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2010R07-Ashton Senior Village RESOLUTION NO. 10-R-07 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS IN SUPPORT OF THE PROPOSED ASHTON SENIOR VILLAGE; APPROVING AN APPLICATION FOR HOME FUNDS AND TAX CREDITS TO FINANCE SUCH PROJECT; AND PROVIDING AN EFFECTIVE DATE WHEREAS, DDC ASHTON, LTD, and its affiliates (the "Applicant") propose to build an affordable housing development with up to 176 residential units (the "Affordable Housing") in the City of Schertz, designated for senior citizens whose income is at or below 60% of Area Median Income; and WHEREAS, the Applicant proposes to apply for financing for the Affordable Housing, including Low Income Housing Tax Credits ("Tax Credits") and HOME Funds from the Texas Department of Housing and Community Affairs; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS THAT: Section 1. The City Council of the City of Schertz hereby confirms its support for the development and construction of the Affordable Housing. Section 2. The City Council of the City of Schertz hereby approves the Applicant's application for Tax Credits from the Texas Department of Housing and Community Affairs and authorizes an award of Tax Credits for the Affordable Housing pursuant to the Qualified Allocation Plan of the Texas Department of Housing and Community Affairs. Section 3. The City Council of the City of Schertz hereby approves the Applicant's application for HOME Funds from the Texas Department of Housing and Community Affairs in an amount up to the maximum available under the applicable Notice of Funding Availability, as the Applicant acting on the City's behalf, to support the Affordable Housing. Section 4. The recitals contained in the preamble hereof are hereby found to be true, and such recitals are hereby made a part of this Resolution for all purposes and are adopted as a part of the judgment and findings of the City Council. Section 5. All resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions of this Resolution shall be and remain controlling as to the matters resolved herein. Section 6. This Resolution shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. Section 7. If any provision of this Resolution or the application thereof to any person or circumstance shall be held to be invalid, the remainder of this Resolution and the application 50295740.1 C-1 of such provision to other persons and circumstances shall nevertheless be valid, and the City Council hereby declares that this Resolution would have been enacted without such invalid provision. Section 8. It is officially found, determined, and declared that the meeting at which this Resolution is adopted was open to the public and public notice of the time, place, and subject matter of the public business to be considered at such meeting, including this Resolution, was given, all as required by Chapter 551, Texas Government Code, as amended. Section 9. This Resolution shall be in force and effect from and after its final passage, and it is so resolved. PASSED AND ADOPTED, this 2nd day of February, 2010. CITY OF S ERTZ, TEXAS Mayor ATTEST: ecretary (CITY SEAL) 50295740. I C'2