Res 2018-238/supporting the submission of an application for Low Income Housing Tax Credits to the Texas Department of Housing and Community Affairs for the proposed Villas Del San Xavier Senior Community located at 2621 South Interstate Highway 35

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RESOLUTION NO.2018-238 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS,TEXAS SUPPORTING THE SUBMISSION OF AN APPLICATION FOR LOW INCOME HOUSING TAX CREDITS TO THE TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR THE PROPOSED VILLAS DEL SAN XAVIER SENIOR COMMUNITY LOCATED AT 2621 SOUTH INTERSTATE HIGHWAY 35; APPROVING FINDINGS RELATED TO SUCH APPLICATION; IMPOSING CONDITIONS FOR SUCH SUPPORT; PROVIDING AUTHORIZATIONS FOR EXECUTION OR SUBMISSION OF DOCUMENTS RELATED TO THE SUCH APPLICATION; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. San Germaine, LLC ("Applicant") has proposed a senior community development presently known as the"Villas Del San Xavier"for affordable rental housing at 2621 South Interstate Highway 35 located in the City of San Marcos which will include approximately 156 affordable units (the`Project"). 2. The Applicant has communicated that it intends to submit an application to the Texas Department of Housing and Community Affairs ("TDHCA") for Low Income Housing Tax Credits for the Project. 3. As provided for in §11.3(c) of the Qualified Allocation Plan, the City of San Marcos has more than twice the state average of units per capita supported by Housing Tax Credits or Private Activity Bonds. 4. In accordance with the requirements of Texas Government Code §2306.67071 and Texas Administrative Code §10.204(4): a. notice has been provided to the City of San Marcos, Texas; b. the City of San Marcos, Texas has had sufficient opportunity to obtain a response from the Applicant regarding any questions or concerns about the Project; and c. the City of San Marcos, Texas has held a hearing at which public comment may be made on the Project. 5. The Applicant has demonstrated that the Project complies with the City of San Marcos Affordable Housing Policy pertaining to consideration of Low Income Housing Tax Credit projects by meeting necessary criteria as follows: a. No exemptions from local taxes shall be given: b. The Project will address a housing need by creating a diverse housing stock. The Project will include a minimum of 5% of all units to be set aside for the hearing and/or visually impaired.