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e. The Applicant shall ensure that the requirement to make an annual PILOT shall <br />be included as a covenant or obligation of the Applicant (and any successors) in the trust <br />indenture for all bonds issued in connection with the Project and in the Land Use Restriction <br />Agreement for the Project approved by TDHCA. <br />L No building in the project shall consist of more than three stories. <br />PART 4. As provided for in 10 TAC §11.3(d) it is hereby acknowledged that the <br />proposed New Construction or Adaptive Reuse Development is located one linear mile or less from <br />a Development that serves the same type of household as the proposed Development and has received <br />an allocation of Housing Tax Credits (or private activity bonds) for New Construction in the three- <br />year period preceding the date the Certificate of Reservation is issued. <br />PART 5. As provided for in 10 TAC § 11.3(e) and § 11.4(c)(1), it is hereby acknowledged <br />that the proposed New Construction Development is located in a census tract that has more than 20% <br />Housing Tax Credit Units per total households and the proposed Development is consistent with the <br />City's obligation to affirmatively further fair housing and the City has no objection to the Application. <br />PART 6. The Mayor or the City Manager, are each authorized to execute any and all <br />documents as necessary for the Applicant to complete its application for the Project to the TDHCA, <br />and the City Manager is further authorized to negotiate the terms of and to execute an agreement for <br />an annual PILOT consistent with Part 3(d) above. <br />PART 7. For and on behalf of the City Council, the Mayor or the City Clerk are each <br />authorized to certify one or more copies of this resolution for submission to TDHCA. <br />PART 8. This resolution shall be in full force and effect immediately from and after its <br />passage. <br />ADOPTED on September 1, 2020. <br />'J)ne Hughson <br />Mayor <br />Attest: <br />e T" my K ook <br />, am <br />Interim City Clerk <br />