Res 2024-044 LIHTC-23-01 Roers Multifaily providing no objection to the submission of an application for Low Income Housing Tax Credits located at intersection between Old Bastrop and State Highway 123

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A BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The San Marcos City Council finds the Recitals to be true and correct and adopts them as the findings of the City Council and incorporates them as part of this resolution. PART 2. After due considex�rdingswfzhL City Council as stated in the Recitals, the information provided by they Applicant and any public comment, the City of San arcos, Texas has no objection to the proposed application for the Project to the TDHCA, and confirms that the City Council has voted specifically to supportthe submittal of applications for the Project/and to authorize an allocation of Housing Tax Credits for e Project pursuant to Texas Government Code §2306.6703(a)(4). PART 3. As conditions of approval of this resolution: a. The Applicant must comply with all City of San Marcos rules and regulations governing the development of the Project including, but not limited to: i. the adopted Transportation Master Plan; ii. all standards and regulations within the City's Code of Ordinances; and W. requirements for submission of required applications and payment of applicable fees. b. The Applicant may not apply for and the Project will not be eligible to receive any variances from any applicable City of San Marcos ordinances, rules or regulations. C. The Applicant must submit an executed Memorandum of Understanding for each local residential support service provider prior to the approval of future permits and the Memorandum of Understandings shall include language that directs advertising for the Project to San Marcos residents. d. Transportation services shall be provided no less than ten (10) hours per day and no less than three (3) days per week e. The applicant shall provide a bus stop for future City bus services at the time of site development. PART 4. To the extent applicable, the City Council hereby approves the application of the Texas Housing Finance Corporations Act, Chapter 394, Local Government Code (the "Act"), to the property on which the development will be constructed and grants its approval for the use of proceeds of bonds issued by a housing finance corporation pursuant to the Act to finance construction of the development.