City Council Supports Overland Property Group

City Council Supports Overland Property Group

A resolution of support from the City Council is vital for a tax-credit housing project to gather enough points to successfully submit a project for consideration by the Texas Department of Housing and Community Affairs. Wolfforth City Council voted to support just one of the five projects presented to them back in February and Overland Property Group was the choice by a council vote. Brett Johnson, with Overland, began his talks with the City of Wolfforth back in November of 2014. Their project would be located just off Alcove and Preston Trails. The 10.269 acre site would contain 100 tax credit units and more than 40 market rate units in a two story configuration.  The site is currently zoned as a planned unit development to  contain single family, multi-family and light commercial projects.

The resolution of support is just one piece of the application that Overland Property Group will submit to the Texas Department of Housing and Community Affairs. The Housing Tax Credit Program is designed to direct private capital to the development of affordable housing for  income qualified families and only one project in the Region will be awarded. Wolfforth is included in Region 1 Urban which also includes Lubbock and Amarillo. TDHCA is expected to announce its decision in July of 2015. For more information about the Housing Tax Credit Program or the Texas Department of Housing and Community, visit www.tdhca.state.tx.us