HomeMy WebLinkAboutR2004-021S:\Our Documents'dlesolutions~04~Housing Tax Credit Resolution. DOC
RESOLUrION NO. /
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS,
SUPPORTING THE SUBMISSION OF AN AFFORDABLE HOUSING TAX CREDIT
APPLICATION BY THE CITY OF DENTON HOUSING AUTHORITY TO THE
TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR THE
REDEVELOPMENT OF THE PHOENIX APARTMENTS SITE LOCATED AT 308
SOUTH RUDDELL STREET; AUTHORIZING THE MAYOR TO WRITE A LETTER
OF SUPPORT FOR THE DEVELOPMENT AND ALLOCATION OF TAX CREDITS;
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Denton, Texas, is concerned with the development of viable
urban communities, including decent housing and a suitable living environment; and
WHEREAS, the City of Denton, Texas, has a special concern for persons of low and
moderate income; and
WHEREAS, the Denton Housing Authority wants to make application to the Texas
Department of Housing and Community Affairs for tax credits for a proposed development
named Renaissance Courts to help house low and moderate income citizens of Denton; and
WHEREAS, the City of Denton is aware that the city has more than twice the
state average of units per capita supported by housing tax credits or private activity
bonds; and
WHEREAS, the Denton Housing Authority by Rule §50.5(a)(7)(A)(B) of the
Texas Administrative Code, Title 10, Part 1, Chapter 50 must get prior approval and
support of the governing authority to make such application when the city has more than
twice the state average of units per capita supported by housing tax credits or private
activity bonds; and
WHEREAS, the City Council of the City of Denton supports the proposed
Renaissance Courts Development by the Denton Housing Authority; and
WHEREAS, the City Council finds that it is in the public interest to support the
application of the Denton Housing Authority; NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY RESOLVES:
SECTION 1. That the City Council of the City of Denton hereby approves the
application of the Denton Housing Authority to allocate housing tax credits to the
Renaissance Courts development.
SECTION 2. That the Mayor is authorized to provide a letter of support to be
included in the application of the Denton Housing Authority in compliance with Texas
Administrative Code, Title 10, Part 1, Chapter 50, Rule § 50.5(a)(7)(B).
S:\Our DocumentskResolutions~04'd-lousing Tax Credit Resolution. DOC
SECTION 3. That this resolution shall become effective immediately upon its
passage and approval.
PASSED AND APPROVED this the ~ day of .2004.
EULINEBROCK, MAYOR
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
APPROVED AS TO LEGAL FORM:
HERBERT L. PROUTY, CITY ATTORNEY