Title
Consider approving a resolution authorizing the Texas Housing Foundation to exercise its powers within the territorial boundaries of the City of Pflugerville, Texas; and authorizing a cooperation agreement for rehabilitation of the Pflugerville Meadows Apartments located at 201 Meadow Lane.
Summary
The Texas Housing Foundation (THF) was created to provide a tool to create, develop, administer, manage and provide service to affordable housing projects through related business entities and for the residents and communities in which they are located. THF is governed by a board of directors appointed by the County Commissioners of Blanco, Burnet and Llano Counties. This resolution is required because the city of Pflugerville is located in Travis County.
As a public body, in order for the Texas Housing Foundation to conduct business outside of its jurisdiction, Chapter 392 (Texas Housing Authority law) requires passage of a resolution authorizing a Cooperation Agreement between THF and the local government. This is necessary for the Texas Housing Foundation to complete the proposed rehabilitation project for the Pflugerville Meadows Apartments located at 201 Meadow Lane. Additionally, due to the non profit status of the Texas Housing Foundation, property taxes are not required to be paid. However, the Texas Housing Foundation has agreed through the addition of a Payment in Lieu of Taxes (PILOT) provision included within the agreement that each calendar year the Texas Housing Foundation will make a payment 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.
This agenda item is related to RES-0389.
Item has been reviewed and approved by legal.
Prior City Council Action
This item was tabled at the February 14, 2017 City Council meeting.
Drafter
Emily M. Barron, AICP
Planning Director