIDN'T GET THE 9% YOU'VE GOT THE FOUR WOULD YOU NOT PROCEED? VERY INTERESTING QUESTION. UM. THE 9% PROGRAM IS EXTREMELY COMPETITIVE. AND THIS AREA THAT DALLAS FORT WORTH MCKINNEY AREA THERE WERE 67 PRE IMPLICATIONS FILED. NEXT TUESDAY
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. THERE WILL PROBABLY BE SOMEWHERE AROUND 25 4 APPLICATIONS FILED AND EACH ONE.THERE'S FOUR APPLICATIONS REQUIRE US TO SPEND ABOUT $100,000. CARE THAT WE NEVER GET BACK IF THE DEAL DOESN'T GO FORWARD. OKAY FROM THOSE 25 OR SO FULL APPLICATIONS, PROBABLY BE 9 10. MAYBE 11 DEVELOPMENTS TO GET AWARDED BECAUSE THAT'S ALL THE MONEY THERE IS FOR IT.
OKAY, THAT'S WHY THIS IS VERY, VERY COMPETITIVE. WE'VE BEEN VERY SUCCESSFUL. WE PICKED GREAT SITES WITH GREAT CITIES WHO UNDERSTAND THE NEED FOR WORKFORCE HOUSING. AS TO THE QUESTION OF THE NAME VERSUS THE 4. THE 4% ONLY WORKS. IN CERTAIN AREAS. IT WORKS OF HERE AND THEY QUALIFIED CENSUS TRACT. WHICH LAWS ARE ACCUSED CTS AND MCKINNEY OR ON THE EAST SIDE OF 75. WHERE THE HOUSING AUTHORITY PRODUCT IS. THE CARTON IS INVOLVED. OR IF IT'S IN A SADDLE. OKAY? A DIFFICULT TO DEVELOP AREA. IT JUST SO HAPPENS OKAY. THIS SITE IS AN ASSAD. ALL RIGHT. SO IF THIS WOULD NOT WORK AS A NINE WILL BE COME BACK AS A FOUR WE WOULD LOVE TO DO THAT.
BUT BUT. EVER REQUIRE MORE UNITS. BECAUSE THE 4% PROGRAM IS VERY COSTLY. OUR ATTORNEYS FEES ON A 4% PROGRAM OR ABOUT $750,000. OKAY, SO. IN ORDER TO MAKE THAT FINANCIALLY FEASIBLE.
WE HAVE TO BUILD MORE UNITS AND IT'S AND IT'S GREAT BUILDING MORE UNITS. THE CITY MCKINNEY NEEDS MORE UNITS, BUT ON THIS SIDE. MR MAYOR EVER REQUIRE US TO GO? 24 STORIES. SO FROM A PRACTICAL STANDPOINT, IS IT FAIR FOR ME TO SUMMARIZE THAT THIS WILL EITHER BE YES. ON THE 9% IN GREEN LIGHT, OR IT WILL BE DEFERRED UNTIL YOU GET 9. I WOULD SAY THAT'S THE BEST ALTERNATIVE. OKAY? EVEN WITH THE 4% IT TAKES A LOT OF OTHER FUNDING TO MAKE THE 4% WORK SENT TANKS CREDITS EQUATE ABOUT 60 TO 70% OF THE EQUITY REQUIREMENT. AND A 4% YOU GET LESS EQUITY.
YOU GET UP 30% EQUITY YOUR DAD'S GONNA COME UP WITH 70, AND IT DOESN'T PENCIL OUT. OKAY BUT YOU'RE IN NO, IS NOT SUFFICIENT ENOUGH TO MAKE THAT PENCIL OUT. SO YOU EITHER GOTTA TEAM UP WITH THE HOUSING AUTHORITY. WITH SOME SORT OF. PROPERTY TAX EXEMPTION TO MAKE THAT WORK OR GET SOME OTHER SOFT FUNDING FROM THE STATE OR THE FEDERAL GOVERNMENT. OKAY SO THAT WAS GONNA BE MY LAST QUESTION. BUT FORGIVE ME. BUT WHAT'S YOUR BATTING AVERAGE ON GETTING THE 9% WHAT'S PLAYED HIS BATTING AVERAGE. SO LAST YEAR WE SUBMITTED TO FULL APPLICATIONS GOT AWARDED ONE THE YEAR BEFORE WE SUBMITTED. FOUR APPLICATIONS AND WERE AWARDED THREE THE YEAR BEFORE THAT WE SUBMITTED FOR APPLICATIONS AND REWARDED THREE SO IT'S VERY HIGH , VERY HIGH BATTING AVERAGE, BUT WE TRY TO MITIGATE A LOT OF THOSE RISKS BECAUSE I'M NOT OUT TO SPEND $100,000 ON FOUR DEALS ARE NEVER GOING TO GET FUNDED. THAT'S NOT FUN, RIGHT? OKAY THAT'S THAT'S NOBODY WANTS TO DO THAT. SO WE MAKE BETS AND CITIES THAT. LIKE WHAT WE DO, LIKE THE QUALITY THAT WE DO. AND WE BET THE SITES VERY HARD INITIALLY TO MAKE SURE THAT THEY ARE GOING TO BE AN AWARD POSITION. WE DON'T ALWAYS KNOW. OKAY BUT WE DO EVERYTHING WE CAN ON THE FRONT END TO MAKE SURE THAT WE'RE SUCCESSFUL IN THE BANKING. THANK YOU. THE QUESTIONS. THANK YOU. THIS IS A PUBLIC HEARING. I DON'T SHOW ANYONE SIGNED UP. I HAVE A QUESTION OF MR HAUSER. IF I MAY. THANK YOU. CURRENTLY YOU AND I ARE IN THE WRONG END OF THE BUSINESS SPEAK. YEAH I HEARD THAT 750,750 YEARS SHOT. THAT WAS MY QUESTION. NO RHETORICAL, AT LEAST. ZONING. CAN WE PROTECT A PROPERTY AS WORKFORCE? HOUSING WAS SOME FORM OF ZONING REGULATIONS. AS IN MY MIND, I'M THINKING YOU CAN SAY WHY YOU CAN BUILD THERE. BUT YOU CAN'T SAY WHAT YOU DO WITH IT AFTER THAT'S CORRECT. SO I KNOW THAT WE'RE
