HomeMy WebLinkAbout031082 RES - 02/28/2017 Resolution of the City Council of the City of Corpus Christi, Texas in support of the
proposed affordable housing project known as The Avanti Bayside to be developed
by MDS Housing Lipes, Ltd.
Whereas, MDS Housing Lipes, Ltd. (the "Applicant") has proposed a
development project to construct approximately 96 apartments to provide affordable
housing that is located near the southwest corner of Lipes Blvd. and Rivergate Dr., Corpus
Christi, Texas 78413 and named The Avanti Bayside ("The Avanti Bayside Project"); and
Whereas, the Applicant intends to submit an application to the Texas Department
of Housing and Community Affairs ("TDHCA") for 2017 Housing Tax Credits for The
Avanti Bayside 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 2017 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 Avanti Bayside
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 2017 Consolidated Annual Action Plan ("CAAP") to
support the Applicant's The Avanti Bayside 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 The Avanti Bayside 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 Avanti Bayside 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 2017 CAAP.
03108a
INDEXED
PASSED AND APPROVED this 41„1,(- h day of .p , l,t (?)&( , 2017 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texas.
ATTEST: CITY OF CORPUS,,CHRISTI ct„.„ 1,t,„,,t,_1/4
Rebecca Huerta Mayor
City Secretary
Corpus Christi, Texas
'h) of kbak • , 2017
The above resolution was passed by the following vote:
Mayor
Rudy Garza
Paulette Guajardo (�
Michael Hunter -(1k
Joe McComb
Ben Molina
Lucy Rubio
Greg Smith
Carolyn Vaughn
(131082