HomeMy WebLinkAbout030105 RES - 02/25/2014Resolution of the City Council of the City of Corpus Christi, Texas adopting a City
Central Corridor Community Revitalization Plan for an area encompassing the
border streets of Staples Street on the East, Everhart Road to the South, Saratoga
Boulevard to the West, and Ayers Street to the North; and providing an effective
date.
Whereas, the City of Corpus Christi, Texas has considered the revitalization
needs of the City Central Corridor (the "Designated Area ");
Whereas, the City's considerations have incorporated public comment on factors
including, but not limited to the following factors that may impact the Designated Area's
need for revitalization: environmental conditions; real estate challenges, including
vacancy and declining property values; infrastructure needs; adequacy of
transportation; community amenities, including local public services such as libraries,
parks, medical care and first responders; crime rates; school performance; the presence
and need for business and employment opportunities; and diversification of the
residents, businesses, and opportunities in the Designated Area;
Whereas, the City Council has reviewed the City Central Corridor Community
Revitalization Plan for the Designated Area (the "Plan ");
Whereas, the Plan contemplates activities that have already been performed in
the Designated Area and funding that has already been awarded to the Designated
Area for such activities, along with additional and future proposed activities and funding
for the Designated Area;
Whereas, the City believes that the full funding for the activities described in the
Plan will be available;
Whereas, in furtherance of the community revitalization activities noted in the
Plan, TG 110 Lexington Manor. LP and its affiliates (the "Applicant ") propose to
reconstruct an affordable housing development with up to 153 residential units (the
"Affordable Housing ") in the Designated Area, to be known as the Lexington Manor
Apartments;
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 2014
Qualified Allocation Plan (the "QAP ");
Whereas, the City supports the development of Affordable Housing in the
Designated Area because of its anticipated community revitalization impact; and
Whereas, the Affordable Housing is the only applicant for Tax Credits in the
2014 competitive round that the City wishes to receive two (2) points under
11.9(d)(7)(a)(ii)(III) of the QAP for contributing significantly to the City's revitalization
efforts;
Resolution for Revitalization Plan
030105
INDEXED
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS THAT:
Section One. The City hereby adopts the Plan in all respects.
Section Two. The City supports the development of the Affordable Housing
and has selected the Affordable Housing as the only proposed Tax Credit application for
2014 that contributes most significantly to the City's concerted revitalization efforts.
Section Three. This Resolution shall become effective immediately upon its
passage.
PASSED AND APPROVED this .s- day of Viotau , 2014 at a
Regular Meeting of the City Council of the City of Corpus Christi, Texas
Rebecca Huerta
City Secretary
Corpus Christi, Texas
of
CI O ORPUS CHRISTI
Nelda Mar it zz
Mayor
The above resolution was passed by the following vote:
Nelda Martinez
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
Resolution for Revitalization Plan
030105