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GONNA TALK ABOUT HOUSING AFTER THIS ITEM. BUT THE PUTTING THOSE KINDS OF RESTRICTIONS AND I THERE'S ONLY COORDINATES ARE PROHIBITED. DEED RESTRICTIONS OR SOME KIND OF 3 80 DEVELOPMENT AGREEMENT WHERE ITS CONTRACTUAL OUTSIDE OF ZONING THOSE OPTIONS ARE AVAILABLE. AGAIN. I THINK THAT'S GOING TO BE PART OF CANADIAN, AND THAT'S THAT IS PART OF THE TAX CREDIT. IT HAS A LAND USE RESTRICTIONS ON IT HAS A LURE ON IT FOR THE PERIOD OF AFFORDABILITY, WHICH IS WHAT, USUALLY 30 YEARS. 40 YEARS, SO IF THAT IS KIND OF PART AND PARCEL WITH THE LOW INCOME HOUSING TAX CREDIT, BUT IF IT WASN'T A TAX CREDIT PROJECT AND YOUR CITY COUNCIL SEEKING THOSE KINDS OF LIMITATIONS OR RESTRICTIONS, THEN YOU HAVE TO HAVE OTHER METHODS TO GET THERE.INTER ACTUALLY OR RESTRICTIONS. BUT IT NEEDS TO BE A BARGAIN FOR EXCHANGE. IN MY QUESTION GOES BEYOND THIS PROJECT, BUT. SHOULD WE DO ALLOTMENTS AND OTHER AREAS ? HOW DO WE POLICE THAT AND I'M NOT EXPECTING AN ANSWER ON THAT, AND I THINK THAT'S A TOPIC THAT WE'RE GOING TO HAVE HERE. YEAH SO THE QUESTION THAT I HAVE IS THAT YOU KNOW THIS. THIS HAS BEEN APPROVED AS A MULTI FAMILY ZONE NOW. THEY DON'T GET THERE. FUNDING THINGS LIKE THAT SOMEBODY ELSE COMES BEHIND AND CAN BUILD WHATEVER THEY WANT WITHIN THAT ZONING. YES, SIR. MARKET RATE PRODUCT, RIGHT? ALREADY OTHER PRODUCTS THAT CAN BE BUILT IN AN M F THREE. I THINK IT'S SO AND THEY DON'T HAVE TO COME BEFORE THE COUNCIL TO GET ANYTHING. OKAY. THANK YOU. THANK YOU. APPRECIATE YOU ANSWER MY QUESTION. RIGHT? ENTERTAIN A MOTION. REPUBLIC HEARING A COMMOTION CLOSE THE PUBLIC HEARING AND APPROVE THIS ITEM SECOND. THIS CAST YOUR VOTES. I HAVE ONE QUESTION. DOES THAT INCLUDE THE 500, SO MY MOTION WILL INCLUDE $500 5000 DOLLAR LABOR. YES. THANK YOU.
MOTION PASSES. THANK YOU, SIR. THANK YOU. THANK YOU. THANK YOU . YOU'RE GOING TO STAY FOR OUR
[WORK SESSION AGENDA ITEM]
WORK SESSION. AGENDA ITEM. 220181 MCKINNEY HOUSING STRATEGY. UPDATE WITH KIM FLOM TO BEGIN. THANK YOU. AFTERNOON GOOD AFTERNOON, EVERYBODY AND. TO I MOSTLY JUST WANTED TO ALWAYS GIVE A PRESENTATION ON. TO SO BANANA ARE GOING TO TAKE HIM A LITTLE BIT TODAY, BUT WE ARE HAPPY TO BE WITH YOU. KIM FARM ASSISTANT CITY MANAGER. THIS WILL BE THE THIRD HOUSING UPDATE WE'VE PROVIDED TO COUNCIL SINCE THE ROOT HOUSING ASSESSMENT WAS COMPLETE IN LATE 2020. UM WE'RE GOING TO KIND OF GIVE YOU A LITTLE BIT OF A STORY OF WHERE WE'RE AT TODAY. WHAT WE LEARNED FROM THE ROOTS STUDY WHAT WE'VE BEEN DOING SINCE THE ROOTS STUDY AND OTHER THINGS THAT COULD POSSIBLY BE ON THE HORIZON, GIVEN SOME OF THE CONVERSATION THAT HAPPENED DURING THE STRATEGIC WORK SESSION ABOUT HOUSE THINK THERE ARE A COUPLE TAKEAWAYS THAT I'M GOING TO GIVE YOU AT THE FRONT AND THAT I'D LIKE YOU TO KEEP IN MIND. UM, RIGHT NOW THE HOUSING MARKET. IS CHALLENGED EVERYWHERE RIGHT NOW. SO JUST BEFORE THE MEETING, I WAS READING A NEWS ARTICLE ABOUT HOUSING SAID BEFORE COVID THERE WERE ABOUT 656,000 HOUSES IN THE COUNTRY.THAT SOMEONE OR A HOUSEHOLD BETWEEN $8500 COULD AFFORD. TODAY THAT NUMBER IS LESS THAN HALF AT ABOUT 250,000. THERE ARE ALSO OVER 500 CITIES IN THE U. S OR THE AVERAGE HOME PRICES HIT A MILLION DOLLARS. IT IS NOT MCKINNEY. THERE'S PROBABLY NONE IN NORTH TEXAS, BUT IT'S THERE SO THE HOUSING MARKET IS CHALLENGED NATIONWIDE AS IT HAS BEEN CONTINUING TO INCREASE IN NORTH TEXAS. THERE ARE ALSO A LOT OF FACTORS AND A LOT OF PLAYERS THAT CONTRIBUTE TO HOUSING. LOCAL GOVERNMENT DEFINITELY PLAYS A ROLE, BUT WE ARE NOT GOING TO BE THE ONLY ONES WHERE OUR EFFORTS WILL NOT BE THE ONLY EFFORTS TO SOLVE. THE ISSUE. AND ACTUALLY, AND YOU KNOW, DESPITE SOME OF THE DOOM AND GLOOM THAT WE'RE SEEING IN HOUSING COSTS INCREASES, PARTICULARLY AND OWNERSHIP AND RENTAL, AND WE DO FEEL LIKE MCKINNEY'S. IN A GOOD POSITION.
