HomeMy WebLinkAbout2325 ResolutionSecti 2. This Resolution shall take effect immediately upon passage
by the City Council of the City of Pasco at a regular meeting this
, 1997
Charles D Kilbu Mayor
APPRO 4P AS TOE
Leland B. Kerr, City Attorney
RESOLUTION NO. aiD,
A RESOLUTION supporting a 51 unit tax credit financed apartment complex
located within an area bounded by West Lewis Street,
20th Avenue, West Court Street and 1-182
WHEREAS, the 1986 Tax Reform Act created the federal low-income housing
tax credit, under Section 42 of the Internal Revenue Code, to assist in the development
of low-income rental housing, and
WHEREAS, the Washington State Housing Finance Commission requires
certifications from local governments that proposed housing projects are consistent
with local Consolidated Plans and meet local housing needs, and
WHEREAS, approximately 40 percent f_E'as)co renter households are paying
more than 30 percent of their i come for h usi expenses, and
i WHEREAS, the proposed 51 t akr4ment complex shall not be exempt from
any city taxes, fees or charges, and
WHEREAS, final city approvals ,of this project may be subject to approval of a
zoning map amendment,
NOW, REFORETPIE----CITY COUNCIL OF THE CITY OF PASCO,
WASHINGT IV, DO RESOLVE AOLLOWS:
lion 1. The City Counci,Y finds that a 51 unit low-income tax-credit project
is con stent with he city Consolidated Plan and will meet a local housing need by
incr asing the • pply of affordable housing
WHEREAS, the City of Pasco has d the Consolidated Housing and
Community Development Plan, December 16, 1 nd--
Foo n icV 'EA/77
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