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Draft <br />Resolution No. <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />PARIS, TEXAS IN SUPPORT OF LW DEVELOPMENT, LLC'S <br />APPLICATION TO THE TEXAS DEPARTMENT OF HOUSING <br />AND COMMUNITY AFFAIRS (TDHCA), AND THE PROPOSED <br />DEVELOPMENT OF SADDLEBROOKE ESTATES LOCATED AT <br />4660 PINE MILL ROAD; APPROVING LW DEVELOPMENT, <br />LLC'S REQUEST FOR A de minimis CONTRIBUTION FOR <br />DEVELOPMENT OF SADDLEBROOKE ESTATES; MAKING <br />OTHER FINDINGS AND PROVISIONS RELATED TO THE <br />SUBJECT; AND PROVIDING AN EFFECTIVE DATE. <br />WHEREAS, LW Development, LLC. has proposed a development for affordable <br />rental housing to be located at approximately 4660 Pine Mill Road to be named <br />Saddlebrooke Estates in the City of Paris, Texas; and <br />WHEREAS, LW Development, LLC. has communicated that it intends to submit <br />an application to the Texas Department of Housing and Community Affairs (TDHCA) <br />for the 2016 Housing Tax Credits for Saddlebrooke Estates; and <br />WHEREAS, in accordance to Section 11.9(d)(2) of the 2016 Qualified <br />Allocation Plan, the aforementioned application by LW development, LLC. requires a <br />resolution voted on and adopted by the governing body expressly setting forth that the <br />City of Paris supports the Application and Development Saddlebrooke Estates located at <br />4660 Pine Mill Road; and <br />WHEREAS, LW Development, LLC. has requested a de minimis contribution for <br />the Saddlebrooke Estates Development as a commitment of Development funding from <br />the City of Paris, Texas. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF PARIS, TEXAS, THAT: <br />Section 1. The findings set out in the preamble to this resolution are hereby in all <br />things approved. <br />Section 2. The City Council of the City of Paris, Texas hereby confirms that it <br />supports the development by LW Development, LLC. of the proposed Saddlebrooke <br />Estates located at 4660 Pine Mill Road at its regular City Council Meeting on January 25, <br />2016. <br />Section 3. That the City Council of the City of Paris hereby approves LW <br />Development LLC's request for a de minimis commitment. <br />