HomeMy WebLinkAboutRES 06-059 RESOLUTION NO. 06-059
BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF BEAUMONT:
THAT the City Manager be and he is hereby authorized to execute a conditional letter of
commitment committing funds made available for on-site development costs for the
following projects at the funding levels indicated:
• Beaumont Downtown Lofts
527 Forsythe Street and
620 Pearl Street
40 low income units proposed at$1,001.00 per unit for a total
commitment of$40,040.
• Gulf Street Terrace
2900 Block of Gulf Street
120 low income units proposed at$1,001.00 per unit for a total
commitment of$120,120.
• Stone Hearst II
1650 East Lucas Drive
97 low income units proposed at $1,001.00 per unit for a total
commitment of$97,097.
• Sienna Trails Development
Concord Road behind Circuit City
106 low income units proposed at$1,001.00 per unit for a total
commitment of$106,106.00 (loan).
These commitments are contingent upon these projects receiving an allocation of
low-income housing tax credits,favorable environmental reviews and satisfaction of HOME
fund program requirements.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 14th day of
February, 2006.
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Mayor Guy N. Goodson -
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