HomeMy WebLinkAboutR2017-005S:\Legal\Our pocue�ients\Resolutians\i7\dentan palladium.docx
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PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Palladium Denton, Ltd., a Texas ta-be-formed limited partnership
/66Applicant"), is proposing the new construction of multi-family housing called Palladium Dentan
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Apartments (the "Project"), which will be located at the south side of Hwy 288 and east of Sherman
Drive, Denton, Dentan County, Texas, and which will be owned by the Applicant and used to
pravide affordable and market rate rental housing; and
WHEREAS, the Applicant has advised that it intends to submit an application to the Texas
Department of Housing and Cammunity Affairs (the 66TDHCA") for 2017 Competitive Housing
Tax Credits to provide equity financing for the Project, and the Hausing Tax Credits are
campetitively awarded, largely on the basis of points; and
WHEREAS, pursuant to Title 10, Rule 11.9(d)(1) of the Texas Administrative Code, 10
TAC § 11, 9(d}(1), the TDHCA will provide up to 17 points for a municipality's resolution of
support far a development which will be located in such municipality's jurisdictian; and
WHE AS, the City Council of the City of Denton, Texas, wishes to evidence its support
for this proposed Project in the City of Denton and to facilitate the possible award of Housing Tax
Credits ta the Project; NOW, THEREFORE,
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S:\Legal\Our pocuments\Resolutions\17\denton palladium.docx
Resolution shall be contingent on: (i) the Applicant securing hausing tax credits from TDHCA and
(ii} development plan approvals (including any required zoning) by the City.
S�CTION 4. The City Council hereby approves and autharizes the executian on behalf of
the City of all other documents and writings whatsoever that may be necessary or convenient, in
the reasonable opinian of either the Interim City Manager ar the City Attorney, for carrying aut
these resolutions; and
SECTION�S. The City Manager Todd Hileman is hereby authorized, empowered, and
directed to certify these resolutions to the TDHCA, and, that these resolutions shall be effective as
of their date of passage by City Council,
PASSED AND APPROVED this ''�`� day of ����"�����' .�� �017.
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�" ��tl� WATTS,�MAYOR ��
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
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By: �;-r � ���'�,��°`,� ��'"��� ������
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APPROVED AS TO LEGAL FORM:
AARON LEAL 1NTERIM CITY ATTORNEY
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