01-05-08-Resolution-Supporting the use of Housing Tax Credits Chisum Trail Apartments-02/04/2008RESOLUTION #R 01-05-08
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANGER, TEXAS
SUPPORTING THE USE OF HOUSING TAX CREDITS TO DEVELOP THE
APARTMENTS KNOWN AS CHISUM TRAIL APARTMENTS, 1100 AUSTIN
STREET, SANGER, DENTON COUNTY, TEXAS
WHEREAS, the Chisum Trail Apartments are located at 1100 Austin Street and;
WHEREAS, according to the Texas Department of Housing and Community Affairs
QAP 50.5(a)7, the proposed development is located in a municipality that has more than
twice the state average of units per capita supported by Housing Tax Credits or private
activity bonds. When this level of Federal funds for Housing Tax Credits is already
present in a community, the municipality is required to formally acknowledge support.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SANGER, DENTON COUNTY, TEXAS:
That the governing body of the City of Sanger supports the efforts to use Housing Tax
Credits for the redevelopment of the property at 1100 Austin Street. The City further
supports a waiver to the Texas Department of Housing and Community Affairs QAP
50.5(a)7 rule that states ineligibility to proposed developments located in a municipality
that has more than twice the state average of units per capita supported by Housing Tax
Credits or private activity bonds. The City of Sanger further supports these efforts to
improve the existing housing stock in our City.
PASSED AND APPROVED on the day of , 2008.
APPROVED:
Joe Higgs May
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to 0 Rosalie Chavez `'" r., Y ``
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City Secretary