HomeMy WebLinkAboutRES 12-141 RESOLUTION NO. 12-141
WHEREAS,the City Council of the City of Beaumont(the"City")has been apprised
of the pending application for tax credits (the "Application") filed for the rehabilitation and
improvement of Pine Club Apartments(the"Development"),a two hundred thirty-two(232)
unit multi-family housing development located at 5015 Pine Street, a Low Income Housing
Tax Credit (LIHTC) project through the Texas Department of Housing and Community
Affairs (TDHCA); and
WHEREAS, the City is a municipality that has more than twice the state average of
residential units per capita supported by tax credits or private activity bonds at the time the
2012 Application round begins and,therefore, pursuant to Section 50.8(2XA)of the Texas
Administrative Code,the TDHCA requires the express prior support of the governing body
of the City and a written statement of support of the allocation of Housing Tax Credits in
order for the Applicant to be awarded an allocation of Housing Tax Credits by TDHCA;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
Section 1. THAT the statements and findings set out in the preamble to this
resolution are hereby, in all things, approved and adopted; and
Section 2. This resolution in no way commits the City of Beaumont to provide any
funding for the proposed project.
Section 3. This project is still subject to any and all zoning, construction and all
applicable regulations of the City of Beaumont and will be required to comply with same.
Section 4. The governing body of the City hereby offers preliminary support for the
rehabilitation and improvement of the Development within the City.
Section 5. The governing body of the City hereby supports the allocation of Housing
Tax Credits for the Development.
Section 6. The governing body of the City hereby acknowledges that this resolution
shall constitute a written statement of support for the construction of the Development as
required by Section 50.8(2)(A) of the Texas Administrative Code.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 26th day of
June, 2012.
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