Contract - Texas Housing Foundation - 2/23/2017COOPERATION AGREEMENT
BETWEEN
THE CITY OF ROUND ROCK, TEXAS
AND THE
TEXAS HOUSING FOUNDATION
EFFECTIVE'��, 2017
WHEREAS, on —t6j5W4,, 2017 under provisions of the Tex. Local
Government Code, Section 392.017(d), the City of Round Rock, declared that there is a need for
the Texas Housing Foundation, to exercise its powers within the territorial boundaries of the City
of Round Rock, Texas (the "City") because there exists in City of Round Rock a shortage of safe
and sanitary housing available to lower income persons at rentals they can afford;
WHEREAS, Tex. Local Govt. Code, Section 392.017(d), requires that the City Council
adopt a resolution authorizing the Texas Housing Foundation to exercise its powers in the city,
and authorizing a cooperation agreement under Section 392.059(a);
WHEREAS, the Board of Commissioners of the Texas Housing Foundation also adopted
a resolution to exercise its powers in the city and authorized a cooperation agreement under
Section 392.059(a);
NOW, THEREFORE, the parties hereto, the City, and the Texas Housing Foundation
agree as follows:
Section 1: Cooperation Agreement. The City and the Texas Housing Foundation agree to
cooperate to allow the Texas Housing Foundation, to provide housing for lower income persons
in the City, consistent with the provisions below.
Section 2: Housing Project Authorization. The Texas Housing Foundation, is authorized
to exercise its powers under the Texas Housing Authorities Law, Tex. Local Govt. Code,
Chapter 392, to finance, plan undertake, or operate a housing project in the City as provided in
this Agreement.
Section 3: The Texas Housing Foundation is authorized to acquire land, develop site
improvements, and construct buildings for housing development within the territorial boundaries
of the City, and to operate and manage such project for the benefit of lower income residents of
the City (the "Project").
Section 4: The City and the Texas Housing Foundation agree that the Texas Housing
Foundation is exempt from payment of ad valorem real property taxes for the Project and agrees
the Texas Housing Foundation will each calendar year make a Payment in Lieu of Taxes
(PILOT) in an amount equal to the calculation of the ad valorem property taxes that would be
due to the City for the Project if the Texas Housing Foundation was not exempt from payment.
The Texas Housing Foundation or any successor owner of the Project, will be obligated to make
the annual PILOT payment to the City.
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Section 5. Annual Reports. The Texas Housing Foundation shall submit within 120 days
after the end of its fiscal year a report to the Mayor of the City describing the housing and
services operation undertaken for the benefit of lower income residents of the City of Round
Rock and other activities of the Texas Housing Foundation in the City.
Section 6. Fee Waiver. The City agrees to waive $10.00 in permit fees for the Project.
Section 7. Preservation of Authority. No applicable provision or intention in this
cooperation agreement limits the authority or power of the City to exercise its powers under any
law. No provision or intention in this cooperation agreement limits the authority or power of the
Texas Housing Foundation to exercise its powers under the Texas Housing Authorities Law,
Tex. Local Govt. Code, Chapter 392, to finance, plan, undertake, construct, or operate a housing
project under this Cooperation Agreement or in the area of operation of the Texas Housing
Foundation defined in Tex. Local Govt. Code 392.013.
Section 8. Implementation. The Mayor of the City and the President of the Texas
Housing Foundation are authorized to take any reasonable and necessary action to effectuate and
implement the direction and intention of this cooperation agreement and the authorizing
resolutions.
Agreed this Jam?—day of"0'
2017.
Attest:
City of Round Rock
0 13q
By: Alan McGraw, Mayor
Texas Housing Foundation
J— (�
By: Mark Mayfield, President
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