19 - AFFORDABLE HOUSINGItem No. 19
memorandum
TO: Mayor & City Council
FROM: John Godwin, City Manager
SUBJECT: AFFORDABLE HOUSING
DATE: December 29, 2015
BACKGROUND: A residential developer from Oklahoma, LW Development, wishes to build
49 affordable single family detached rental properties in Paris. The company has successfully
developed this type product in other cities, mostly in Oklahoma, but also in Dennison. They
need a resolution approved by the city council supporting the project to the Texas Department of
Housing and Community Affairs, and offering some de minimus fiscal support (which I think we
can do through our existing residential tax abatement program, or reduced building permits).
STATUS OF ISSUE: Planned units are 3 -4 bedrooms, with garages, to be located on East 82
against the west Reno city limit. A possible downside might be that although these are relatively
nice, good -sized homes, they will all be rental units, whose useful lives are usually shorter than
user - occupied homes. Rents will vary depending on family income and unit size.
BUDGET: The company claims $7 million in constriction investment.
RECOMMENDATION: Approve attached resolution.
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Draft
Resolution No.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PARIS, TEXAS IN SUPPORT OF THE SADDLEBROOKE
ESTATES APPLICATION TO THE TEXAS DEPARTMENT OF
HOUSING AND COMMUNITY AFFAIRS (TDHCA), AND THE
PROPOSED DEVELOPMENT OF SADDLEBROOKE ESTATES
LOCATED AT 4660 PINE MILL ROAD AND APPROVING
SADDLEBROOKE ESTATES, LLC'S REQUEST FOR A de minimis
CONTRIBUTION FOR DEVELOPMENT; MAKING OTHER
FINDINGS AND PROVISIONS RELATED TO THE SUBJECT;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, Saddlebrooke Estates, LLC has proposed a development for
affordable rental housing to be located at approximately 4660 Pine Mill Road to be
named Saddlebrooke Estates in the City of Paris, Texas; and
WHEREAS, Saddlebrooke Estates, LLC has communicated that it intends to
submit an application to the Texas Department of Housing and Community Affairs
(TDHCA) for the 2016 Housing Tax Credits for Saddlebrooke Estates; and
WHEREAS, in accordance to Section 11.9(d)(2) of the 2016 Qualified
Allocation Plan, an application for a resolution voted on and adopted by the governing
body expressly setting forth that the City of Paris supports the Application and
Development; and
WHEREAS, Saddlebrooke Estates, LLC has requested a de minimis contribution
for the Saddlebrooke Estates development as a commitment of Development funding
from the City of Paris, Texas
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PARIS, TEXAS, THAT:
Section 1. The findings set out in the preamble to this resolution are hereby in all
things approved.
Section 2. The City Council of the City of Paris, Texas hereby confirms that it
supports the proposed Saddlebrooke Estates located at 4660 Pine Mill Road at its regular
City Council Meeting on January 11, 2016.
Section 3. That the City Council of the City of Paris hereby approves
Saddlebrooke Estates, LLC.'s request for a de minimis commitment.
Section 4. That this resolution shall be effective from and after its date of
passage.
PASSED AND APPROVED this 11th day of January, 2015.
A.J. Hashmi, M.D., Mayor
ATTEST:
Janice Ellis, City Clerk