HomeMy WebLinkAboutResolution - 2019-R0050 - 9% Housing Tax Credit - Metro Tower - 02/25/2019Resolution No. 2019-ROO50
Item No. 7.17
February 25, 2019
RESOLUTION
WHEREAS, Metro Tower Housing Partners, LP has proposed a development for affordable
rental housing to be named Metro Tower Lofts to be located at 1220 Broadway, 1219
Broadway, 1301 1Oth Street, and 1402 Main Street; and
WHEREAS, Metro Tower Housing Partners, LP intends to submit an application to the Texas
Department of Housing and Community Affairs for 2019 Competitive 9% Housing Tax Credits
for Metro Tower Lofts; and
WHEREAS, staff has identified that the Development is located in Downtown Lubbock
within the Central Business District Tax Increment Financing Reinvestment Zone; and
WHEREAS, City Council finds that the Development contributes more than any other
proposed affordable rental housing development within the Central Business District Tax
Increment Financing Zone to the concerted revitalization efforts of Downtown Lubbock;
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 2019 Competitive 9% Housing
Tax Credits for the proposed development of Metro Tower Lofts at 1220 Broadway, 1219
Broadway, 1301 1 Oth Street, and 1402 Main Street by Metro Tower Housing Partners, LP; and
THAT the City Council of the City of Lubbock hereby directs City staff to provide a one-time
permit fee waiver not to exceed five hundred dollars ($500) to be applied to an application for a
permit by Metro Tower Housing Partners, LP if it is awarded the Texas Department of Housing
and Community Affairs 2019 Competitive 9% Housing Tax Credits for the proposed
development of the Metro Tower Lofts; and
THAT the City Council of the City of Lubbock identifies Metro Tower Lofts as the proposed
development in the 2019 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;
Passed by the City Council on February 25, 2019
DANIEL M. POPE, M, YOR
ATTEST:
Reber a 'arza, City Secreta
APPROVED AS O CONTENT:
Bill H on, Assistant Ci f na
APPROVED AS TO FORM:
KPIC1eisure, Assistant City Attorney
ccdocs/RES Adoption Housing Credits Metro Tower Housing
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