THE ROOT POLICY STUDY GAVE US SOME REALLY GOOD LOCAL INSIGHT. WHICH GIVES US SOME POINTERS AND
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PRIORITIES OF THINGS WE CAN DO TO HELP OUR RESIDENTS. AND WE'VE DONE SEVERAL THINGS SINCE WE PASSED THROUGH HOUSING ASSESSMENT. THAT SAID. WE HAVE DONE A LOT OF THINGS SINCE THROUGHOUT HOUSING ASSESSMENT WITH THE CURRENT RESOURCES WE HAVE, THE MORE WE TAKE ON THE MORE WE HAVE TO UNDERSTAND THAT ADDITIONAL RESOURCES MIGHT BE NEEDED. SO IF I CAN GET THIS TO MOVE. TURN ON. I MEAN, VIBRATED, OKAY? SO GLOBALLY. I TALKED A LITTLE BIT ABOUT THIS ALREADY.UM, HERE'S SOME CHARTS THAT HELD BACK IN APPLE OF THE MANY ISSUES THAT ARE CONTRIBUTING TO OUR HOUSING COST CHALLENGE. ONE IS ACTUALLY JUST SUPPLY. WE DON'T HAVE ENOUGH, AND THIS CHART IS ESSENTIALLY SHOWING THAT AND CURRENTLY, FREDDIE MAC ESTIMATES THAT THE ENTIRE COUNTRY IS SHORT 3.8 MILLION HOMES. THAT'S UP FROM 2.5 MILLION IN 2018. SO. MOST OF US UNDERSTAND SOME BASIC ECONOMICS WHEN SUPPLY GOES DOWN. DEMAND IS UP AND PRICE IS UP, AND THAT IS DEFINITELY THE CASES WE'RE SEEING ACROSS THE COUNTRY AND IN MCKINNEY WHAT DOES THAT MEAN FOR TEXAS SPECIFICALLY? WELL, HISTORICALLY, TEXAS HAS BEEN PROBABLY ONE OF THE MORE VALUE HOUSING MARKETS, BUT I THINK THE SECRET IS OUT. I THINK THAT YOU AND YOUR EFFORTS AND THE EFFORTS OF MANY OTHER COUNCILS HAVE MADE NORTH TEXAS AND INCREDIBLY DESIRABLE PLACE TO BE. BUSINESSES WANT TO BE IN MCKINNEY, PEOPLE WANT TO BE IN MCKINNEY AND NORTH TEXAS. AND THAT HAS ONLY EXASPERATED SINCE THE PANDEMIC AND IN THE DALLAS FORT WORTH AREA. FROM 23RD QUARTER OF 2021. THE ANNUAL INCREASE AT HOLMES WAS 18.3% THAT JUST CONTINUES TO GO UP AND IT'S NOT JUST THE HOUSING THAT'S FOR SALE. SINGLE FAMILY RENT HOMES ARE UP 17.1. DFW APARTMENT RENTS ARE UP 15. AND I DON'T THINK MOST OF OUR SALARIES HAVE BEEN INCREASING AT THOSE SAME RATES. WELL, HE'S MINE. MINE HASN'T I DON'T KNOW ABOUT YOU GUYS LIKE HIS ATTORNEYS. SO THIS THIS IS WHAT I NOTED ON BEFORE.
THERE ARE A LOT OF THERE ARE A LOT OF PLAYERS IN THE REALM OF THE HOUSING MARKET. RIGHT, SO IT'S NOT JUST ONE ENTITY THAT CONTROLS PRICE DEMAND SUPPLY. THIS CHART GRAPH KIND OF SHOWS YOU THAT IT REALLY IT'S A LOT OF DIFFERENT ENTITIES AND EVEN THE PRIVATE MARKET WORKING TOGETHER.
THAT'S WHAT RESULTS IN THE HOUSING MARKET. SO IN THE FEDERAL GOVERNMENT SIDE, WHAT DO THEY DO AS RELATED TO AFFORDABLE AND WORKFORCE HOUSING? WELL, THEY ARE FUNDER. THEY PUT A LOT OF MONEY INTO FEDERAL PROGRAMS. THEY FEDERAL TAX POLICY. THE MORTGAGE INTEREST DEDUCTION RIGHT THAT IS SORT OF A HOUSING INCENTIVE PROGRAM. IN A SENSE, THEY ALSO ARE THE BIG PICTURE POLICY THINKERS AND ADMINISTRATORS OF THE LIGHT TECH HAD FUNDING ETCETERA, ETCETERA.
STATE GOVERNMENT ALSO HISTORICALLY PLAYS A REALLY BIG ROLE OF THE FEDERAL MONEY THAT COMES THROUGH GOES TO THE STATE. THE STATE ADMINISTERS AND ALLOCATES. SOME STATES RUN THEIR OWN HOUSING TRUST FUNDS OR OTHER MECHANISMS. STATE GOVERNMENT, THEY CAN PROVIDE STATEWIDE INCENTIVES OR EVEN STATEWIDE REQUIREMENTS. SOME STATES HAVE TAKEN A PRETTY PROACTIVE APPROACH IN AFFORDABLE HOUSING. THE STATES ARE YOUR CONVENERS, EDUCATORS AND FACILITATORS AND THEY PASSED THEIR ENABLING LEGISLATION. THEY ARE THE ONES THAT DO A LOT OF WORK AT THE HOUSING POLICY LEVEL. LOCAL AND COUNTY GOVERNMENT. THEIR ROLES ARE SIMILAR AND SOMEWHAT A LITTLE BIT DISTINCT, DEPENDING ON WHERE YOU ARE GEOGRAPHICALLY , THE ROLE OF COUNTY AND LOCAL IS VERY VARIABLE, WHETHER YOU'RE URBAN, RURAL OR SUBURBAN. BUT ON THE LOCAL SIDE, HISTORICALLY, OUR ROLE IN HOUSING AND AFFORDABLE HOUSING WITH ZONING REGULATIONS BUILDING PERMITS HOUSING CODE INSPECTIONS, PARTNERSHIP PROJECTS AND THEN THE FUNDING ADMINISTRATION FOR LIKE CDBG PROGRAMS. WE DIDN'T HISTORICALLY DO A LOT IN THE WORLD OF AFFORDABLE HOUSING THAT WAS OFTEN AND CONTINUES, THE MOST OFTEN BE DONE BY OUR NONPROFIT ORGANIZATIONS.
