HomeMy WebLinkAboutPR 20847: SUBMISSION OF FEDERAL HOME LOAN APPLICATION P.R. No. 20847
05/13/19 gt
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE SUBMISSION OF FEDERAL
HOME LOAN APPLICATION FOR THE PORT ARTHUR HOUSING
AUTHORITY APPLICATION FEDERAL HOME LOAN BANK BOARD
(FHLBB)
WHEREAS, the Housing Authority of The City Of Port Arthur (the "Authority"), was
created for the purpose, among others, of developing and operating low-income housing;
and
WHEREAS, the Port Arthur market area has a substantial shortage of affordable
housing units and Port Arthur Housing Authority intends to address this shortage by
increasing density with the use of Federal Home Loan Application; and
WHEREAS, the City of Port Arthur Texas and the Port Arthur Housing Authority
recognizes there are upcoming application deadlines for funding, including but not limited
to Federal Home Loan Application cycle; and
WHEREAS, the Authority wishes to redevelop a project consisting of a 140-unit
multi-family housing development operated by the Authority, known as Villa Main
Apartments, together with functionally related and subordinate facilities and property,
located in the City of Port Arthur in the State of Texas, originally constructed as housing
for low-income persons (the "Project"); and
WHEREAS, City of Port Arthur supports the submission of an application to request
the Federal Home Loan funding to help with the Authority's mission to reduce the shortage
of affordable housing units and community revitalization of the Villa Main Apartments in
the City of Port Arthur.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That the City Council of the City of Port Arthur Texas authorizes the
submission of an application to secure Federal Home Loan funding for Villa Main
Apartments
Section 3. That a copy of the caption of this Resolution shall be spread upon
the Minutes of the City Council.
READ, ADOPTED, AND APPROVED this day of May, 2019 at a
Regular Meeting of the City Council of the City of Port Arthur, Texas, by the vote: AYES:
Mayor:
Councilmembers: ,
NOES:
Derrick Freeman, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED AS TO FORM:
Val Tizeno, City Attorney
APPROVED FOR ADMINISTRATION:
Rebecca Underhill, Interim City Manager
THE MAYOR AND CITY COUNCIL
THE CITY OF PORT ARTHUR TEXAS
May XX,2019
RESOLUTION NO. _
APPROVAL OF SUBMISSION OF FEDERAL HOME LOAN APPLICATION FOR
THE PORT ARTHUR HOUSING AUTHORITY
APPLICATION FEDERAL HOME LOAN BANK BOARD (FHLBB)
WHEREAS, THE HOUSING AUTHORITY OF THE CITY OF PORT ARTHUR (the
"Authority"), was created for the purpose, among others, of developing and operating low-income
housing;
WHEREAS, the Port Arthur market area has a substantial shortage of affordable housing units and
Port Arthur Housing Authority intends to address this shortage by increasing density with the use of
Federal Home Loan Application; and
WHEREAS, The City of Port Arthur Texas and the Port Arthur Housing Authority recognizes
there are upcoming application deadlines for funding, including but not limited to Federal Home
Loan Application cycle.
WHEREAS, the Authority wishes to redevelop a project consisting of a 140 unit multi-family
housing development operated by the Authority, known as Villa Main Apartments, together with
functionally related and subordinate facilities and property, located in the City of Port Arthur in the
State of Texas, originally constructed as housing for low-income persons (the "Project");
WHEREAS, City of Port Arthur supports the submission of an application to request the Federal
Home Loan funding to help with the Authority's mission to reduce the shortage of affordable
housing units and community revitalization of the Villa Main Apartments in the City of Port Arthur.
NOW THEREFORE, BE IT RESOLVED by The Mayor and City Council of the City of Port
Arthur Texas approves the submission of an application to secure Federal Home Loan funding for
Villa Main Apartments
EXECUTED THIS XX DAY OF May 2019.
Mayor
ATTEST:
SECRETARY