HomeMy WebLinkAboutRES 24-052
RESOLUTION NO. 24-052
BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF BEAUMONT:
WHEREAS, KCG Prado Place, LP, on behalf of KCG Development LLC, of
Indianapolis, Indiana, has proposed a development for affordable rental housing at 415 S. 11th
Street, Beaumont, Texas 77701 named Prado Place in the City of Beaumont, County of
Jefferson; and,
WHEREAS, KCG Prado Place, LP, has advised that it intends to submit an application to
the Texas Department of Housing and Community Affairs for 2024 Competitive 9% Housing
Tax Credits for Prado Place; and,
WHEREAS, the City Council of City of Beaumont finds there is a need for such
affordable housing for citizens within the boundaries of the City of Beaumont; and,
WHEREAS the City Council of City of Beaumont confirms that the development of
Prado Place will contribute to the concerted revitalization efforts of the City as defined by
Neighborhood Empowerment Zone #1, within which the proposed development site is located;
and,
WHEREAS the City Council acknowledges and confirms, are required by TDHCA, that
the City of Beaumont has more than twice the state average of units per capita supported by
Housing Tax Credits or Private Activity Bonds;