Title
Conduct a Public Hearing to Consider/Discuss/Act on a Resolution of the City Council of the City of McKinney, Texas, Regarding the Application of The NRP Group, to the Texas Department of Housing and Community Affairs, for a 4% Housing Tax Credit to Construct a New Housing Development to be Known as "The Franklin Branch Apartments"
Summary
COUNCIL GOAL: Goal 1: Direction for Strategic and Economic Growth
MEETING DATE: June 2, 2026
DEPARTMENT: Housing and Community Development Department
CONTACT: Cristel Todd, Affordable Housing Administrator
Margaret Li, Housing and Community Development Director
RECOMMENDED CITY COUNCIL ACTION:
* Approve the Resolution
ITEM SUMMARY:
* The NRP Group (the "Developer") was selected as the co-development partner for the McKinney Housing Finance Corporation (MHFC) issued Request for Qualifications (RFQ)
* The NRP Group will be applying to the Texas Department of Housing and Community Affairs (TDHCA) for the non-competitive 4% tax credits to construct a new housing development to be known as the Franklin Branch Apartments (the "Project")
* The NRP Group is requesting a Resolution of No Objection from the City Council which is required under TDHCA's 2026 Qualified Allocation Plan and needed in order for the Project to receive funding from TDHCA.
BACKGROUND INFORMATION:
* On September 22, 2024, the MHFC issued an RFQ to select a qualified developer for a public private partnership deal.
* On December 13, 2024, The NRP Group was selected as the co-development partner for the MHFC RFQ.
* On February 3, 2026, the City Council approved a Petition to Annex and a Request to Zone the Subject Property to "MF36" - Multi-Family Residential District
* The Developer is proposing a 100% affordable, 288-unit multifamily housing development to be located on an approximately 15.7-acre site on the southwest corner of FM1461 and Baxter Well Road known as the Franklin Branch Apartments.
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