From
David P. Jones
Title
Resolution of support for Mariposa of Westchester Senior Living Community
Presenter
David P. Jones, AICP
Recommended Action
Approve
Analysis
Bonner Carrington is proposing to develop Mariposa Apartment Homes, an age-restricted 55+ community at the northeast corner of S. Carrier Parkway and E. Polo Road in the Westchester area. Mariposa Apartments will consist of approximately 90-100 units with a mixture of affordable and market rate units. The property is currently zoned single-family residential.
To develop its properties, Bonner Carrington participates in a special funding program through the Texas Department of Housing and Community Affairs. A Resolution of Support from City Council is required to secure competitive 9% tax credits from TDHCA for this development.
Financial Consideration
None
Body
A RESOLUTION OF THE CITY COUNCIL OF GRAND PRAIRIE, TEXAS REGARDING SUPPORT FOR MARIPOSA APARTMENT HOMES AT WESTCHESTER (TDHCA# 18214 )
WHEREAS, Mariposa Westchester LP (the “Applicant”) has proposed a development for an apartment home community for active adults 55+ located at approximately the 11 East Polo Road, Grand Prairie, Dallas County, TX 75052; to be named Mariposa Apartment Homes at Westchester (the “Development”);
WHEREAS, the Applicant has advised that it intends to submit an application to the Texas Department of Housing and Community Affairs (“TDHCA”) in the 2018 competitive 9% application round for Housing Tax Credits and TDHCA HOME Funds for the Development;
NOW, THEREFORE, IT IS HEREBY RESOLVED, that the City of Grand Prairie, acting through its governing body, hereby confirms that it supports the aforementioned proposed Development, and the related application to the TDHCA (#18214);
FURTHER RESOLVED, that the City intends to issue a commitment and letter confirming that the City will provide a loan, grant, reduced fees, or contribution of other value for the benefit of the Development so that the Appli...
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