HomeMy WebLinkAboutPR 24426: TO AUTHORIZE TXPHV, LP, TO EXERCISE POWERS GRANTED TO HOUSING FINANCE CORP, UNDER TEXAS LOCAL GOVERNMENT CODE CHAPTER 394, AS AMENDED BY THE 89TH TEXAS LEGISLATURE P.R. NO. 24426
07/07/2025 RPC
RESOLUTION NO.
A RESOLUTION OF THE CITY OF PORT ARTHUR, TEXAS To AUTHORIZE
TXPHV, LP, To EXERCISE POWERS GRANTED TO HOUSING FINANCE
CORPORATIONS UNDER TEXAS LOCAL GOVERNMENT CODE CHAPTER 394,
As AMENDED BY THE 89TH TEXAS LEGISLATURE
WHEREAS, the City of Port Arthur, Texas, a home-rule municipality, recognizes the role of the
private sector in serving the public need for affordable housing for its most economically
disadvantaged residents; and
WHEREAS,the City finds that prior to November 30,2022,the multi-family property known as the
Summit at Prince Hall Apartment, which is located at 934 W. 14th Street, Port Arthur, Texas,
("Property")was a Project-Based Section 8 multi-family residential property in a state of despair,not
meeting reasonable standards of decent, safe, and affordable housing; and
WHEREAS,in this condition under prior ownership,and due to federally imposed rent restrictions,the
Property did not contribute significantly to the City tax rolls; and
WHEREAS, the Property required disproportionate services and associated costs from City fire,
police, and EMS services, as compared to other multi-family properties in the area; and
WHEREAS, upon acquisition by TXPHV, LP, some amounts have been invested into the
rehabilitation and improvement of property; and
WHEREAS, the City finds that upon acquisition by TXPHV, LP, a property tax exemption under
Texas Local Government Code Chapter 394 has been in place and enabled rehabilitation of the
Property that has improved living conditions for both neighbors and residents; and
WHEREAS,the City finds that such rehabilitation was only feasible for the private developer due to
the tax abatement provided by Chapter 394 of the Texas Local Government Code, in partnership
with a non-City sponsored Housing Finance Corporation (HFC) identified as Cameron County
Housing Finance Corporation; and
WHEREAS,the City finds that in addition to such rehabilitation,the Property's provision of 100%of
its 120 unit rents maintained at or below 50%of the area median income significantly exceeds both
the minimum rent reduction requirements of the Texas Local Government Code Chapter 394, as
amended by the 89th Texas Legislature; and
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WHEREAS,such rehabilitation and rent reduction on the Property are in the best interests of the City
and its residents; and
WHEREAS, the City finds that the public benefit of the improvements to the Property is equal to or
greater than the value of the tax exemption; and
Now THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR,TEXAS:
SECTION 1. That the facts and recitals above are true and correct and are hereby incorporated.
SECTION 2. That the City ratifies and consents to the TXPHV, LP to exercise powers granted to
the Cameron County Housing Finance Corporation under Texas Local Government
Code Chapter 394, as amended by the 89th Texas Legislature, for the purpose of
providing a multi-family property of 120 dwelling units with decent, safe and
sanitary conditions at rates affordable to residents earning 50%or less than the area
median income.
SECTION 3. This Resolution shall take effect immediately from and after the date of passage and
is so resolved.
SECTION 4. That a copy of the caption of this Resolution shall be spread upon the Minutes of the
City Council.
READ,ADOPTED AND APPROVED,this 15th day of July,2025 AD, at a Regular Meeting of the City
Council of the City of Port Arthur, Texas by the following vote: AYES:
Mayor: •
Councilmembers: •
•
•
NOES:
•
Charlotte M. Moses, Mayor
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ATTEST:
Sherri Bellard, City Secretary
APPROVED
Roxann Pais Cotroneo, JD, City Attorney
APPROVED FOB P MINISTRATION:
Ronald Burton, C' , Cl Manager
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