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e. The applicant shall ensure that the requirement to make an annual PILOT shall be <br />included as a covenant or obligation of the Applicant (and any successors) in the <br />trust indenture for all bonds issued in connection with the Project and in the Land <br />Use Restriction Agreement for the Project approved by TDHCA. <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 S. 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 household 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. To the extent applicable, the City Council hereby approves the application of <br />the Texas Housing Finance Corporations Act, Chapter 394, Local Government Code (the "Act"), to <br />the property on which the development will be constructed and grants its approval for the use of <br />proceeds of bonds issued by a housing finance corporation pursuant to the Act to finance construction <br />of the development. <br />Part 7. 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 to execute the Payment Agreement for the PILOT as referenced in Part 3(d) above. <br />PART 8. 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 9. This resolution amends and supercedes Resolution No. 2020-164R <br />PART 10. This resolution shall be in full force and effect immediately from and after its <br />passage. <br />ADOPTED on March 2, 2021. <br />ane Hughson <br />Mayor <br />Atte <br />T*my K. ook <br />I terim'Cl'toy Clerk <br />