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Item No. 10 <br />memorandum <br />TO: Mayor & City Council <br />FROM: John Godwin, City Manager <br />SUBJECT: SENIOR AFFORDABLE HOUSING REQUEST <br />DATE: February 1, 2016 <br />BACKGROUND: Brownstone, a development company out of Houston, is proposing <br />construction of an approximately 80 unit rental housing community that would serve renters <br />aged 55 and up. Like the two developers that addressed the council last month, the Paris Senior <br />Village would use tax credits to provide affordable housing to a percentage of its tenants. Due to <br />rules and regulations of the tax credit program, like the others this development is proposed to be <br />in east Paris, specifically a 6.18 acre tract at the southeast corner of Sunrise Drive and 42nd <br />Street. <br />STATUS OF ISSUE: Representatives of the developer will be present to provide details and <br />answer questions about their plans and proposals. Tax credit projects must have the support of <br />the local governing body through a resolution approved by the city council to receive approval <br />by the TDHCA. This will also be an opportunity for the council to receive public input. <br />BUDGET: NA <br />RECOMMENDATION: Receive input and approve or disapprove a resolution of support. <br />