R-2020-04 CoLP Support for Cypress Creek Apartment Homes

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RESOLUTION NO. 2020-04 A RESOLUTION OF THE CITY COUNCIL OF LA PORTE,TEXAS,REGARDING SUPPORT FOR CYPRESS CREEK APARTMENT HOMES AT SPENCER LANDING (TDHCA#20318). WHEREAS, Cypress Creek Spencer Landing, LP (the Applicant) has proposed a development for an apartment home community to be located at approximately the northeast quadrant of Spencer Highway and Airport Boulevard, La Porte, Harris County, Texas; to be named Cypress Creek Apartment Homes at Spencer Landing (the Development); and WHEREAS,the Applicant has advised that it intends to submit an application to the Texas Department of Housing and Community Affairs (TDHCA) in the 2020 competitive 9% application round for Housing Tax Credits and TDHCA HOME Funds for the Development; NOW,THEREFORE,IT IS HEREBY RESOLVED,that the City of La Porte,Texas,acting through its governing body, hereby confirms that it supports the aforementioned proposed Development, and the related application to the TDHCA(#20318); and FURTHER RESOLVED, that the City intends to issue a commitment and letter confirming that the City will provide reduced fees for the benefit of the Development so that the Applicant may receive one (1) point for a contribution from the City in an amount of$500.00 or more; and FURTHER RESOLVED,that the City of La Porte hereby supports the proposed Development, and confirms that its governing body has voted specifically to approve the construction of the Development and to authorize an allocation of Housing Tax Credits for the Development pursuant to Texas Government Code §2306.6703(a)(4); and FURTHER RESOLVED that for and on behalf of the City of La Porte,Mayor Louis Rigby,are hereby authorized, empowered, and directed to certify this resolution to the TDHCA. This formal action has been taken to put on record the opinion expressed by the City of La Porte on February 24,2020. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS,as follows: Section 1.The facts and opinions in the preamble of this resolution are true and correct. Section 2.The City of La Porte,Harris County,has voted specifically to support the Development and to authorize, if awarded by the Texas Department of Housing and Community Affairs, an allocation of Housing Tax Credits and authorized Applicant to apply on behalf of the City for HOME funds for the Development. Section 3.This resolution,related to potential financing,is not a statement of approval for site or building permits, zoning,or PUD; as such decision shall be made in due course with a future request. Section 4.All resolutions and agreements or portions of resolution s and agreements in conflict herewith are hereby release d to the extent of the conflict only. PASSED AND APPROVED by the City Council of the City of La Porte,Texas,on February 24,2020. CITY OF E,TEXAS Ay rt r, LW.Rigby, g r ATTEST: APPROVED AS TO FORM: . A\ / �'oodwar , ity S a Clark .Askins,City Attorney