Laserfiche WebLink
RESOLUTION NO. 2024-91R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS,TEXAS PROVIDING NO OBJECTION TO THE SUBMISSION OF <br /> AN APPLICATION FOR LOW INCOME HOUSING TAX CREDITS TO THE <br /> TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS FOR <br /> THE PROPOSED CENTERPOINT DEPOT MULTIFAMILY HOUSING <br /> PROJECT LOCATED AT THE INTERSECTION OF COMMERCIAL LOOP <br /> AND THE FUTURE TRANSPORTATION WAY; APPROVING FINDINGS <br /> RELATED TO THE APPLICATION; IMPOSING CONDITIONS FOR SUCH <br /> NON OBJECTION; AUTHORIZING THE THE EXECUTION OF AN <br /> AGREEMENT FOR THE PAYMENT OF FEES IN LIEU OF PROPERTY <br /> TAXES; AND DECLARING AN EFFECTIVE DATE. <br /> RECITALS: <br /> 1. Centerpoint Commons, LLC. (the "Applicant") has proposed a multifamily <br /> development presently known as"Centerpoint Depot"for affordable rental housing generally located <br /> at the intersection of Commercial Loop and the future Transportation Way in the City of San Marcos <br /> which will include 363 units (the "Project"). <br /> 2. The Applicant has communicated that it intends to submit an application to the Texas <br /> Department of Housing and Community Affairs ("TDHCA") for Low Income Housing Tax Credits <br /> for the Project (TDHCA application number 24400). <br /> 3. As provided for in §11.3(c) of the Qualified Allocation Plan, the City of San Marcos <br /> has more than twice the state average of units per capita supported by Housing Tax Credits or Private <br /> Activity Bonds. <br /> 4. In accordance with the requirements of Texas Government Code §2306.67071 and <br /> Texas Administrative Code §11.204(4): <br /> a. notice has been provided to the City of San Marcos, Texas; <br /> b. the City of San Marcos, Texas has had sufficient opportunity to obtain a <br /> response from the Applicant regarding any questions or concerns about the Project; and <br /> C. the City of San Marcos, Texas has held a hearing at which public comment <br /> may be made on the Project. <br /> 5. The Applicant has demonstrated that the Project meets the necessary criteria in order <br /> to be considered for an exemption from local taxes as follows: <br />