HomeMy WebLinkAbout5-27-2004-13.05 - Resolution - 05/27/2004RESOLUTION NO. 5-27-2004-13.05
A RESOLUTION OF THE CITY OF COLLEGE STATION, TEXAS, APPROVING A
CONTRACT FOR THE GRANT OF HOME FUNDS TO THE COLLEGE STATION
TERRACE PINES APARTMENT HOMES, L.P.
WHEREAS, the City of College Slation received a request from College Station Terrace Pines
Apartment Homes, L.P for financial support of an affordable elderly rental housing
development. "Terrace Pines Apartment Homes", and
WHEREAS, College Station Terrace Pines Apartment Homes, L.P. has submitted an apphcat~on
to the Texas Department of Housing and Community Affairs in order to receive a tax credit
allocation for the year 2004; and
WHEREAS, The City Council previously unanimously approved a resolution of support (# 2-12-
2004-13.05) for this development and authorized the Mayor to sign a letter of support on
February 12, 2004, and
WHEREAS, the construction of affordable rental housing is in accordance with the City of
College Station Consolidated Plan which demonstrates a need for this type development, now,
therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS
PART l' That the City Council hereby approves the contract with Terrace Pines Apartment
Homes, L P for $521,612 contingent on the approval of the FY04-05 budgel.
PART 2
That funding for this contract in the amount of $305,612 shall be budgeted from the
Community Development FY03-04 HOME budget and. with Council approval of the
Commumty Development FY04-05 budget, an additional $216.000 of HOME funds
will be made available for this contract.
PART 3'
It is found and delermmed that the meeting at which this Resolution passed was open
to the public as required, and that public notice of the time, place, and purpose of said
meeting was g~ven as required by the Open Meetings Act
PART 4. That this resolution shall take effect immediately from and after its passage.
ADOPTED this 27th day of l~ay , A D. 2004
ATTEST
COI~'N1E HOOKS, City Secretary
APPROVED
RON SILVI~A, Mayor
APPROVED.
I-
L:
City Attorney