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HomeMy WebLinkAboutRES 121305-O - Northwest Residential LPRESOLUTION NO. I Z 13 ©5 -0 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, SEEKING APPROVAL TO FINANCE A PROJECT FOR NORTHWEST RESIDENTIAL LP WHEREAS, the City of Georgetown (the "City") has been apprised of pending applications for low income housing tax credits (the "Applications ) as well as HOME funds (the `HOME Application) to be filed on behalf of Northwest Residential LP (the "Applicant") with the Texas Department of Housing and Community Affairs ("TDHCA") and WHEREAS, the Applicant is seeking an allocation of low income housing tax credits for the development of a multi -family affordable housing complex to be known as Northwest Residential, to be re- named Cypress Creek at River Bend, (the "Development") within the City; and WHEREAS, TDHCA requires the express approval of the governing body of the City in order for the Applicant to be awarded an allocation of low income housing tax credits by TDHCA; and WHEREAS, TDHCA requires the express approval of the governing body of the City in order for the Applicant to be awarded HOME funds by TDHCA. N OW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS, THAT: S ECTION 1. Findings. The facts and recitations contained in the preamble of this resolution are hereby found and declared to be true and correct, and are incorporated by reference herein and expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this resolution implements the following policies of the Century Plan - Policy Plan Element: 1. Policy Statement 5.0, which states: "All citizens have access to safe and adequate housing opportunities.' S ECTION 2. 1. The City hereby authorizes an allocation of low income housing tax credits for the Development 2. The City acknowledges that this resolution shall constitute a written statement of support for the Development as required by Section 50.5 (a)(7) of the 2006 Qualified Allocation Plan and Rules adopted by TDHCA as set forth in Title 10, Part 1 of the Texas Administrative Code. RESOLVED this I0 day of iv , 2004. -vat; ATTESTP Gary M'!on, Mayor Sandra D. Lee, City Secretary APP' IiVED AS TO FORM: C( /Cr' Patricia E Carts, City Attorney Northwest Residential Resolution No. 12 13 05 - 0 Page 1 of 1 Page