Consider approval of the policies and procedures of Denton City Public Facility Corporation, including application and award procedures.

Summary

This item concerns the approval of the policies and procedures for the Denton City Public Facility Corporation (DCPFC), including its application and award processes. The DCPFC, established on May 7, 2024, is a non-profit public instrumentality of the City of Denton designed to partner with developers of affordable housing. The proposed manual outlines key objectives such as promoting housing affordability for low-income households, addressing needs of extremely low-income individuals, encouraging geographic and economic diversity, and supporting senior and supportive housing. It details the application process, including initial staff review, a scoring matrix (requiring a minimum of 40 points), and final Board of Directors review. Project requirements include being within City of Denton limits, non-discrimination, accepting various housing assistance programs, and dedicating at least 10% of units to households at 60% AMI and an additional 40% at 80% AMI. The manual also specifies monitoring and reporting requirements for awarded partners, with program-level metrics like the number of affordable homes constructed and private funding leveraged to be publicly reported.

Citizen Impact

These policies and procedures will govern how affordable housing projects are developed and awarded in Denton. Residents can expect a structured process for developers seeking to create affordable housing, with a focus on serving extremely low, very low, and low-income households, and ensuring non-discrimination based on income source.

Confidence

high