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RESOLUTION NO. 2019-168R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS PROVIDING NO OBJECTION TO THE SUBMISSION OF <br />AN APPLICATION FOR LOW INCOME HOUSING TAX CREDITS TO THE <br />TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR <br />THE PROPOSED THE RESERVES AT SAN MARCOS MULTIFAMILY <br />HOUSING PROJECT LOCATED AT THE NORTHWEST CORNER OF <br />RATTLER ROAD AND HIGHWAY 123; APPROVING FINDINGS RELATED <br />TO THE APPLICATION; IMPOSING CONDITIONS FOR SUCH NON <br />OBJECTION; PROVIDING AUTHORIZATIONS FOR EXECUTION OR <br />SUBMISSION OF DOCUMENTS RELATED TO THE APPLICATION; AND <br />DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. BETCO Consulting (the "Applicant") has proposed a multifamily development <br />presently known as "The Reserves at San Marcos" for affordable rental housing at the Northwest <br />corner of Rattler Road and Highway 123, in the City of San Marcos which will include 376 units (the <br />"Project"). <br />2. The Applicant has communicated that it intends to submit an application to the Texas <br />Department of Housing and Community Affairs ("TDHCA") for Low Income Housing Tax Credits <br />for the Project. <br />3. As provided for in §I 1.3(c) of the Qualified Allocation Plan, the City of San Marcos <br />has more than twice the state average of units per capita supported by Housing Tax Credits or Private <br />Activity Bonds. <br />4. In accordance with the requirements of Texas Government Code §2306.67071 and <br />Texas Administrative Code § 11.204(4): <br />a. notice has been provided to the City of San Marcos, Texas; <br />b. the City of San Marcos, Texas has had sufficient opportunity to obtain a <br />response from the Applicant regarding any questions or concerns about the Project; and <br />C. the City of San Marcos, Texas has held a hearing at which public comment may be <br />made on the Project. <br />5. The Applicant has demonstrated that the Project complies with the City of San Marcos <br />Affordable Housing Policy pertaining to consideration of Low Income Housing Tax Credit projects <br />by meeting at least six of the nine necessary criteria as follows: <br />a. No exemptions from local taxes shall be given; <br />b. The Project will address a housing need by providing 56 market rate units and <br />320 units for those making 60% of area median income that will be located in close proximity <br />