Res 015-2017 2/7/2017Resolution No. _15-2017__
Resolution of support for a proposed affordable housing tax credit
project, The Reserves at Stone Lake, on State Hwy. 79 between
Rathgeber Road and Professional Drive, consisting of approximately
5 acres, TDHCA Application No 17266
WHEREAS, Overland Property Group, LLC., has advised the City of Wichita
Falls that it intends to submit two applications for affordable rental housing to the Texas
Department of Housing and Community Affairs (TDHCA) for 2017 Competitive 9%
Housing Tax Credits within Region #2, Urban Category, in the City of Wichita Falls,
Wichita County, Texas; and,
WHEREAS, this being the second project, The Reserves at Stone Lake, on
State Hwy. 79 (Archer City Hwy.) consisting of a 5-acre tract between Rathgeber Rd.
and Professional Dr., will be a new, affordable multi-family housing development; and,
Whereas, there is a TDHCA scoring item that requires a de minimis commitment
of development funding by the local political subdivision, City of Wichita Falls, who
confirms the City of Wichita Falls will provide streamlined site plan and permit review
which is valued at least in the amount of $10 for the development; and,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1. The governing body of the City of Wichita Falls supports new opportunities to
encourage the development of quality, affordable housing for its’ residents.
2. The City of Wichita Falls acting through its governing body, hereby confirms
its support for The Reserves at Stone Lake a new affordable housing development
proposed for State Hwy. 79 between Rathgeber Rd. and Professional Dr. (TDHCA
Application #17266); and this formal action has been taken to put on record the opinion
expressed by the City of Wichita Falls.
3. This resolution supports and is intended to allow the Overland Property
Group, LLC., to receive funding from Texas Department of Housing and Community
Affairs (TDHCA) Competitive 9% Housing Tax Credits for The Reserves at Stone Lake
located in W ichita Falls.
4. This resolution of support is intended to allow Overland Property Group, LLC.
to receive the maximum number of scoring points in relation to its Housing Tax Credit
(HTC) application for The Reserves at Stone Lake development to be located in
Wichita Falls.
5. The governing body of the City of Wichita Falls confirms it will provide
streamlined site plan and permit review which is valued at least in the amount of $10 for
The Reserves at Stone Lake proposed project.
6. The governing body of the City of Wichita Falls is hereby authorized,
empowered, and directed to certify this Resolution to the Texas Department of Housing
and Community Affairs (TDHCA).
7. This resolution shall take effect immediately from and after its passage.
PASSED AND APPROVED this the 7th day of February, 2017.
______________________________
M A Y O R
ATTEST:
____________________
City Clerk
Exhibit A - Location Map – The Reserves at Stone Lake
Exhibit B - Aerial Site Plan – The Reserves at Stone Lake
Aerial of Similar Design: The Reserves at Maplewood – TDHCA 2013 Project
Award Winner
Exhibit C - Rendering for the Proposed Project
The Reserves at Stone Lake