HomeMy WebLinkAbout030778 RES - 02/23/2016 Resolution of the City Council of the City of Corpus Christi, Texas in support of
the proposed affordable housing project known as Calallen Apartments to be
developed by ProsperaHCS Calallen, LP.
Whereas, ProsperaHCS Calallen, LP (the "Applicant") has proposed a
development project to construct 96 apartments to provide affordable housing that is
located at approximately 14800 Northwest, Corpus Christi, Texas 78410 and named
Calallen Apartments ("Calallen Apartment Project"); and
Whereas, the Applicant intends to submit an application to the Texas
Department of Housing and Community Affairs ("TDHCA") for 2016 Housing Tax
Credits for the Calallen 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 2016 Qualified
Allocation Plan, Section 11.9 (d)(1) 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 Calallen
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 2016 Consolidated Annual Action Plan ("CAAP") to
support the Applicant's Calallen 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 Calallen 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 Calallen 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 2016 CAAP.
03078
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PASSED AND APPROVED this 2:.) day of ..40 I /,� , 2016 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texas,
TE T: I CITY O Cwt US CHRISTI
Rebecca Huerta Nelda Martine
City Secretary Mayor
Corpus Christi, Texas
r '
) of • �,� , 2016
The above resolution was passed by the following vote:
Nelda Martinezlt—
Rudy Garza, Jr. L.. ,.
Chad Magill
Colleen McIntyre
Lillian Rioas II
Riojas
Brian Rosas
Lucy Rubio —70
-ILL4
Mark Scott
Carolyn Vaughn `(7
030778