A | Consideration and Adoption of Resolution No. 2023-13: A resolution authorizing the City of Flagstaff to loan one-hundred thousand dollars ($100,000) to Foundation for Senior Living, or its successor, as gap financing for a Low-Income Housing Tax Credit application under the Arizona Department of Housing's 2022-2023 Qualified Allocation Plan | ||||||
Housing Analyst Jennifer Mikelson provided a PowerPoint presentation that covered the following: FOUNDATION FOR SENIOR LIVING LOAN REQUEST LOW INCOME HOUSING TAX CREDIT PROGRAM FOUNDATION FOR SENIOR LIVING LOAN TERMS Director of Real Estate Services Steve Hastings, on behalf of Foundation for Senior Living, thanked staff and Council for their work and consideration. Councilmember House thanked staff for the presentation and stated that it is an exciting project that is an example of the advancement of the 10-Year Housing Plan and is an opportunity to meet so many of the community’s goals. |
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Moved by Councilmember Khara House, seconded by Councilmember Miranda Sweet to read Resolution No. 2023-13 by title only. | |||||||
Vote: 7 - 0 - Unanimously | |||||||
A RESOLUTION OF THE FLAGSTAFF CITY COUNCIL, AUTHORIZING THE CITY OF FLAGSTAFF TO PROVIDE ONE HUNDRED THOUSAND DOLLARS ($100,000.00) TO FOUNDATION FOR SENIOR LIVING AS STANDBY LOCAL GAP FINANCING FOR A LOW-INCOME HOUSING TAX CREDIT PROJECT UNDER THE ARIZONA DEPARTMENT OF HOUSING’S (“ADOH”) 2023 QUALIFIED ALLOCATION PLAN (QAP) | |||||||
Moved by Councilmember Khara House, seconded by Councilmember Miranda Sweet to adopt Resolution No. 2023-13. | |||||||
Vote: 7 - 0 - Unanimously | |||||||