Godley Lot
Homeowners association — you own your lot and home; the association maintains common areas and enforces covenants.
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What Godley Lot's governing documents say
This is a Land Use Restrictive Covenant for a Low-Income Housing Tax Credit (LIHTC) rental community in Godley, TX. It binds the property owner (landlord) to income and rent restrictions for a long term—typically 30 years—and is enforceable by the Texas Department of Housing and Community Affairs. Residents must meet income limits (50% or 60% of Area Median Gross Income) and pay restricted rents.
- Affordability & income limits: The owner must keep at least 20% of units for households earning ≤50% of Area Median Gross Income (AMGI) OR at least 40% of units for households earning ≤60% of AMGI (the checkbox selection is unclear from the garbled text). In Appendix A, an additional restriction requires all units to be occupied by tenants at or below 50% of AMGI.
- Rent restrictions: Rent (including utility allowances) cannot exceed the maximum allowed for the applicable income limitation, as defined by Section 42 of the Internal Revenue Code.
- Age restriction (optional): Appendix A includes a checkbox for an age restriction: either at least 80% of units must have at least one household member aged 55+ OR 100% of units must have all household members aged 62+. It is unclear whether this restriction was elected.
- Term of restrictions: The covenant runs for a Compliance Period (15 consecutive tax years) plus an Extended Use Period (15 years after that), unless terminated earlier by foreclosure or qualified contract. The appendix may extend the Compliance Period to 25 years and the Extended Use Period to 25 years.
- Enforcement & compliance: The Department (TDHCA) monitors compliance, may inspect the project and records, and can enforce through specific performance or other remedies. Tenants and certain nonprofits can also enforce the restrictions.
- What this document doesn't cover: This document does not cover typical HOA or condominium rules (e.g., pets, parking, noise, architectural control) or tenant lease terms beyond income and rent restrictions. It is an owner-side covenant, not a resident rulebook.
Key facts from Godley Lot's documents
- Community type
- Affordable Housing — income/rent restricted (LIHTC/HOME/etc.)
- Developer / declarant
- Project Owner (a limited partnership) and Texas Department of Housing & Community Affairs (Opening recital, Page 1)
- Governing law
- Section 42 of the Internal Revenue Code of 1986, as amended; Chapter 2306, Texas Government Code (Recitals, Page 1)
- Assessments & dues
- $15 per Unit (all units, not just low-income) annually for first 12 months, subject to CPI increases (Section 7(a), Page 9)
- Amendments
- Only by written instrument signed by Project Owner and approved by Department, recorded in county real property records (Section 8(c), Page 10)
About this HOA
Godley Lot is a homeowners association in Godley, TX.
HOAproxy has 1 document on file for Godley Lot: 1 recorded document. Last updated 2026-06-10.