HomeMy WebLinkAbout030780 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 Samuel Place Apartments to
be developed by TG 110 Samuel Place, LP.
Whereas, TG 110 Samuel Place, LP. (the "Applicant") has proposed a
development project to demolish and reconstruct 60 apartments to provide affordable
housing that is located at 4315 Carroll Ln., Corpus Christi, Texas 78411 and named
Samuel Place Apartments ("Samuel Place 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 Samuel Place 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 Samuel Place
Apartment Project in the amount of$200,000 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 Samuel Place 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 Samuel Place 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 Samuel Place 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.
030780
INDEXED
PASSED AND APPROVED this3 day of iebe-tlaVtirr- , 2016 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texa
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Rebecca Huerta Nel a
City Secretary Mayor
Corpus Christi, Texas
O of La 's (.!- , 2016
The above resolution was passed by the following vote:
Nelda Martinez
1
Rudy Garza, Jr.
Chad Magill
Colleen McIntyre
Lillian Riojas
Brian Rosas I -42
Lucy Rubio ".)
Mark Scott
Carolyn Vaughn �, O
030780