1. Denton approves amendments to housing tax credit program
Council approved updated requirements for developers to receive housing tax credits.
The housing tax credit program is a federally funded, state-administered program that supports affordable housing by giving tax exemptions to developments that include income-restricted rental housing, per city documents.
The new scoring system will award up to 100 points based on factors such as affordability levels, location in high-opportunity areas, rehabilitation of existing housing, senior or supportive housing, and participation in local homelessness programs. Projects would need to meet point thresholds to move forward for council consideration, with higher bars set for developments receiving property tax exemptions.
Council will also hold an annual work session to review this policy. This will offer staff a chance to provide an annual update on the status of Denton’s housing affordability and receive direction on council’s priorities for affordable housing initiatives, city documents state.
2. City officials discussed the process of hiring an interim city manager
Council members discussed a transition plan for the city manager role during the work session.
City Manager Sara Hensley’s last day with the city of Denton will be March 31, Director of Human Resources Megan Gilbreath said.
“I believe it’s in our best interest to have an interim city manager,” council member Jill Jester said. “I think the sooner, the better.”
Council members could not reach a consensus on the process and adjourned into a closed session for further discussion.
3. Denton OKs up to $300M in utility system refunding bonds
Denton City Council approved an ordinance allowing the city to sell up to $300 million in Utility System Revenue Refunding Bonds as part of its Utility System Extendable Commercial Paper program.
The city established the program in 2021 to help manage short-term debt tied to utility projects, per city documents. Commercial paper, short-term notes used to temporarily finance improvements, must be paid off or refinanced within 270 days of issuance, city documents state.
This ordinance gives designated city officials the authority to convert that short-term debt into long-term bonds if needed, without returning to council each time for approval.
This ordinance is usually adopted annually and was last approved Dec. 3, 2024, city documents state.
