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RESOLUTION NO. 2013-17R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS SUPPORTING A PROPOSED 228 <br />UNIT MULTIFAMILY DEVELOPMENT FOR AFFORDABLE <br />RENTAL HOUSING AT 2913 HUNTER ROAD, NAMED <br />SIENNA POINTE; AND DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. Sienna Pointe Ltd. has proposed a 228 unit multifamily development for affordable <br />rental housing at 2913 Hunter Road, named Sienna Pointe in the City of San Marcos; and <br />2. The site has the required multifamily zoning and this $20 million private investment <br />will serve to provide necessary economic development to the area; and <br />3. Sienna Pointe Ltd. intends to submit an application to the Texas Department of <br />Housing and Community Affairs (TDHCA) for 2012 Housing Tax Credits and HOME funds for <br />Sienna Pointe; and <br />4. Pursuant to §50.8(2)(A), Texas Administrative Code, we acknowledge that the City <br />of San Marcos has received more than twice the state average of units per capita supported by <br />Housing Tax Credits and /or Private Activity Bonds; <br />5. The communities supported by these affordable funding allocations are at high <br />occupancy levels and the demand for workforce housing continue to grow; <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The City Council hereby adopts the foregoing recitals and supports the <br />application for funding by the proposed Sienna Point Apartments to develop a quality residential <br />community for the City of San Marcos consistent with the goals, policies and processes set out in <br />the recitals. <br />PART 2. This Resolution shall become effective immediately from and after its <br />passage. <br />ADOPTED on January 13, 2013. <br />