02-01-15-Resolution-Supporting Church Street Housing Development-02/06/2015RESOLUTION
#R02-01-15
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANGER, TEXAS
SUPPORTING A PROPOSED AFFORDABLE HOUSING COMMUNITY; PROVIDING
FINANCING AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City benefits from the availability of affordable housing for its residents of
lower economic means;
WHEREAS, Church Street Housing, L.P. (to be formed) and its affiliates (the
"Applicant") propose to build an affordable housing Qualified Elderly development of 60
residential units of which 56 will be housing tax credit units (the "Affordable Housing") in the
City of Sanger; and
WHEREAS, the Affordable Housing is expected to be located at the NEQ of Church
Street and Interstate 35 and is expected to be named "The Courtyard Apartments"; and
WHEREAS, the Applicant has submitted apre-application (TDHCA No.15029) and
proposes to submit a final application for financing for the Affordable Housing, including 2015
9% Competitive Low Income Housing Tax Credits ("Tax Credits") from the Texas Department
A Housing and Community Affairs; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SANGER, TEXAS THAT:
SECTION ONE. The City Council of the City of Sanger hereby confirms its support for
the development and construction of the Affordable Housing described above and that this
formal action has been taken to put on record the opinion expressed by the City on this date.
SECTION TWO. The City Council of the City of Sanger hereby supports the
Applicant's application for Tax Credits from the Texas Department of Housing and Community
Affairs and supports an award of Tax Credits for the Affordable Housing pursuant to the 2015
Qualified Allocation Plan of the Texas Department of Housing and Community Affairs,
SECTION THREE. In accordance with 10 Texas Administrative Code § 11.9(d)(2), the
City hereby commits to financing of the Affordable Housing in an amount equal to the
population of the City of Sanger multiplied by a factor of 0.15, multiplied by the number of Low
Income Units in the Affordable Housing. Financing of $60,0000 shall be in the form of one or
more of the following: an in -kind contribution such as a fee waiver; or reduction or other form
of contribution such as infrastructure or real property tax abatement or a permanent loan with a
term of at least 15 years, an amortization of at least 30 years, and an interest rate no greater than
3% per annum or any other form of permanent financial participation by the City acceptable to
the Texas Department of Housing and Community Affairs to achieve the maximum level of
points.
SECTION FOUR, The City of Sanger confirms to the Texas Department of Housing
and Community Affairs the City has not and shall not first receive the funds from the Applicant
or any related party.
SECTION FIVE. For and on behalf of the City Council, Thomas Muir, Mayor, is
hereby authorized, empowered, and directed to certify these resolutions to the Texas Department
A Housing and Community Affairs.
SECTION SIX. This Resolution shall become effective immediately upon its passage.
PASSED AND APPROVED this Gay of February, 2015 at a Regular Meeting of the City
Council of the City of Sanger, Texas..
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TEXAS
Tami Taber, City Secretary
Thomas Muir, Mayor