HomeMy WebLinkAboutRES 15-024RESOLUTION NO. 15-024
A RESOLUTION OF THE CITY OF BEAUMONT, TEXAS (A)
EVIDENCING SUPPORT FOR A PROPOSED DEVELOPMENT
TO BE BUILT IN BEAUMONT; (B) AUTHORIZING A POSSIBLE
AWARD OF HOUSING TAX CREDITS FOR THE
DEVELOPMENT; AND (C) AUTHORIZING SUCH OTHER
ACTIONS NECESSARY OR CONVENIENT TO CARRY OUT THIS
RESOLUTION.
WHEREAS, Beaumont Place, LP, a Texas to -be -formed limited
partnership ("Applicant"), is applying to the Texas Department of Housing and
Community Affairs (the "TDHCA") for 2015 Housing Tax Credits to provide equity
financing for a proposed new construction of 128 units of rental housing for
elderly citizens, of which 112 units will be income and rent restricted; such
development to be called Place of Grace (the "Development"), to be located in
the southern quadrant of the intersection of Sarah Street and Fannet Road, and
to be owned by the Applicant; and,
WHEREAS, City Council wishes to evidence its support for this proposed
Development in the City of Beaumont and to facilitate the possible award of 2015
Housing Tax Credits to the Development; and,
WHEREAS, the Development will be located in a Qualified Census Tract
that has more than 20% Housing Tax Credit Units per total household in the
census tract; and the City of Beaumont has more than twice the state average of
units per capita supported by Housing Tax Credits or Private Activity Bonds, and
therefore must specifically authorize the Development for the purpose of
establishing the Development's eligibility for Housing Tax Credits under 10 TAC
§11.3(d) and its eligibility for the 30 percent boost in Eligible Basis under 10 TAC
§11.4(c)(1);
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the statements and findings set out in the preamble to this resolution are
hereby, in all things, approved and adopted; and,
THAT the City of Beaumont, acting through its governing body, hereby
confirms that it supports the proposed Place of Grace development to be located
in the southern quadrant of the intersection of Sarah Street and Fannett Road,
and that this formal action has been taken to put on record the opinion expressed
by the City on this date for the purpose of 10 TAC §11.9(d)(1); and,
BE IT FURTHER RESOLVED THAT as provided for in 10 TAC §11.3(d)
and §11.4(c)(1), it is hereby acknowledged that the proposed Place of Grace will
be New Construction and is located in a Qualified Census Tract that has more
than 20% Housing Tax Credit Units per total households in the census tract and
the City of Beaumont hereby confirms its support of the proposed Place of Grace
development, and confirms that its governing body has voted specifically to
approve the construction of the Development and to authorize an allocation of
Housing Tax Credits for the Development; and,
BE IT ALSO RESOLVED THAT the City of Beaumont hereby supports the
proposed Place of Grace development, and confirms that its governing body has
voted specifically to approve the construction of the Development and to
authorize an allocation of Housing Tax Credits for the Development pursuant to
Texas Government Code §2306.6703(a)(4); and,
BE IT ALSO RESOLVED THAT for and on behalf of the Governing Body,
City Manager Kyle Hayes is hereby authorized, empowered, and directed to
certify these resolutions to the TDHCA; and
BE IT ALSO RESOLVED THAT the City Council hereby approves and
authorizes the execution on behalf of the City of all other documents and writings
whatsoever that may be necessary or convenient, in the reasonable opinion of
the City Attorney, for carrying out these resolutions; and
BE IT ALSO RESOLVED THAT these resolutions shall be effective as of
their date of passage by City Council.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 3rd
day of February, 2015.