MCKINNEY HOUSING AUTHORITY HAVE INTACT FOR HUMANITY. NEIGHBOR WORKS. THERE ARE SEVERAL OF THOSE ENTITIES THAT THEIR WHOLE MISSION IS AFFORDABLE AND WORKFORCE HOUSING AND THEN FINALLY THE PRIVATE MARKET. IT'S THE BUYERS AND THE SELLERS AND THE DEVELOPERS THAT ALSO PLAY IN THIS POOL. WITH THAT I'M GOING TO PASS IT OVER TO JOHNNY. SHE'S GOING TO TALK A LITTLE BIT ABOUT WHAT WE'VE ALWAYS DONE A LITTLE BIT ABOUT THE ROUTE STUDY AND THEN I WILL BE BACK TO TALK ABOUT WHAT MIGHT HAPPEN NEXT. JOHNNY, ARE YOU WALKING WITH A LIMP? PROBABLY OH, STARTED DOING HOT YOGA AGAIN. LAST NIGHT I ACCIDENTALLY TOOK AN HOUR AND A HALF CLASSES. OKAY I JUST WAS WONDERING. HOPEFULLY YOU'RE OKAY . YES I'M FINE. THANK YOU. JUST SPORTS INJURY. SO CITY ADMINISTERED PROGRAMS YOU ALL ARE PROBABLY FAMILIAR WITH AND I'VE HEARD ABOUT OUR COMMUNITY
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SUPPORT GRANTS. SO THAT IS GENERAL FUND THROUGH CITY COUNCIL. WE HAVE OUR CARES ACT FUNDING, WHICH HAS PROVIDED RENTAL MORTGAGE AND UTILITY ASSISTANCE DURING THE PANDEMIC.THE LOW INCOME HOUSING TAX CREDIT PROGRAM, WHICH WE JUST SAW MCKINNEY HOUSING FINANCE CORPORATION AND OUR PARTNERSHIP PROJECTS. SO THE INDEPENDENCE IS AN EXAMPLE OF THAT WE HAVE DONE A CO DEVELOPER PARTNERSHIP HAVE THE NEXT ONE. IN THE WORKS ARE TENANT BASED RENTAL ASSISTANCE, WHICH REALLY HELPS US. THERE'S LOW INCOME FOLKS KIND OF BRIDGE, MAYBE OVER A DIFFICULT TIME IN THEIR LIFE. AND THEN AFFORDABLE SINGLE FAMILY HOME OWNERSHIP PROGRAM, WHICH WE'VE HAD SINCE 2000 AND ONE THERE WAS ACTUALLY AN AFFORDABLE HOUSING TASK FORCE BACK IN 2000 AND ONE SO A LOT OF THE POLICIES AND PROGRAMS THAT WE ADMINISTER IN OUR DEPARTMENT ARE FROM THAT TIME PERIOD. SO THAT'S ONE OF THE THINGS THAT WILL PROBABLY BE LOOKING AT UPDATING. SO FROM THE ROOT POLICY, HOUSING NEEDS ASSESSMENT. WHAT? WHAT WE LEARNED WAS THAT GEOGRAPHIC DISTINCTIONS WITHIN THE CITY OF MCKINNEY AGAIN? THE ROUTE POLICY STUDY WAS COVERED THE ENTIRE CITY, NOT JUST EAST MCKINNEY, NOT JUST AFFORDABLE HOUSING. SO THE HOMEOWNERSHIP RATE WITHIN THE CITY OF MCKINNEY IS ABOUT 67% WHICH IS VERY SIMILAR TO THE REST OF THE STATE OF TEXAS. BUT WE DO HAVE LARGE VARIATIONS IN GEOGRAPHY. IN STONE BRIDGE. THE RATE IS ABOUT 85% OF HOME OWNERSHIP, CRAIG RANCH AND EAST OF HIGHWAY FIVE. IT'S ABOUT 45. 96% OF OUR HOME OWNERSHIP PRODUCT IS SINGLE FAMILY DETACHED, AND WITH THE RISING HOME PRICES THAT IS PRESENTING AN ISSUE FOR FOLKS GETTING INTO THE HOUSING MARKET. OUR MEDIAN HOME PRICE IS HIGHER THAN DALLAS BUT LOWER THAN ALAN FRISCO AND PLANO PULLED FROM REDFIN. THE MEDIAN NEW HOME LIST PRICE IN THE CITY OF MAKENI. AS OF FEBRUARY. 2022 IS $592,990. THE VALUE MEDIAN HOME VALUE IS $459,000, SO YOU CAN SEE THAT THAT'S DEFINITELY HAS INCREASED . JOHNNY THAT FIRST NUMBER. GIVE THAT TO ME AGAIN, AND IT WAS 592,900 AT IS. THAT IS THE MEDIAN LIST PRICE. HOME VALUES FOR 60. CORRECT CORRECT. UM AS WE HAVE DISCUSSED IN THE PAST, MCKINNEY HAS A HIGHER SHARE OF LATEX AND VOUCHER HOUSING THAN ARE COMPARABLE NEIGHBORS WERE ACTUALLY NUMBER TWO IN CALLING COUNTY FARMERS BILL HAS ONE UNIT FOR EVERY 33 RESIDENTS. MCKINNEY IS NUMBER TWO AT ABOUT ONE PER 90. HISTORICALLY WE'VE BEEN AROUND ONE PER PER 80 RESIDENTS AND ON DOWN FRISCO IS A. IS A CITY THAT WE OFTEN COMPARE OURSELVES TO THEY HAVE ABOUT 51 UNIT FOR EVERY 541 RESIDENT SO YOU CAN SEE THAT THEY REALLY NEED TO PICK UP THE BALL AND HELP WITH THAT AS WELL. AND THE ROOT POLICY STUDY ALSO IDENTIFIED