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File #: Res. 2020-27R    Version: 1 Name:
Type: Resolution Status: Individual Consideration
File created: 1/15/2020 In control: City Council
On agenda: 2/4/2020 Final action:
Title: Consider approval of Resolution 2020-27R, 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 Redwood Multifamily Housing Project located in the 1600 block of Redwood Road; approving findings related to the application; imposing conditions for such non-objection, including the requirement that the applicant make an annual payment in lieu of taxes in the initial amount of $75,000 and increasing by $1,500 annually; providing authorizations for execution or submission of documents related to the application and for execution of an agreement for the annual payment in lieu of taxes; and declaring an effective date.
Attachments: 1. LIHTC-19-02 Resolution, 2. LIHTC-19-02 Project Summary, 3. LIHTC-19-02 Aerial View, 4. LIHTC-19-02 Zoning Map, 5. LIHTC-19-02_PreferredScenario, 6. LIHTC-19-02 Existing Sidewalks, 7. LIHTC-19-02 Distance to Services, 8. LIHTC-19-02 CART Route and Stops, 9. LIHTC-19-02 TDHCA Project Amenities, 10. LIIHTC-19-02 - Application, 11. LIHTC-19-02 Hays Caldwell Women's Center MOU, 12. LIHTC-19-02 Splash Financial Literacy & Tutoring Proposal, 13. LIHTC-19-02 PILOT Proposal, 14. LIHTC-19-02 Memo-Response to 40% and 50% AMI Unit Request, 15. LIHTC-19-02 Staff Memo- Review of 40% and 50% AMI Unit Mix
AGENDA CAPTION:
Title
Consider approval of Resolution 2020-27R, 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 Redwood Multifamily Housing Project located in the 1600 block of Redwood Road; approving findings related to the application; imposing conditions for such non-objection, including the requirement that the applicant make an annual payment in lieu of taxes in the initial amount of $75,000 and increasing by $1,500 annually; providing authorizations for execution or submission of documents related to the application and for execution of an agreement for the annual payment in lieu of taxes; and declaring an effective date.
Body
Meeting date: February 4, 2020

Department: Planning and Development Services

Amount & Source of Funding
Funds Required: N/A
Account Number: N/A
Funds Available: N/A
Account Name: N/A

Fiscal Note:
Prior Council Action: Postponed at the November 19, 2019 Regular Meeting to allow the Council committee to meet and discuss this project further

City Council Strategic Initiative: [Please select from the dropdown menu below]
Workforce Housing
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Land Use - High Density Mixed Use Dev. & Infrastructure in the Activity Nodes & Intesity Zones (supporting walkability and integrated transit corridors)
? Neighborhoods & Housing - Diversified housing options to serve citizens with varying needs and interests
? Parks, Public Spaces & Facilities - Choose an item.
? Transportation - Choose an item.
? Not Applicable

Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Vision San Marcos - A River Runs Through Us

Background Information:
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