1-9-23 - Laserfiche WebLink

Browse Search

CERTIFICATE OF APPROVAL FOR tSSUANCF OF TAX-EXEMPT MULTIFAMILY HOUSING REVENUE BONDS I, the chief elected executive officer of the City of Pasadena, Texas, elected at -large by the voters of the City of Pasadena, Texas, make this certificate solely to satisfy the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, with respect to the proposed issuance of one or more series of tax-exempt multifamily housing revenue bonds by The Southeast Texas Housing Finance Corporation (the "Corporation ") in an aggregate principal amount of not more than $30,000,000 (the "Bonds"). The Bonds will be issued for the benefit of Pasadena Leased Housing Associates I, Limited Partnership or an affiliate thereof (the "Borrower "), in connection with the acquisition, rehabilitation and equipping of a multifamily housing development known as The Portofino located at 2122 E. Sam Houston Parkway South, Pasadena, Texas 77503 and consisting of approximately 248 units (the "Development"). The Borrower will own the Development. It is anticipated that a wholly -owned affiliate of Southeast Texas Multifamily Resources, Inc., an affiliate of the Corporation, will own the land on which the Development is located and lease such land to the Borrower. Further, it is anticipated that the general partner of the Borrower will be wholly -owned by Southeast Texas Multifamily Resources, Inc. A public hearing was held on behalf of the City of Pasadena, Texas, by Ron Williams, the designated hearing officer, as described in the attached Certificate of Hearing Officer. As the "applicable elected representative" of the City of Pasadena, Texas, I approve the issuance of the Bonds in the amount and for the purpose described above. This approval is not: (1) a warranty by the City of Pasadena, Texas, the Mayor of the City of Pasadena, Texas, or of any agency, political subdivision, or instrumentality of the State of Texas that the Bonds will be paid or that any of the obligations assumed in connection with issuance of the Bonds will in fact be performed; (2) a pledge of the faith and credit of the State of Texas or of any agency, political subdivision, or instrumentality the State of Texas; or (3) a warranty of the validity of the corporate existence of the Corporation or of the Bonds themselves. IN WITNESS WHEREOF, I have officially signed my name in the City of Pasadena, Texas, on the date set forth below. ___ q4�� 0" __ May&; eff Wagner City of Pasadena, Texas Dated: A Ve , 2022 TEFRA Approval Certificate (The Portofino) 4876-5803-0I37 v3.doex 2306579