HomeMy WebLinkAboutPR 17725: SUBMISSION OF APPLICATION BY PORT ARTHUR INITIATIVE I, L.P. FOR HOUSING TAX CREDITS (3501 12TH STREET) (EDISON SQUARE) P. R. NO. 17725
06/21/13 gt
RESOLUTION NO.
A RESOLUTION SUPPORTING THE SUBMISSION OF AN
APPLICATION BY PORT ARTHUR INITIATIVE I, L.P. FOR HOUSING
TAX CREDITS OR PRIVATE ACTIVITY BONDS AT 3501 12 STREET
(EDISON SQUARE), AUTHORIZING AN ALLOCATION OF HOUSING
TAX CREDITS FOR THE APPROVAL OF THE CONSTRUCTION OF
THE DEVELOPMENT (REQUESTED BY COUNCILMEMBER
ALBRIGHT)
WHEREAS, Port Arthur Housing Initiative II, LP, has proposed a development for
affordable rental housing at 3501 12 Street named Edison Square (the "Development ") in the
City of Port Arthur, Texas; and
WHEREAS, Port Arthur Housing Initiative II, LP, intends to submit an application to
the Texas Department of Housing and Community Affairs (TDHCA) for 2013 Housing Tax
Credits or Private Activity Bonds for the Edison Square; and
WHEREAS, pursuant to § 11.3(b), Texas Administrative Code, we acknowledge that the
City of Port Arthur has more than twice the state average of units per capita supported by
Housing Tax Credits or Private Activity Bonds.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PORT ARTHUR:
Section 1. That the City of Port Arthur hereby supports the proposed Development,
and the City Council has voted specifically to approve the construction of the Development and
to authorize an allocation of Housing Tax Credits for the Development pursuant to
§2306.6703(A)(4).
Section 2. 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 , 2013 AD,
at a Regular Meeting of the City Council of the City of Port Arthur, Texas by the following vote:
AYES:
Mayor:
Councilmembers:
•
•
NOES:
Mayor
ATTEST:
City Secretary
APPROVED AS TO FORM:
(See Confidential Memo)
City Attorney
APPROVED FOR ADMINISTRATION:
City Manager