15-Move to approve a resolution supporting the application of Paris Retirement Village II

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CITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originaring Department: Presented By: Agenda Item No.: Ol/08/10 Council Date: City Manager Joe Chamy, Developer; Kevin 15. 01/11/10 Carruth, City Mana er RECOMMENDED MOTION: Move to approve a resolution supporting the application of Paris Retirement Village II, Ltd., for housing tax credits and HOME Investment Partnership funds. POLICY ISSUE(S): Community development. BACKGROUND: Joe Chamy of Chamy Investments developed the 76 units of Paris Retirement Village (1500 W. Washington Street) in 2004 and wants to develop a second, 80-unit phase for the project. Mr. Chamy would like to take advantage of housing tax credits and funding through the Texas Department of Housing and Community Affairs (TDHCA) HOME Program funds to build Phase II. Passing the resolution does not obligate the City to commit any resources, financial or in-kind, or make the City liable for any part of the project. By the City expressing support for the project, Mr. Chamy's application will gain additional points in the TDHCA grant review process. Mr. Chamy's resume accompanies this briefing sheet and lsit all of his projects and the year they were developed. Chamy Investments has never sold any of their developments and manages all of the properties itself. Mr. Chamy will attend the meeting to present his request. BOARD/COMMISSION RECOMMENDATION: N/A EXHIBITS: Resolution; Agenda Item Request form; Chamy resume ACTION: BUDGET INFO: ❑ Financial Report ❑ Minute Order Expense $ ❑ Department Report ❑ Resolution Budgeted Amt. $ ❑ Presentation ❑ Ordinance y'I'D Actual $ ❑ Public Hearing ❑ Other Acct. Name Acct. Number FiscAL NoTES: REVIEWED AND APPROVED BY: E Administration ❑ City Clerk ❑ Community Development ❑ EMS/IT ❑ Finance ❑ Fire ❑ Municipal Court E Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities City of Paris Revised 2/04/08