Title
Conduct a Public Hearing to Consider and Reconsider the Ratification of the Previously Approved Resolution to the Texas Department of Community Affairs Confirming that the City, Based on the City's Support of the McKinney Housing Authority in their Efforts to Comply with the Modified Consent Decree with the Inclusive Communities Project, Inc., supports the Millennium 2 Proposal for Affordable, Rental Housing Located Southeast Corner of future Collin McKinney Parkway and future McKinney Ranch Parkway
Summary
MEETING DATE: April 15, 2014
DEPARTMENT: Housing and Community Development
CONTACT: Janay Tieken, Housing and Community Development Manager
Mark Houser, City Attorney
RECOMMENDED CITY COUNCIL ACTION:
· Ratify the Previously Approved Resolution
ITEM SUMMARY:
· Groundfloor Development has proposed a development for affordable, multi-family rental housing, Millennium 2, to be located at the southeast corner of future Collin McKinney Parkway and future McKinney Ranch Parkway.
· Groundfloor Development has submitted a pre-application to the Texas Department of Housing and Community Affairs (TDHCA) for 2014 Competitive 9% Housing Tax Credits for Millennium 2.
· Groundfloor Development is asking for a Resolution of support, from the City of McKinney, for the development.
· The item was previously heard and approved by City Council on February 4, 2014, but is being re-heard due to error in the posted description of the property.
BACKGROUND INFORMATION:
· The McKinney Housing Authority (MHA) is party, with Inclusive Communities Project, Inc., to a Modified Consent Decree to assist with the development of affordable, multi-family, rental housing, within certain census tracts, within the City of McKinney
· Groundfloor Development proposes to build an affordable, multifamily, rental housing development of 167 units within Census tract 306-01
FINANCIAL SUMMARY: N/A
BOARD OR COMMISSION RECOMMENDATION: N/A