HomeMy WebLinkAbout030425 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 911 Glenoak Apartments to be
developed by TG 110 Glenoak, LP.
Whereas, TG 100 Glenoak LP. (the "Applicant") has proposed a development
project to demolish and reconstruct 68 apartments to provide affordable housing that is
located at 711 Glenoak Dr., Corpus Christi, Texas 78418 and named 911 Glenoak
Apartments ("911 Glenoak Apartment 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 911
Glenoak 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 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 911 Glenoak
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 2015 Consolidated Annual Action Plan ("CAAP") to
support the Applicant's 911 Glenoak 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 911 Glenoak 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 911 Glenoak 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 2015 CAAP.
030425
INDEXED
PASSED AND APPROVED this � day of , 015 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texas.
CITY OF C PUS CHRISTI
Rebecca Huerta Nelda Martinez
City Secretary Mayor
Corpus Christi, Texas
I of
kb4l4 , 2015
The above resolution was passed by the following vote:
Nelda Martinez
Rudy Garza, Jr.
Chad Magill
Colleen McIntyre
Lillian Riojas OJvtQAk__k
Brian Rosas -(4
Lucy Rubio
Mark Scott -a-A/dL
Carolyn Vaughn
0304 `'5