HomeMy WebLinkAbout030422 RES - 02/17/2015 Resolution of the City Council of the City of Corpus Christi, Texas in support of the
proposed affordable housing project known as Callicoatte Cove Homes to be
developed by Callicoatte Cove, Ltd.
Whereas, Callicoatte Cove, Ltd. (the "Applicant") has proposed a development
project to construct 105 single family rental homes to provide affordable housing that is
located at the 3900 block of Callicoatte Rd., Corpus Christi, Texas 78410 and named
Callicoatte Cove Homes ("Callicoatte Cove Homes Project"); and
Whereas, the Applicant intends to submit an application to the Texas Department
of Housing and Community Affairs ("TDHCA") for 2015 Housing Tax Credits for the
Callicoatte Cove Homes 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 2015 Qualified
Allocation Plan, Section 11.9(d)(2) 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 Callicoatte Cove
Homes 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 2015 Consolidated Annual Action Plan ("CAAP") to
support the Applicant's Callicoatte Cove Homes 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 Callicoatte Cove Homes 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 Callicoate Cove Homes
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 2015 CAAP.
030422 INDEXED
r
1)4_PASSED AND APPROVED this 11 day of , 2015 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texas
E T: 4.1Ax
CITY QF CORPUS CHRISTI
ebecca Huerta Nelda Martinez
City Secretary Mayor
Corpus Christi, Texas
421
�1 of 4 , 2015
The above resolution was passed by the following vote:
Nelda Martinez
Rudy Garza, Jr.
Chad Magill
Colleen McIntyre .,11
Lillian Riojas aho0141
Brian Rosas /
Lucy Rubio
a ' I
Mark Scott
/ �
Carolyn Vaughn
030422