HomeMy WebLinkAbout031669 RES - 02/19/2019 Resolution of the City Council of the City of Corpus Christi, Texas
identifying the project known as Avanti at South Bluff as a
development that will contribute most significantly to the
concerted revitalization efforts of the City in t h e
Downtown Area Development Plan ; and providing
for an effective date .
Whereas, the City of Corpus Christi has considered the revitalization needs of
the Downtown Area Development Plan which includes the Tax Increment Reinvestment
Zone #3, (the "Designated Area") and approved a Community Revitalization Plan (the
"Plan") for the Designated Area on March 27, 2018; and
Whereas, in furtherance of the community revitalization activities noted in the
Plan, Avanti at South Bluff, LP and its affiliates (the "Applicant") propose a new
construction affordable housing development with up to 72 residential units to be located
at 509 S. Carancahua St. (the "Affordable Housing") in the Designated Area, to be
known as Avanti at South Bluff to; and
Whereas, the Applicant proposes to apply for financing for the Affordable
Housing, including Low Income Housing Tax Credits ("Tax Credits") from the Texas
Department of Housing and Community Affairs ("TDHCA") pursuant to TDHCA's 2019
Qualified Allocation Plan (the "QAP"); and
Whereas, the City supports the development of the Affordable Housing because
of its anticipated community revitalization impact for the Designated Area; and
Whereas, the Affordable Housing is the only applicant for Tax Credits in the 2019
competitive round that the City wishes to identify as contributing most significantly to the
City's revitalization efforts in the Designated area pursuant to Section 11.9(d)(7)(A)(iv)(II)
of the QAP.
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
development of the Affordable Housing and has selected the Affordable Housing as
the only proposed Tax Credit application for 2019 that contributes most significantly
to the City's concerted revitalization efforts in the Designated Area.
Section 2. This resolution shall become effective immediately upon its passage.
031669
SCANNED
The above resolution was passed by the following vote:
Joe McComb (1,4
Roland Barrera ' .i
Rudy Garza 'v;
Paulette M. Guajardo
Gil Hernandez t .
Michael Hunter
Ben Molina
Everett Roy
/GregSmith
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a
ATTEST: CITY OF CORPUS CHRISTI
aA& II
R-becca Huerta Jo- ' Comb
City Secretary Ma •
Corpus Christi, Texas
I6
day of )0,0 A , 2019
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