RESO 2008-01 - NOT ADOPTED, Declare support for Montgomery Meadows Phase II, LTD, for tax credits, TDHCARESOLUTION NO. 2008 -01
A RESOLUTION OF THE CITY OF HUNTSVILLE, TEXAS, DECLARING SUPPORT
FOR THE MONTGOMERY MEADOWS PHASE II, LTD., AN APPLICATION FOR
HOUSING TAX CREDITS TO THE TEXAS DEPARTMENT OF HOUSING AND
COMMUNITY AFFAIRS FOR THE YEAR 2008.
WHEREAS, Montgomery Meadows Phase II, Ltd. Has proposed an affordable rental housing
development, known as "Montgomery Meadows Phase II" in the City of Huntsville; and
WHEREAS, Montgomery Meadows Phase II, Ltd. Intends to submit an application to Texas
Department of Housing and Community Affairs (TDHCA) for 2008 Housing Tax Credits for
Montgomery Meadows Phase II; and
WHEREAS, §49.9(i)(5) of the Texas Administrative Code, which \fives Housing Tax Credit
points for the commitment of in -kind contributions by local political subdivisions, states that the
TDHCA will not qualify for points in this category "unless a resolution I submitted with the
application from the Local Political Subdivision authorizing that the Applicant act on behalf of
the local Political Subdivision in applying for Housing Tax Credits from TDHCA for the
particular application."; and
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE,
TEXAS:
That the City Council hereby declares support of the application of Montgomery Meadows Phase
II, Ltd. To TDHCA.
The name of the Local Political Subdivision/Governmental Instrumentality is the City of
Huntsville.
The type of in -kind contribution is a waiver of water, sewer and street improvement extension
requirements.
The in -kind contribution reduces the Housing Development Cost because it would reduce the
normally required costs and fees due to the city.
The total value of the in -kind contribution as a waiver of extension requirements (verification
attached) is $305,454.00, as an incentive for the development of senior housing on Montgomery
Roadand Cline Street.
The funds committed were not first provided to the Local Political Subdivision by the Applicant,
the Developer, Consultant, Related party or any individual or entity acting on behalf of the
proposed Application.
That this resolution shall take effect immediately from and after it's passage.
PASSED, ADOPTED, AND APPROVED this 22nd day of January 2008.
ATTEST: APPROVED:
Stephanie Brim, City Secretary
APPROVED AS TO FORM:
Thomas A. Leeper, City Attorney J. Turner, Mayor