HomeMy WebLinkAboutResolution - 2021-R0073 - 9 Percent Housing Tax Credits, Inn Town LoftsResolution No. 2021-R0073
Item No. 7.15
February 23, 2021
RESOLUTION
WHEREAS, HTG Lubbock, LLC has proposed a development for affordable rental housing to
be named Inn Town Lofts to be located at 1202 Main Street; and
WHEREAS, HTG Lubbock, LLC intends to submit an application to the Texas Department of
Housing and Community Affairs for 2021 Competitive 9% Housing Tax Credits for Inn Town
Lofts; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the City Council of the City of Lubbock hereby confirms that it supports the application
for the Texas Department of Housing and Community Affairs 2021 Competitive 9% Housing
Tax Credits for the proposed development of Inn Town Lofts at 1202 Main Street by HTG
Lubbock, LLC; and
THAT the City Council of the City of Lubbock hereby directs City staff to provide a one-time
permit fee waiver in the amount of five hundred dollars ($500) to be applied to an application
for a permit by HTG Lubbock, LLC if it is awarded the Texas Department of Housing and
Community Affairs 2021 Competitive 9% Housing Tax Credits for the proposed development
of the Inn Town Lofts; and
THAT as provided for in 10 TAC §I 1.3(e) and §I 1.4(c)(1), it is hereby acknowledged that the
proposed New Construction and Adaptive Reuse Development is located in a census tract that
has more than 20% Housing Tax Credit Units per total households; and
THAT the City of Lubbock hereby confirms that its Governing Body has no objection to the
Application, pursuant to 10 TAC §11.3(e) and §I1.4(c)(1) of the Qualified Allocation Plan;
and
THAT the City Council of the City of Lubbock identifies Inn Town Lofts as the proposed
development in the 2021 Competitive 9% Housing Tax Credits round that contributes more
than any other to the concerted revitalization efforts of the City in the Central Business District
Tax Increment Financing Reinvestment Zone; and
THAT the governing body affirms that the proposed Development is consistent with the
jurisdiction's obligation to affirmatively further fair housing.
Passed by the City Council on February 23, 2021
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ATTEST:
Rebec Garza, City Secre
APPROVED AS TO CONTENT:
Bill erton, DeputyRrt anager
APPROVED AS TO FORM:
r
elli Leisure, Assistant City Attorney
ccdocs/RES. Adoption — Housing Credits — Inn Town Lofts
02.08.21