HomeMy WebLinkAboutResolution - 2015-R0106 - Mahon Villas Phase I Development - 03/26/2015Resolution No. 2015-RO106
March 26, 2015
Item No. 5.11
RESOLUTION
WHEREAS, Mahon Villas Associates, LP, a to -be -formed Texas limited partnership (the
"Applicant"), which is a joint venture of the North & East Lubbock Community Development
Corporation and Bywater Development Group, has proposed a development for affordable rental
housing to be located at 1913 Baylor Street, Lubbock, TX 79415, named Mahon Villas
Apartments (the "Development") in the City of Lubbock, Texas (the "City"); and
WHEREAS, Applicant has submitted an application to the Texas Department of Housing
and Community Affairs ("TDHCA") for 2015 Competitive 9% Housing Tax Credits and HOME
funds for the Development (the "Application"); and
WHEREAS, the proposed Mahon Villas Phase I will contribute most significantly to the
concerted revitalization efforts set -forth in The Mahon Revitalization Plan; and
WHEREAS, the Development, to be located at 1913 Baylor Street, Lubbock, TX 79415
a proposed development of approximately 94 units for families with 100% of the units at 60% of
the Area Wide Median income, is being considered by the City Council for the support of the
Applicant's tax credit application and the Development to TDHCA for the maximum 14 points
under Section 11.9 (d)(1) of the 2014 Qualified Allocation Plan and in accordance with Texas
Government Code Section 2306.6710(b), stating that the City of Lubbock supports the
application.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
LUBBOCK:
THAT the City strongly supports the application being made by the Applicant to TDHCA
for 2015 Competitive 9% Housing Tax Credits and HOME funds on behalf of the Mahon Villas
Phase I development, and
THAT the City Council acknowledges the proposed Mahon Villas Phase I development
will contribute most significantly to the concerted revitalization efforts set -forth in The Mahon
Revitalization Plan.
Passed by the City Council this 26th day of March 2015.
GLEN,Z.ROB SON
ATTEST:
Rebef a Garza, City Secretary
APPROVED AS TO CONTENT:
Bill Mbn', Assistant Manager
APPROVED AS TO FORM:
RES.MVI_City-Support_Resolution
3.26.15