Council to again consider senior apartments

By BRAD KELLAR
Herald-Banner Staff

GREENVILLE May 26, 2008 12:51 am

— Organizers behind a proposed new local apartment complex aimed at senior citizens hope the third time is the charm in obtaining the endorsement of the City Council for the project.
Two weeks ago, the Council tabled items asking for the Council’s support and the approval of a Payment In Lieu of Taxes (PILOT) agreement for the The Meadows at O’Neal development, amid questions from the Council, City Manager Steve Alexander and City Attorney Brent A. Money.
Both items are back on the agenda again Tuesday, which the developers have said will be the last chance to iron out the details in time so they can still apply for tax credits which could make the project financially viable.
The Council is also scheduled to discuss the issue during the workshop session, which starts at 4:30 p.m. Tuesday.
The Meadows at O’Neal was first brought before the Council in January, as developers with the Integrated Real Estate Group had proposed a 200-unit complex geared for families in the 4700 block of O’Neal Street. At that point, the Council decided against its public support of the plan, citing concerns the City of Greenville was attracting too many “tax credit-supported housing” developments, and urging a study to determine the needs for specific types of housing in various parts of the city.
The City of Greenville currently has more than twice the state average — per capita — of such housing units.
The development has since been restudied and is now being presented as a 132-unit senior residential development, still in the same location, as a joint project between the Meadows at Oneal LP and the GHA, which is seeking Housing Tax Credits from the Texas Department of Housing and Community Affairs (TDHCA). Under the proposal, the GHA would develop an affiliate entity to own and operate the development.
As the GHA is a non-profit agency, it is tax-exempt, so the partnership had proposed a Payment In Lieu of Taxes (PILOT) agreement, which would allow for annual or quarterly payments to the City of Greenville equal to the ad valorem (property) taxes that would otherwise be levied.
The organizers of the project have said they need to obtain the Council’s support for the proposed project, and the approval of the PILOT, before the end of this month so that the partnership would be able to have time to seek the tax credits and up to $3 million in funds through the federal HOME affordable housing program.
But during the May 13 Council meeting, Mayor Tom Oliver noted how both Alexander and Money had asked for additional time to clear up questions they had concerning some of the language involved in the proposal.