HomeMy WebLinkAbout029454 RES - 04/17/2012RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS IN SUPPORT OF THE PROPOSED CONSTRUCTION
OF THE VILLAS AT WOODBEND, APPROVING AN APPLICATION
FOR 9% HOUSING TAX CREDITS AND HOME INVESTMENT
PARTNERSHIP PROGRAM FUNDS TO FINANCE SUCH PROJECT;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, CDG HOUSING CORPUS CHRISTI, Ltd. and its affiliates (the
"Applicant") propose to construct The Villas at Woodbend, an affordable housing development
consisting of 156 residential units (the "Affordable Housing") in the City of Corpus Christi,
designated for families whose income is at or below 60% of Area Median Income; and
WHEREAS, CDG Housing Corpus Christi, Ltd. intends to submit a joint application to
the Texas Department of Housing and Community Affairs ("TDHCA") for 2012 Housing Tax
Credits and HOME Investment Partnership Program funds for The Villas at Woodbend; and
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";
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CORPUS CHRISTI, TEXAS THAT:
SECTION 1. The City Council of the City of Corpus Christi hereby confirms its support for the
development of the Affordable Housing.
SECTION 2. The City Council of the City of Corpus Christi hereby approves the Applicant's
application for Housing Tax Credits from the Texas Department of Housing and Community
Affairs and authorizes an award of Housing Tax Credits for the Affordable Housing pursuant to
the Qualified Allocation Plan of the Texas Department of Housing and Community Affairs.
SECTION 3. The City Council of the City of Corpus Christi hereby recognizes the Applicant's
application for HOME Investment Partnership Funds from the Texas Department of Housing and
Community Affairs, and supports Affordable Housing.
SECTION 4. This Resolution shall become effective immediately upon its passage.
PASSED AND APPROVED this19_day of
of the City Council of the City of Corpus Christi, Texas.
1 of 3
r� , 2012 at a Regular Meeting
029454 INDEXED
ATTEST: CITY OF CORPUS CHRISTI, TEXAS
Armando Chapa, City cretary Joe Adame, Mayor
APPROVED AS TO LEGAL FORM:
April 17 , 2012
Carlos Valdez, City Attorney
Corpus Christi, Texas
1 of f! i
, 2012
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Kelley Allen
Larry Elizondo, Sr.
Priscilla G. Leal
David Loeb
John E. Marez
Nelda Martinez
Mark Scott
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