HomeMy WebLinkAboutRES 022812-M - 501 Janis Dr Tax & HOMERESOLUTION NO.
A Resolution of the City Council of the City of Georgetown, Texas approving a
Housing Tax Credit and HOME Investment Partnership Program proposal
with THF Gateway Northwest, Ltd, for the development to be known as
Gateway Northwest Apartments located at 501 Janis Drive; and declaring an
effective date
Whereas, THE Gateway Northwest, Ltd. intends to submit an application to the Texas
Department of Housing and Community Affairs (TDHCA) for 2012 Housing Tax Credits or
Private Activity Bonds and HOME Invest.nient Partnership Program funds for Gateway
Northwest; and
Whereas, pursuant to §50.8(2)(A), Texas Administrative Code, we acknowledge that the City of
Georgetown has more than twice the state average of units per capita supported by Housing
Tax Credits or Private Activity Bonds;
Whereas, §50.9(b)(5), Texas Administrative Code, which gives Housing Tax Credit points for
the commitment of development funding by the Unit of General Local Government, states that
the TDHCA HOME Program funds will not qualify for points in this category "unless a
resolution is submitted with the application from the Governing Body of the Unit of General
Local Government authorizing that the Applicant act on behalf of the Unit of General Local
Government in applying for HOME Program funds from TDHCA for the particular
application"; therefore
Be it resolved that:
The City of Georgetown hereby supports the proposed Gateway Northwest, including its
efforts to receive funding under the 2012 Housing Tax Credit and HOME Investment
Partnership Programs, because there is a need for affordable housing m Georgetown. The City
of Georgetown has voted specifically to approve the construction of the Development and to
authorize an allocation of Housing Tax Credits for the Development, and appoints THF
Gateway Northwest, Ltd. to act on its behalf in applying for TDHCA HOME funds for Gateway
Northwest.
Resolution Number: Page 1 of 2
Description: Gateway Northwest Apartments Tax Credit & HOME Resolution
Date Approved* 2/28/2012
Adopted and approved by the City Council of the City of Georgetown on the 28th day of
February 2012.
ATTEST:
Je ica Brettle
ecretary
APPROVED AS TO FORM:
Bridget Chap an
Acting City Attorney
THE CI I'Y OF GEORGETOWN:
George Garver
Mayor
Resolution Number: .,. Page 2 of 2
Description: Gateway Northwest Apartments Tax Credit & HOME Resolution
Date Approved: 2/28/2012