HomeMy WebLinkAbout031083 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 Village at Henderson to be
developed by TG 110 Village at Henderson, LP.
Whereas, TG 110 Village at Henderson, LP. (the "Applicant") has proposed a
development project to construct approximately 88 apartments to provide affordable
housing that is located at 5409 Lipes Blvd., Corpus Christi, Texas 78413 and named
Village at Henderson ("Village at Henderson 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
Village at Henderson 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 Village at
Henderson 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 2017 Consolidated Annual Action Plan ("CAAP") to
support the Applicant's Village at Henderson 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 Village at Henderson 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 Village at Henderson 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.
031083
INDEXED
PASSED AND APPROVED this n day of #AA i , 2017 at a Regular
Meeting of the City Council of the City of Corpus Christi, Texas.
EV: CITY OF CORPUS CHRIS
144, t . O.
Rebecca Huerta Mayor
City Secretary
Corpus Christi, Texas
Wh\lof 6Citi , 2017
The above resolution was passed by the following vote:
Mayor \/QCCU4
Rudy Garza ��-
Paulette Guajardo
Michael Hunter
Joe McComb
Ben Molina
Lucy Rubio
Greg Smith
Carolyn Vaughn
031083