SOME RENTAL MARKET GAPS AND SURPLUSES. SO WHEN YOU LOOK AT THE PROJECTED WORKFORCE HOUSING NEED AND THIS IS REALLY LOOKING AT HOUSING THE NEXUS BETWEEN ECONOMIC DEVELOPMENT. THE JOBS CREATION, THE KINDS OF BUSINESSES THAT WE WANT IN MCKINNEY AND THE WORKFORCE. HOUSING NEED FOR SERVICE INDUSTRY FOR MANUFACTURING. YOU CAN SEE THAT THERE IS GOING TO BE A PROJECTED TO BE A NEED IN THE WORKER INCOME 50,000 TO, UH, ALMOST 75,000. THAT IN 2025. WE'RE GOING TO ADD BY 2025 A LITTLE OVER 2000 WORKERS AND WILL NEED 894 RENTER UNITS AND 1177 OWNER UNITS AND YOU CAN SEE ABOUT 2030. THOSE NUMBERS BASICALLY DOUBLE SO THIS KIND OF GIVES YOU AN IDEA OF THE HOUSING. PRICES AND THE WORKERS THAT ARE EXPECTED TO BE ADDED THAT ARE EXPECTED TO, UH MAKE MCKINNEY THEIR HOME. AND THE GREATEST NEED TO ACCOMMODATE THIS FUTURE WORKFORCE IS GOING TO BE AT THE 60 TO 80% AM I AND THEN 120% AM I SO FOR THIS CURRENT YEAR FOR A FAMILY FOR THAT'S ABOUT $106,800 A YEAR IS 120. OF THE AMI. SO THE ROOT POLICY AGAIN. THIS IS KIND OF REMINDER. THE NEEDS ASSESSMENT
[00:30:11]
CAME UP WITH FOUR BASIC NEEDS. ADDITIONAL AFFORDABLE RENTALS, PARTICULARLY FOR RESIDENTS EARNING LESS THAN $35,000. STARTER HOMES AND WORKFORCE HOUSING PRICES NEAR BELOW $200,000. THIS IS A REGIONAL OBVIOUSLY REGIONAL ISSUE, AND THERE ARE EXISTING PROGRAMS IN PLACE. THE INCREASING THE OWNERSHIP PRODUCT, THE MISSING MIDDLE. THIS IS SOMETHING THAT WE HAVE TALKED ABOUT A LOT. THIS IS MORE MCKINNEY SPECIFIC, AND IT IS DIVERSIFYING THE HOUSING PRODUCT AND PRICES. AND THEN ALSO STRATEGIC REDEVELOPMENT AND CONDITION IMPROVEMENTS, AND THAT DEALT MORE WITH THE CONDITION IMPROVEMENTS AND NEW INFRASTRUCTURE ON THE EAST SIDE , WHERE SOME OF THE OLDER INFRASTRUCTURE IN THE CITY IS LOCATED. SO THE PRIORITIZATION FOR MCKINNEY, LOCAL GOVERNMENT, INCREASE HOME OWNERSHIP IN STRATEGIC AREAS AND GROUPS INCREASE THE MISSING MIDDLE HOUSING. AGAIN MAKING AN EFFORT WHERE WE CAN REALLY FOCUS ON THAT. 8200 AND 20% OF A M E. FOCUSING ON EAST MCKINNEY. SO THE NEIGHBORHOOD PRESERVATION STUDY WHERE THIS NATURALLY OCCURRING AFFORDABLE HOUSING IS ALREADY EXISTING. AND THEN YOU CAN SEE GENERALLY, BUT NOT ALWAYS. THESE ARE THE ORGANIZATIONS THAT SORT OF TAKE CARE OF THE HOUSING AT THESE DIFFERENT INCOME LEVELS. THE ROUTE STUDY. SO AS MENTIONED WHEN THE COUNCIL REVIEWED AND ADAPTED THE ROUTE STUDY IN 2020 AND THROUGH DISCUSSIONS WITH THE COUNCIL AFTER WE'VE TAKEN ON SEVERAL THINGS, ZONING CODE OVERHAUL. WAS ALREADY UNDERWAY, BUT IT ALLOWED US TO PUT A MAGNIFYING GLASS ON THAT AS RELATED TO ZONING AND AFFORDABLE HOUSING. UM TDH, CIA ACTUALLY HAS A LIST OF BEST PRACTICES AT HIS ZONING CODE CAN USE TO MAKE SURE THAT THEY'RE ALIGNING. THERE IS AN 11 BY 17 SHEET OF PAPER. NEAR EACH OF YOUR MONITORS. I APOLOGIZE THAT I DID NOT GET IN THE PACKET, BUT WHAT IT DOES IS IT TAKES THOSE BEST PRACTICES. IT TELLS YOU WHAT OUR EXISTING CODE DOES AND WHAT OUR FUTURE CODE WILL DO. UM AND OUR TEAM BELIEVES THAT WE ARE MEETING ALL OF THOSE BEST PRACTICES FOR THC. ALSO MCKINNEY HOUSING FINANCE CORPORATION. WE'VE TALKED ABOUT THIS BEFORE. THIS IS A PRETTY POWERFUL PARTNER FOR US, AND, UM, THANKFUL THAT THE COUNCIL HAD AUTHORIZES THE FIRST PROJECT.THE INDEPENDENCE IS GOING REALLY WELL. THIS IS A PROJECT THAT THE CITY THE M HFC EARNS MONEY ON SEVERAL MILLION DOLLARS WILL LIKELY COME BACK TO THE CITY THAT CAN BE USED TO FURTHER WORKFORCE HOUSING THROUGH THIS PROJECT, AND THE COMMITTEE IS CURRENTLY WORKING ON AN R F Q.
