HomeMy WebLinkAboutRES 022812-N - Kiron Mesquite 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 Palladium (USA) International, Inc , for the development to be known as
Kiron at Mesquite Lane located at 2805 Mesquite Land; and declaring an
effective date
Whereas, Palladium (USA) International, Inc. has proposed to construct a 82-unit multi -family
apartment complex to be known as Kiron at Mesquite Lane at 2805 Mesquite Lane in the City of
Georgetown, Williamson County, to provide for affordable rental housing within the Ci
Whereas, Palladium (USA) International, Inc intends to submit an application to the Texas
Department of Housing and Community Affairs (TDHCA) for 2012 Housing Tax Credits and
HOME Investment Partnership Program for Kiron at Mesquite Lane;
Whereas, pursuant to §50.8(2)(A), Texas Administrative Code, Palladium (USA) International,
Inc acknowledges 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 Umt of General Local
Government in applying for HOME Program funds from TDHCA for the particular
application", therefore
Be it therefore resolved that:
the City of Georgetown hereby approves of the proposed application for the construction of
Kiron at Mesquite Lane and has voted specifically to authorize an allocation of Housing Tax
Credits for this development and appoints Palladium (USA) International, Inc. toact on its
behalf in applying for 1'DHCA HOME funds for Kiron at Mesquite Lane.
Resolution Number: Page 1 of 2
Description: Kiron at Mesquite Lane Tax Credit 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:
JesicajBrettle
Ci y ecretary
APPROVED AS TO F
Bridget Chap
Acting City Attorney
THE i OF GEORGETOWN:
George Garver
Mayor
Resolution Number: f l , Page 2 of 2
Description: Kiron at Mesquite Lane Tax Credit Resolution
Date Approved: 2/28/2012