Res 2021-086/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 Legacy Square Senior (55+)

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5. The Applicant has demonstrated that the Project meets the necessary criteria in order to be considered for an exemption from local taxes as follows: a. The project will provide a minimum of 21 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 2 units (10% of all units) that are ADA accessible and affordable to households at or below 30% AMI; C. The project shall include these criteria in the Texas Department of Housing and Community Affairs Land Use Restriction Agreement; d. The project shall partner with the Capital Area Housing Finance Corporation (CAHFC) which addresses housing needs in Central Texas. 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 210 units for those making at or below 60% of the area median income. The project will provide 21 units for those making 30% or less of area median income and 189 units for those making 60% 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 Christus Santa Rosa Hospital. 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 currently located in the ETJ but is proposed to develop under a non -Legacy zoning district; d. 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 which will meet and exceed TDHCA restrictions by providing shuttle service to the San Marcos Public Library, local grocery store, San Marcos Activity Center, other senior citizen programming destinations, and other stops as needed by the residents; and e. 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