FOR ANOTHER PARTNERSHIP IN MCKINNEY. ADDITIONALLY WE'VE TAKEN OUR DOWN PAYMENT AND CLOSING COST ASSISTANCE PROGRAM AND INCREASE THE REACH BY INCREASING THE ELIGIBLE INCOME TO 120% OF AM I OUR RAPID RE HOUSING PROGRAM BEGAN RIGHT AFTER THE ROOT HOUSING STUDY, AND WE HAVE RECEIVED INCREASED FUNDS THAT TAKES HOMELESS FOLKS AND PUTS THEM INTO HOUSING PAYS FOR HOUSING FOR UP TO EIGHT YEARS. SO THAT IS A GREAT PROGRAM THAT HAS BEEN GOING VERY WELL. THE NEIGHBORHOOD PRESERVATION STUDY IS UNDERWAY CURRENTLY, AND THAT STUDY WILL POINT TO SOME VERY SPECIFIC STRATEGIES TO ADDRESS DISPLACEMENT THAT COULD OCCUR IN THE EAST MCKINNEY HISTORIC NEIGHBORHOODS AS THOSE AREAS EXPERIENCE REINVESTMENT. AND THEN THE COMMUNITY LAND BANK COMMUNITY LAND TRUST. WE GAVE A PRESENTATION TO COUNCIL RIGHT AROUND CHRISTMAS TIME, I THINK, AND YOU'RE GOING TO SEE A FOLLOW UP PRESENTATION WITHIN THE NEXT MONTH. THAT'S GOING TO OUTLINE WHAT CAN BE DONE TO TAKE THE NEXT STEPS. IF THAT IS SOMETHING THAT COUNCIL IS LOOKING TO DO. SO THAT SAID, WHAT OTHER THINGS CAN WE TALK ABOUT? I'M GOING TO CATEGORIZE THEM AND TWO GOALS, POLICIES, PROCEDURES AND PRODUCTS PROJECTS, AND I ALSO WANT TO POINT YOU TO THE LITTLE STEP SIGN IN THE LOWER RIGHT HAND CORNER. BECAUSE AS I MENTIONED WE'VE TAKEN ON A LOT SINCE THE ROOTS STUDY WITH THE STAFF THAT WE HAVE IN PLACE, SO WE NEED TO BE COGNIZANT ABOUT OTHER THINGS THAT WE TAKE ON. IT IS NOT TO SAY THAT WE CAN'T DO ANYTHING BUT WE MAY HAVE TO REALLOCATE RESOURCES. WE MIGHT HAVE TO MOVE PRIORITIES AROUND.
SO THE FIRST IS AFFORDABLE HOUSING GOAL IN THE ROOTS STUDY WAS REVIEWED IN 2020. WE PROVIDED AFFORDABLE HOUSING GOAL IN THE FORM OF THESE FOUR BULLET POINTS TO COUNSEL. THIS IS WHAT WE'VE BEEN USING FOR OUR SUPPORTABLE HOUSING GOAL. I KNOW IN THE STRATEGIC WORK SESSION, THERE WAS SOME DISCUSSION ABOUT REFINING OR MODIFYING THAT GOAL . WE CAN DO THAT WITH OUR EXISTING RESOURCES WERE HAPPY TO FACILITATE THAT CONVERSATION WITH YOUR DIRECTION. SOME
[00:35:03]
QUESTIONS. SHOULD THE GOAL BE MORE SPECIFIC OR LESS SPECIFIC? I'VE PUT SOME EXAMPLES UP THERE.THEY'RE NOT RECOMMENDATIONS. THEY ARE JUST IDEAS. THE ONLY THING THAT I WOULD BALANCE ANY SPECIFIC A LOT WITH IS THE CITY'S ABILITY TO CONTROL SO I LOVE GOALS LIKE WE WANT TO INCREASE OUR WORKFORCE HOUSING BY SO AND SO PERCENT. BUT AS WE KNOW WHERE ONE PARTNER IN THE WORLD OF THE HOUSING MARKET SO IT WOULD BE HELPFUL. OUR GOALS WERE VERY SPECIFIC TO THINGS THAT WE CAN IMPACT. ADDITIONALLY JANNA MENTIONED SOME OF OUR OTHER PROCEDURES AND PROGRAMS. WE DO HAVE THE AFFORDABLE HOUSING INCENTIVE POLICY. WE'RE ALREADY WORKING TO INCREASE THAT PROGRAM SO THAT IT'S ELIGIBLE FOR HOUSEHOLDS AT 120% OF AM I BUT WE COULD LOOK AT FURTHER IMPACTS FOR THAT PROGRAM. WE COULD LOOK AT IMPACT FEES. WE COULD LOOK AT FURTHER FEE WAIVERS. THESE ARE THINGS THAT WEREN'T REALLY ON THE TABLE BEFORE. BUT IF THE COUNCIL WANTED US TO PURSUE WE COULD EXPLORE THAT BRINGS SOME IDEAS BACK TO YOU. OUR LOW INCOME HOUSING TAX CREDIT POLICY. UM WE COULD LOOK AT IT IF A COUNCIL WANTED TO PURSUE MORE PROJECTS ARE THERE WAYS TO MAKE THAT MORE FLEXIBLE? AND OUR ALSO OUR LAND DISPOSITION POLICY. THEY'RE JUST THINGS THAT COULD BE REFRESHED. TO ALIGN WITH WHATEVER HOUSING GOAL, THE COUNCIL DECIDES. AGAIN THAT'S AN EASY ONE TO DO WITH OUR CURRENT RESOURCES. SO SOME OTHER INCENTIVES. SO THE LAST TIME WE TALKED, THE COUNCIL GAVE DIRECTION TO STAFF TO PUT TOGETHER AN INCENTIVE POLICY FOR WORK FOR HIS HOUSING, AND WE CHURNED INSURANCE AND IT IS NOT AS EASY AS IT WOULD SEEM BECAUSE THERE ARE SO MANY DIFFERENT FACTORS IN PLAY. NOW WHAT WE DO HAVE CURRENTLY ARE MCKINNEY HOUSING FINANCE CORPORATION PROJECTS ARE A LITTLE BIT LIKE INCENTIVES. WE ARE ABLE TO PARTNER WITH DEVELOPERS. WE GET PAYMENT BACK, BUT WE WERE ABLE TO MAKE DEVELOPMENT PROJECTS HAPPEN. THAT WOULD NOT NORMALLY HAPPEN. AND HISTORICALLY WE'VE BEEN LOOKING AT THESE ON A CASE BY CASE BASIS FOR THE PARTNERSHIP PROJECTS. SO, AS MR HAUSER OUTLINED, WE CAN'T REALLY AMEND OUR ZONING CODE TO REQUIRE WORKFORCE HOUSING, BUT WHENEVER THE CITIES PARTICIPATING IN A PROJECT IT OPENS THE DOOR FOR A NEGOTIATION, WE'VE ALWAYS BEEN DOING THAT CASE BY CASE IF THE COUNCIL WANTED TO MOVE FORWARD WITH SOMETHING MORE SPECIFIC ON A POLICY HERE, A COUPLE OF IDEAS YOU ADOPTED A PIT POLICY AS OF LAST YEAR, AFFORDABLE HOUSING IS SOMETHING THAT CAN BE USED WITH KIDS. YOU COULD SET A POLICY IN PLACE THAT FOR EVERY PID THAT THE COUNCIL IS WANTS TO CONSIDER MCKINNEY. THERE IS A CERTAIN MAYBE IT'S JUST A PRODUCT MIX. TO ACHIEVE THE MISSING MIDDLE HOUSING OR IT COULD BE AN AFFORDABILITY COMPONENT. SIMILAR YOU COULD DO THE SAME FOR DEVELOPER AGREEMENTS. TRES AND THEN FINALLY, WE HAVE ALSO BEEN UPDATING THE H AND PROGRAM. NOW THAT IS A PROGRAM THAT REALLY HUNG'S IN AND SAID SOME MORE LIKE HISTORIC RENOVATION.
