Loading...
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 - VICINITY MAP - 1 1 1 1 a D Ii