HomeMy WebLinkAboutRES 021412-JRESOLUTION NO. —3—
A Resolution of the City Council of the City of Georgetown, Texas approving a
Housing Tax Credit and HOME Investment Partnership Program proposal
with Highland Property Development LLC, for the development named San
Gabriel Apartment located at 1100 Leander Road; and declaring an effectivt
date
Whereas, Highland Property Development LLC has proposed to acquire and
rehabilitate an existing, 136-unit USDA-subsidized multi-family apartment complex
known as San Gabriel Apartments at 1100 Leander Road in the City of Georgetown,
Williamson County, to continue to provide for affordable rental housing within the
City;
Whereas, Highland Property Development LLC intends to submit a joint application to
the Texas Department of Housing and Community Affairs (TDHCA) for 2012 Housing
Tax Credits and HOME Investment Partnership Program funds for San Gabriel
Apartments;
Whereas, §50.9(b)(5), Texas Administrative Code, which gives Housing Tax Credit
points for the commitment of development funding by the Unit of General Local
Government, states that the TDHCA HOME Program funds will not qualify for points
in this category "unless a resolution is submitted with the application from the
Governing Body of the Unit of General Local Government authorizing that the
Applicant act on behalf of the Unit of General Local Government in applying for HOME
Program funds from TDHCA for the particular application."
Whereas, pursuant to §50.8(2)(A), Texas Administrative Code, Highland Property
Development LLC acknowledges that the City of Georgetown has more than twice the
state average of units per capita supported by Housing Tax Credits or Private Activity
Bonds;
Be it therefore resolved that:
The City of Georgetown hereby (i) appoints Highland Property Development LLC to
act on its behalf in applying for TDHCA HOME funds for San Gabriel Apartments, and
(ii) approves of the proposed application for the rehabilitation of San Gabriel
Apartments and has voted specifically to authorize an allocation of Housing Tax
Credits for this development.
Resolution Number: Page 1 of 2
Description: San Gabriel Apartments Tax Credit & HOME Resolution
Date Approved: 2/14/2012
Adopted and approved by the City Council of the City of Georgetown on the 14th day of
February 2012.
ATTEST:
APPROVED AS TO FORM:
Bridget Chapran
Acting City Attorney
Resolution Number: Page 2 of 2
Description: San Gabriel Apartments Tax Credit & HOME Resolution
Date Approved: 2/14/2012