THERE'S OPPORTUNITY FOR THAT PROGRAM THAT CAN PROVIDE TAX BENEFITS TO ANYONE REALLY REHABBING THEIR HOME THEIR PLUMBING SYSTEM, THEIR ELECTRIC SYSTEM, AND THAT MIGHT BE A WAY TO HELP KEEP PEOPLE IN HOME AND KEEP HOME AFFORDABLE. THIS IS ONE AND THAT WE CAN DEFINITELY PURSUE AND IT'S EASY TO PUT THE POLICY IN PLACE. BUT THEN WE HAVE TO MAKE SURE WE HAVE THE RESOURCES TO ADMINISTER SO SPECIFICALLY FOR ANY PROGRAM THAT'S GOING TO HAVE AN AFFORDABILITY COMPONENT AND IT'S AND IT'S CITY LEAD. SO ALL KIDS IN THE CITY OF MCKINNEY MUST HAVE 10% WORKFORCE HOUSING. WELL, THAT'S NOT ON US TO DO THE MONITORING AND AUDITING AND CHECKING THE LEGAL DOCUMENTS, AND THAT CAN BE A BIG ENDEAVOR. SO LAST POTENTIAL PROJECTS AND THESE ARE SOME THINGS THAT CAN BE REALLY, REALLY IMPACTFUL STAFF. THESE ARE PROBABLY SOME OF OUR FAVORITES TO TARGET BECAUSE WE CAN SEE THAT THERE'S A LOT OF VALUE HERE. SO THE NEIGHBORHOOD PRESERVATION STUDY IS GOING TO GIVE US SOME VERY SPECIFIC STRATEGY FOR THE EAST MCKINNEY NEIGHBORHOODS. WE HAVE TO IMPLEMENT THOSE STRATEGIES AND THAT WILL TAKE TIME AND MONEY. WE DON'T KNOW WHAT THOSE ARE YET. BUT WE STAND READY. THAT WILL BE A VERY GOOD DIRECTION TO HAVE IS RELATED TO HOW WE WORK WITH THE EAST MCKINNEY NEIGHBORHOODS, THE COMMUNITY, LAND BANK AND LAND TRUST. WE THINK THIS IS ANOTHER POWERFUL TOOL. THAT CAN BE USED TO BUILD HOUSING AND MAINTAIN AFFORDABLE HOUSING AND MCKINNEY. ALSO FINANCIAL SUPPORT TO NONPROFITS. SO IF THE COUNCIL WANTS TO INCREASE SUPPORT FOR WORKFORCE AND AFFORDABLE HOUSING , BUT MAYBE WE DON'T HAVE THE STAFFING TO DO IT INTERNALLY. IT COULD BE ADDITIONAL FUNDING TO NON PROFITS WHO PROVIDE THAT WORK. AND THEN FINALLY, THE MCKINNEY HOUSING FINANCE CORPORATION INITIATIVES WITH PROJECT NUMBER TWO THERE WOULD LIKELY BE ADDITIONAL FUNDING THAT WOULD COME BACK TO THE CITY. I SAID INDEPENDENCE WE'RE GETTING SEVERAL MILLION DOLLARS . THAT IS MONEY THAT CAN JUST BE RETURNED AND USED FOR ALL SORTS OF WORKFORCE HOUSING INITIATIVES. AND THAT IS ALL WE HAVE FOR TODAY, HE SAID. JUST WANTED TO GIVE AN UPDATE AND SOME DISCUSSION AND WHERE WE'VE BEEN AND WHAT WE'RE UP TO ENGINE AND I ARE BOTH HERE TO ANSWER ANY QUESTIONS YOU MIGHT HAVE. QUESTIONS. THE ONE OF THE OPTIONS WAS THE FUNDING
[00:40:07]
NONPROFITS, I THINK OF HABITAT IS THERE SOMEONE ELSE I'M MISSING? THAT IS IN THAT BUSINESS THAT DOES A GOOD JOB. THERE ARE IN GENEVE PROBABLY EVEN KNOWS MORE THAN I DO SO HABITAT, OF COURSE, IS ONE. THE COMMUNITY LAND BANK LAND TRUST SCENARIO, THAT'S ACTUALLY THERE'S A LITTLE BIT OF A HYBRID THING THAT HAPPENS THERE. THE COMMUNITY CAN ESTABLISH THE LAND BANK, WHICH IS THE MONEY TO GET THE LAND AND THEN YOU PARTNER WITH THE NONPROFIT. THEY'RE THE ONES THAT ACTUALLY DEVELOP. SELL THE PROPERTY. THERE ARE OTHER ORGANIZATIONS. NEIGHBOR WORKS IS ONE THAT I'VE WORKED WITH. IN THE PAST. THEY DO EVERYTHING FROM HELP PEOPLE WITH HOME OWNERSHIP TO BUILDING DEVELOPING SELLING AND RENTING THEIR OWN HOMES, BUT THEY KEEP IT WITHIN A WORKFORCE COMPONENT. SO THERE ARE A LOT OF THEM. UM WE'RE MOST FAMILIAR WITH HABITAT HERE.COTTON GROWS BEING AN EXAMPLE. RIGHT WOULDN'T THAT BE A GOOD EXAMPLE ELOPED EXACTLY AND COMMUNITY