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HomeMy WebLinkAbout21-76221-762RESOLUTION NO . A RESOLUTION OF THE CITY OF DENTON STATING NO OBJECTION TO THE TX LEGACY DENTON, LP 4% HOUSING TAX CREDIT APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFARS FOR PROPOSED NEW CONSTRUCTION OF THE LEGACY IN DENTON APARTMENTS TO PROVDE AFFORDABLE RENTAL HOUSRVG; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, TX Legacy Denton, LP (" Applicant") is proposing the new construction of a multi-family affordable rental housing development to be located at approximately 4298 E. McKinney, Denton, Texas 76208 to be named The Legacy in Denton Apartments (the "Project"); and WHEREAS, the Applicant has advised the City of Denton (the “City”) that it intends to submit an application to the Texas Department of Housing and Community Affairs ("TDHCA") for 2021 or 2022 Non-Competitive 4% Housing Tax Credit funds to provide equity financing for the Project (the “Application”); and WHEREAS, Applicant has requested a resolution stating no objection from the City; and WHEREAS, Applicant has advised the City that it intends to seek property tax exempt status for the Project and to that end has committed to the City that it will use its best efforts to partner with a qualified charitable organization based in Denton County, Texas and that it will use its best efforts, and that it will cause its contractors and subcontractors on the Project to each use their best efforts, to maximize sales tax payable to the City by obtaining equipment and construction materials under “separated contracts” and not “lump-sum contracts“ as defined in the TEX. ADMIN. CODE, Title 34, Chapter 3, Subchapter O, Rule §3.291(a)(3) and (13) from vendors having a place of business within the City of Denton or, if obtained from vendors with no place of business in Texas or if ordering directly from suppliers, from vendors or suppliers who ship and deliver the equipment and materials to a location within the City of Denton; and WHEREAS, the City Council of the City of Denton wishes to state it has no objection to this proposed Project’s application to TDHCA to facilitate the possible award of Housing Tax Credits to the Project; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES: SECTION 1. The recitals contained in the preamble of this Resolution are incorporated by reference into the body of this Resolution as if fully set forth herein. SECTION 2. As provided for in 10 Texas Administrative Code Rules §11.3(e) and § 11.4(c)(1) (2020) of the Qualified Allocation Plan, it is hereby acknowledged that the proposed Project is located in a census tract that has more than 20% Housing Tax Credit Units per total households. SECTION 3. The City affirms that the proposed Project is consistent with the jurisdiction’s obligation to affirmatively further fair housing pursuant to 10 Texas Administrative Code Rules §1 1.3(e) and § 11.4(c)(1) (2020) of the Qualified Allocation Plan. SECTION 4. In accordance with the requirements of Texas Government Code §2306.67071 (2013) and Texas Administrative Code Rule §1 1.204(4) (2020), it is hereby found that 1. Notice has been provided to the City in accordance with Texas Government Code, §2306.67071 (a) (2013); and 2. The City has had sufficient opportunity to obtain a response from the Applicant regarding any questions or concerns about the proposed Application; and 3 . The City has held a hearing at which public comment may be made on the proposed Application in accordance with Texas Government Code, §2306.67071 (b) (2013); and 4. After due consideration of the information provided by the Applicant and public comment, the City does not object to the proposed Application. SECTION 5. The City Manager is hereby authorized, empowered, and directed to certify this Resolution to the TDHC A and to execute any other documents and writings whatsoever that may be necessary or convenient, in the reasonable opinion of either the City Manager or the City Attorney, for carrying out this Resolution. SECTION 6. This Resolution shall be effective as of its date of approval and passage by City Council. The motion to approve this Resolution was made by TeSS e \)Hq iS and seconded by hu t M\t \t'te{- . The Resolution was passed and approved by the following vote U - O]: @ Nay Abstain Absent Mayor Gerard Hudspeth:\/r E £ Vicki Byrd, District 1 : Brian Beck, District 2: Jesse Davis, District 3 :bl ./ / Alison Maguire, District 4: Deb Armintor, At Large Place 5: Paul Meltzer, At Large Place 6: PASSED AND APPROVED thi, th, IStb d,y ,f 2021 . f. b / P C•+ S + / f / / r f : ;//fC T = GERARD HUDSPETH. MAYOR }\III IjI if// ATTEST: ROSA RIOS, CITY SECRETARY /L APPROVED AS TO LEGAL FORM: AARON LEAL, CITY ATTORNEY \(L 7)M/YUn.