HomeMy WebLinkAbout031084 RES - 02/28/2017 Resolution of the City Council of the City of Corpus Christi, Texas in support of the
proposed affordable housing project known as Samuel Place Apartments to be
developed by TG 110 Samuel Place, LP.
Whereas, TG 110 Samuel Place, LP. (the "Applicant") has proposed a
development project to substantially renovate 60 apartments to provide affordable
housing that is located at 4315 Carroll Ln., Corpus Christi, Texas 78411 and named
Samuel Place Apartments ("Samuel Place Apartment Project"); and
Whereas, the Applicant intends to submit an application to the Texas Department
of Housing and Community Affairs ("TDHCA") for 2017 Housing Tax Credits for the
Samuel Place Apartment Project; and
Whereas, the City of Corpus Christi will provide its assistance under the HOME
Program utilizing loan terms that meet the requirements of the TDHCA 2017 Qualified
Allocation Plan, Section 11.9 (d)(1) in order to ensure the maximum possible score by the
applicant under TDHCA's rules;
Whereas, the Applicant has pre-applied for HOME funding for the Samuel Place
Apartment Project in the amount of$300,000 from the City of Corpus Christi; and
Whereas, the City of Corpus Christi intends to commit set aside HOME Funds
from the City of Corpus Christi FY 2017 Consolidated Annual Action Plan ("CAAP") to
support the Applicant's Samuel Place Apartment Project contingent upon an award of
Housing Tax Credits from the TDHCA to Applicant and subject to available funds.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS:
Section 1. The City Council for the City of Corpus Christi hereby supports the
proposed Samuel Place Apartment Project.
Section 2. The City Council for the City of Corpus Christi hereby acknowledges
the support for the allocation of Housing Tax Credits for the Samuel Place Apartment
Project. Funding from the City of Corpus Christi for this proposed project will be subject
to award of Housing Tax Credits to Applicant and receipt of available HOME funds to be
approved by U.S. Department of Housing and Urban Development through the City of
Corpus Christi FY 2017 CAAP.
031084
INDEXED
9-01—
PASSED AND APPROVED thisay of 1/1.1(Q PAI..2017 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texas.
Le\ATTEST: CITY OF CORPUS CHRISTI.
Rebecca Huerta Mayor
City Secretary
Corpus Christi, Texas
48 of 6 , 2017
The above resolution was passed by the following vote:
Mayor
Rudy Garza
Paulette Guajardo �.
Michael Hunter
Joe McComb I
Ben Molina
a �/
Lucy Rubio . . At
Greg Smith
/1'OL
Carolyn Vaughn
031084