The New Braunfels Economic Development Corporation is scheduled to consider up to $500,000 in proposed support for a 76-unit Park at Dogwood housing project on Oct. 15.
The posted item file frames the request as a public hearing followed by possible board action. A board decision is still ahead; the draft agreement does not establish approval.
Housing funding and the terms attached
The project is proposed for 1869 McQueeney Road as a 76-unit low-income housing tax credit development. Staff’s item description assigns eight units to households at 30% of area median income, 31 at 50% and 37 at 60%. These are proposed income targets, not homes already built or occupied. Staff describes total development costs of about $22.30 million and a financing shortfall of about $1.906 million. Its financial explanation also discusses roughly $272,000 in roadway fee relief, separate from the board expenditure request.
Staff says City Council denied a Sept. 14 request to seek a New Braunfels Utilities fee waiver and directed staff toward EDC funding. That account in the item file explains why the proposal is before this board. The official draft instead describes a reimbursement from EDC sales tax receipts for utility impact and capital recovery fees. Under the draft contract, reimbursement would follow occupancy certificates and paid invoices for utility impact and capital recovery fees. Its council approval date and signature lines remain blank, so readers should treat the document as proposed terms.
The board's Oct. 15 agenda pairs a public hearing on the housing request with possible action on the expenditure. The distinction matters for people assessing the project’s financing: staff recommends the expenditure, while the board must still decide whether to authorize it. The hearing is the listed opportunity for item-specific public testimony before that possible action.