R-07-02-22-8E2 - 2/22/2007RESOLUTION NO. R -07-02-22-8E2
WHEREAS, low income housing tax credits are essential and
critically important in financing affordable housing opportunities in
this state, and
WHEREAS, the Round Rock Housing Development Corporation, together
with Kilday Realty Corp, desire to obtain housing tax credits from the
Texas Department of Housing and Community Affairs (TDHCA) through the
required application process in 2007 for a seniors independent -living
apartment rental housing development to be known as the Villas at
Rabbit Hill Apartment -Home Community project, and
WHEREAS, the Round Rock Housing Development Corporation, together
with Kilday Realty Corp, desire to obtain HOME Investment Partnership
Program funds from the Texas Department of Housing and Community
Affairs (TDHCA) through the required application process in 2007 for a
seniors independent -living apartment rental housing development to be
known as the Villas at Rabbit Hill Apartment -Home Community project,
and
WHEREAS, the Round Rock Housing Corporation and Kilday Realty
Corp desire to develop Villas at Rabbit Hill Apartment -Home Community
project jointly, and
WHEREAS, the Round Rock Housing Corporation and Kilday Realty
Corp's proposed development of the Villas at Rabbit Hill Apartment -Home
Community project will meet a large demand for affordable senior
housing, and
WHEREAS, the Round Rock Housing Corporation and Kilday Realty
Corp are seeking local support of this proposal, Now Therefore
0:\wdox\RESOLUTI\R,0222E2.WP0/jkg
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS,
That the Mayor and City Council support the submission of an
application by the Round Rock Housing Corporation and Kilday Realty
Corp for 2007 tax credits through
Community Affairs (TDHCA) program,
Program funds, for the purpose of
the Texas Department of Housing and
and for HOME Investment Partnership
developing the Villas at Rabbit Hill
Apartment -Home Community affordable seniors independent -living
apartment rental housing development project.
Further, that the Mayor and City Council sign this Resolution to
comply with Texas Administrative Code, Section 49.9(i)(5), which
requires submission of a resolution with the application which
authorizes the applicant to act on behalf of the City of Round Rock in
applying for HOME or Housing
Trust Funds from TDHCA.
The City Council hereby finds and declares that written notice of
the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to the
public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted
upon, all as required by the Open Meetings Act, Chapter 551, Texas
Government Code, as amended.
RESOLVED this 22nd day of February, 2007.
ST:.
Cit + of R
CHRISTINE R. MARTINEZ, City Secr
ary
2
Mayor
and Rock, Texas
DATE: February 15, 2007
SUBJECT: City Council Meeting - February 22, 2007
ITEM: 8.E.2. Consider a resolution of support
Housing and Community Affairs tTexas Department
aiirrs(TDHCA)2007Housing Tax
Credits and HOME Investment Partnership Program fund for
the proposed Villas at Rabbit Hill.
Deua--`nt:
Staff Person:
Justification:
Planning and Community Development
Mona Ryan, Community Development Coordinator
Affordable rental housing for seniors is identified as a high priority in the 2004-2009
City of Round Rock Consolidated Plan. The projected number of new rental units
needed for elderly is 345 and for small related families (2) is 1,295. The proposed
development is consistent with the Consolidated Plan. TDHCA requires a support
resolution from the city for tax credit applications. The developer has met with staff
on this proposed development and has received guidance and support for the
project.
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: Texas Department of Housing and Community Affairs
Background Information:
The Round Rock Housing Development Corporation is submitting a joint application
with Kilday and Associates to the Texas Department of Housing and Community
Affairs for 2007 housing tax credits and HOME funds. The proposed site for the Villas
at Rabbit Hill is an 8.9 -acre site on the west side of FM 1460, north of Hwy. 79.
This is a proposed 150 -Unit Seniors Apartment Community including one hundred
twenty (120) 1 -bedroom 1 -bath and thirty (30) 2 -bedroom 2 -bath plans. One -
hundred and thirty-five (135) units will be reserved for tenants earning less than
60% of the Austin -Round Rock MSA Median Income and 15 units will be reserved for
tenants earning less than 30% of AMI. For the year 2006, this translates to annual
income of up to $29,880 for a single -person, and up to $34,140 for a two -person
household in the 60% AMI category, and up to $14,950 for a single -person, and up
to $17,100 for a two -person household in the 30% AMI category
Public Comment: Not required at this time.