DEVELOPMENT CORPORATION, SAYS CDCS. THAT'S KIND OF THEIR BUSINESSES. THEY DEVELOP AFFORDABLE HOUSING. THERE ARE A LOT THAT OPERATE IN TEXAS. SO DALLAS, HOUSTON, SAN ANTONIO THAT MIGHT BE INTERESTED IN OPERATING IN MAKENI, AS WELL AS PART OF THE COMMUNITY, LAND BANK COMMUNITY LAND TRUST PARTNERSHIP. THE QUESTIONS AND I'M CURIOUS. YOU TALK ABOUT A ROUTE STUDY. WHAT IS THE WHAT IS THE ROOT STUDY? REMIND ME AGAIN . I GUESS WE APPROVE SOMETHING, LIKE, USE THE SLANG. IT DIDN'T EXPLAIN IT, SO IT WAS ROUTE POLICY WAS THE NAME OF THE FIRM AND THE TITLE OF THE STUDY WAS THE HOUSING HOUSING NEEDS ASSESSMENT FOR MCKINNEY, AND IT WAS ABOUT THIS THICK OF A DOCUMENT. WAS PRESENTED TO COUNCIL IN 2020, AND WE'VE BEEN USING THE DATA FROM THAT STUDY AND THE RECOMMENDATIONS EVERY TIME WE'VE BEEN BRINGING UPDATES TO COUNCIL TO ENSURE THAT WE'RE ALIGNING WITH THOSE RECOMMENDATIONS. I THINK I THINK IT'S NOT OUR WEBSITE TOO. QUESTIONS. THANK YOU BOTH VERY MUCH. THANK YOU. ON THE ACTION ITEMS. WE JUST NEED TO CLEAR UP . WE UNDERSTOOD IT TO BE A MOTION AND SUPPORT. YES, I DON'T KNOW THAT IT WAS THAT CLEAR IF YOU GUYS COULD I THINK THE MOTION AND CORRECT ME IF I'M WRONG WITH THAT THEY WILL EVERY OPTION MOTION TO SUPPORT SUPPORT THE RESOLUTION OF SUPPORT WITH A $500 WAIVER. YES, THAT WAS MY UNDERSTANDING. WHEN I MADE THE MOTION. CONSENSUS HERE WE GO. I UNDERSTAND LEGAL FOR YES, SIR. OKAY AND WE ARE ACTUALLY PUT THE TIME TO PUT THE $500 IN THE DOCUMENTS THAT WERE READY TO GO. GREAT. THANK YOU. THANKS. THANKS MORNING. ALRIGHT CITIZEN COMMENTS REGARDING MATTERS NOT ON THE AGENDA. I DON'T SHOW ANYBODY. COUNCIL MANAGER
[COUNCIL & MANAGER COMMENTS Regarding various boards and commissions of the city]
COMMENTS REGARDING ANY BOARD COMMISSION UPDATES. COURSE. WE JUST HAD A MEETING. SO I UNDERSTAND IT MAY NOT BE ANY HOW BIG COMMENTS ON THAT. BUT I DON'T WANT THE DAY OF 2 22 TO GO BY WITHOUT RECOGNIZING THAT 78 YEARS AGO TODAY, MY FATHER AND HIS CREW WERE SHOT DOWN OVER GERMANY WITH THE SECOND TIME HE DID NOT MAKE IT BACK. THAT TIME SPENT THE REST OF THE WAR AND POW CAMP. THAT GENERATION IS FAST LEAVING US AND MY DAD HE WAS JUST DOING HIS JOB. THANK YOU. I LOVE THAT. BUT ITUNES LUTELY. MCKINNEY PLACE TONIGHT. DON'T THEY TRY MCKINNEY PLACE TONIGHT? MCKINNEY NORTH PLACE TONIGHT AND THE MECHANIC GIRLS NORTH GIRLS PLAYED TONIGHT. AND THEY ARE ALL WITHIN REACHABLE DISTANCE, BUT NONE OF THEM ARE HOME GAME SINCE IT'S THE PLAYOFF , AND I THINK THE FURTHEST IS PROSPER ROCKHILL SCHOOL BELIEVE THAT'S WHERE MCKINNEY PLAYS THE BOYS. ALL RIGHT. THEN WE WILL MOVE INTO EXECUTIVE SESSION IN ACCORDANCE WITH TEXAS GOVERNMENT[EXECUTIVE SESSION]
CODE 55171 CONSULTATIONS WITH ATTORNEY ON ANY WORK SESSIONS, SPECIAL SESSION OR REGULAR SESSION AGENDA ITEM REQUIRING CONFIDENTIAL ATTORNEY CLIENT ADVICE NECESSITATED BY THE DELIBERATION OR DISCUSSION OF SAID ITEMS SECTION 55171 PENNY OR CANNOT PLAY LITIGATION.NETFLIX HULUDAO DISNEY LITIGATION SECTION 55.87 DELIBERATIONS REGARDING ECONOMIC DEVELOPMENT MATTERS. PROJECT DLV. THERE IS NO ACTION AFTER EXECUTIVE SESSION. THE JOURNEY MOVED SECOND FAVORITE
* This transcript was compiled from uncorrected Closed Captioning.