RESO 2007-02 - Declare support for Montgomery Meadows Phase II, LTD, for tax credits, TDHCARESOLUTION NO. 2007 -02
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 2007.
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 2007
Housing Tax Credits for Montgomery Meadows Phase II; and
WHEREAS, §49.9(i)(5) of the Texas Administrative Code, which gives
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 is 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 $151,228.00, as an incentive for the development of senior housing on Montgomery
Road and 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 20th day of February, 2007.
ATTEST: APPROVED:
Danna Welter, City Secretary
APPROVED AS TO FORM:
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February 20, 2007