Res 2020-132/providing no objection to the submission of an application for low income housing tax credits to the Texas Department of Housing and Community Affairs for the proposed Lantana on Bastrop Multifamily Housing Project located at the intersectio

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a. The project will provide a minimum of 22 units (10% of all units) affordable to households at or below 30% AMI for the duration of the tax exemption; b. The project will provide a minimum of 3 units (13 %) that are ADA accessible and affordable to households at or below 30% AMI; C. The project will provide a minimum of 76 (35% of all units) three-bedroom units; and d. The project shall include these criteria in the Texas Department of Housing and Community Affairs Land Use Restriction Agreement. 6. 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 at least five of the eight necessary criteria as follows: a. The project meets the necessary criteria to be considered for a tax exemption; b. The Project will address a housing need by providing 22 units for those making 30% or less of area median income, 18 units for those making 40% or less of the area median income, 50 units for those making 50% or less of the area median income, 71 units for those making 60% or less of the area median income, and 55 units for those making 70% or less of the area median income. The Project will be located in close proximity to San Marcos High School and Bowie Elementary and within close proximity to the Amazon facility. The Project will meet all applicable development standards in the San Marcos Development Code, sidewalks will be required along all public streets, and pedestrian connections will be made within the Project boundaries; C. The Project is located in the East Village Medium Intensity Zone; d. The Project is currently located in the ETJ but is proposed to develop under Character District -5 (CD -5) zoning designation; e. The Project is not located within one quarter mile walking distance of a proposed or existing bus stop on a current or planned transit route and will provide a private shuttle service for residents in accordance with TDHCA restrictions; and L The Project will incorporate wraparound services that provide flexible voluntary social, economic, or education benefits to the residents. Incorporated services will utilize local support services and resources, meet the needs of the local community, and exceed the minimum Texas Department of Housing & Community Affairs requirements for amenities. The Project will incorporate the listed common amenities and resident support services: i. Controlled gate access for entrance and exit areas, furnished fitness center (one item for every 40 units), children's playscape, game area, swimming pool, full perimeter fencing that includes parking areas and all amenities, fully enclosed off leash dog park, resident run community garden, gazebo or covered pavilion with a