HomeMy WebLinkAbout24-050RESOLUTION NO. 24-050
A RESOLUTION OF THE CITY OF DENTON SUPPORTING CAIRN POINT CARROLL,
LP’S 9% HOUSING TAX CREDIT APPLICATION TO TEXAS DEPARTMENT OF
HOUSING AND COMMUNiTY AFFAIRS FOR PROPOSED NEW CONSTRUCTION OF
THE CAIRN POINT CARROLL APARTMENTS TO PROVIDE AFFORDABLE RENTAL
HOUSING; COMMITTING TO PROVIDE FEE REDUCTIONS IN AN AMOUNT OF $500.00;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Cairn Point Carroll, LP ("Applicant") is proposing the new construction of a
multi-family affordable rental housing development to be located at approximately 2229 N Carroll
Blvd, Denton TX 76201 to be named Cairn Point Carroll (the "Project"); and
WHEREAS, the Applicant has advised the City that it intends to submit an application to
the Texas Department of Housing and Community Affairs ("TDHCA") for Housing Tax Credit
funding to provide equity financing for the Project (the “Application”); and
WHEREAS, pursuant to 10 Texas Administrative Code Rule §11.9(d)(1), TDHCA will
provide points to an application for a municipality’s resolution of support for a development which
will be located in such municipality’s jurisdiction; and
WHEREAS, pursuant to 10 Texas Administrative Code Rule §11.9(d)(2) the City will
provide a letter in the form attached hereto as Exhibit A (the " Fee Reduction Letter"), committing
to provide a development fee reduction in an amount not to exceed $500.00 in connection with the
development of the Project as the City’ s financial contribution; and
WHEREAS, the City Council of the City of Denton wishes to express support for this
proposed Project’s application to TDHCA pursuant to 10 TAC §11.3(e) and §11.4(c)(1) of the
Qualified Allocation Plan 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. it is hereby acknowledged that the proposed Project is located in a
municipality that has more than twice the state average of units per capita supported by Housing
Tax Credits. Pursuant to Tex. Gov’t Code § 2306.6703(a)(4) and 10 Texas Administrative Code
§11.3(c), the City Council hereby affirms its support for the proposed Project’s application to
TDHCA and the allocation of Housing Tax Credits for the Project.
SECTION 3. In accordance with the requirements of Texas Government Code
§2306.67071 and Texas Administrative Code §1 1.204(4), it is hereby found that:
1. Notice has been provided to the City in accordance with Texas Government Code,
§2306.6707 1 (a); 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); and
4. After due consideration of the information provided by the Applicant and public
comment, the City does support the proposed Application.
SECTION 4. The City affirms its commitment to provide Applicant with fee reductions in
a total amount not to exceed $500.00 in connection with the development of the Project
conditioned on: (i) the Applicant securing the 9% housing tax credit from the TDHCA, and (ii)
Applicant securing development plan approvals for the Project, including any required zoning
approvals, from the City.
SECTION 5. The City Manager is hereby authorized, empowered, and directed to certify
this Resolution to the TDHCA.
SECTION 6. The City Council hereby approves and authorizes the execution on behalf of
the City of all 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 7. This Resolution shall be effective as of its date of approval and passage by
City Council.
Ive this Resolution was made by
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The motion to
seconded by FI, ,1 ML
by the following vote D_ - U :
and
the Resolution was passed and approved
Aye Nay Abstain Absent
Mayor Gerard Hudspeth:/
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Vicki Byrd, District 1 :
Brian Beck, District 2:
Paul Meltzer. District 3 :
Joe Holland, District 4:
Brandon Chase McGee, At Large Place 5 :
Chris Watts, At Large Place 6:
PASSED AND APPROVED this the & t h day of F;tHy+/y , 2024.
mas MAYOR
ATTEST:
JESUS SALAZAR, CITY SECRETARY
L \ \ \ \ U 11 1 t // /
APPROVED AS TO LEGAL FORM:
MACK RErNWAND. CITY ATTORNEY
Scott Bray
2024.01.30 15:12:32
-06'OO’
Exhibit A
City Manager’s Office
215 E. McKinney St., Denton, TX 76201 • (940) 349-8307DENmo
February 6, 2023
Cairn Point Carroll
Cairn Point Carroil, L.P.
2229 Carroll Blvd
Denton TX 76201
RE: Commitment of Development Funding by Local Political Subdivision for Cairn Point Carroll,
L.P, for the proposed new construction of the Cairn Point Carroll Apartments located
approximately at the 2229 Carroll Blvd, Denton, TX 76201, in Denton, City of Denton, Denton
County, Texas
Dear Cairn Point Carroll, L.P.,
The City affirms its commitment to Cairn Point Carroll, L.P. (the Applicant) for the Cairn Point
Carrol! Apartments development (the “Project“) to provide fee reductions in a de minimis total
amount of $500.00 in connection with the development of the Project.
It is the intention of this letter to firmly commit this benefit to the Project in order to satisfy a
requirement of Section 11.9(d)(2) of the Qualified Allocation Plan as published by the Texas
Department of Housing and Community Affairs in order to gain points under that rule for this
commitment of funds.
This is conditioned on: (i) the Applicant securing the 9% housing tax credit from the TDHCA, and
(ii) Applicant securing development plan approvals for the Project, including any required zoning
approvals, from the City.
Sincerely,
Sara Hensley
City Manager
City of Denton, Texas
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