Future Texas Housing Foundation (THF) projects in Marble Falls will face individual City Council review of their affordability requirements, potential property tax exemptions, and impact on public services.

The council approved an agreement with the regional public housing authority Oct. 6, formally recognizing five existing housing properties while establishing requirements for future developments.

Under Texas law, regional housing authorities need municipal authorization to undertake housing projects within city limits. In approving the agreement, the council recognized a shortage of affordable rental housing for lower-income residents and seniors, establishing the need for THF to operate its existing properties.

No new construction was approved. Future developments, expansions and additional property acquisitions will require separate council approval, with consideration given to the number of housing units, affordability requirements, financing and potential impacts on property tax revenue and municipal services.

Marble Falls also can require THF to help cover the estimated cost of services such as police and fire protection, road maintenance and drainage. Those payments, made in place of taxes or special assessments, would be negotiated separately for each future project.

The authorization covers five existing properties: Oak Creek Townhomes, Oak Grove Apartments, Hill Country Villas, The Vistas and Highland Oaks Senior Living Apartments.

THF must also maintain its Community Resource Center at 1016 Broadway for 15 years, preserving office and program space for nonprofit and community organizations currently serving residents there. Significantly reducing that space or discontinuing the center’s use would require council approval.

The housing authority must submit annual reports detailing its properties, affordability requirements, property tax exemptions, payments to the city and community services.

maci@thepicayune.com