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Presentation, discussion, and possible action regarding the Issuance of Multifamily Housing Revenue Bonds (The Gateway at Trinity Forest) Series 2025, Resolution No. 26-006, and a Determination Notice of Housing Tax Credits
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RECOMMENDED ACTION
recommendation
WHEREAS, the Board adopted an inducement resolution for The Gateway at Trinity Forest at the Board meeting of October 10, 2024;
WHEREAS, an application for The Gateway at Trinity Forest requesting 4% Housing Tax Credits, sponsored by LDG Development and the Dallas Housing Finance Corporation, was submitted to the Department on August 5, 2025;
WHEREAS, a Certificate of Reservation was issued in the amount of $50,000,000 on August 14, 2025, with a bond delivery deadline of February 10, 2026; and
WHEREAS, staff recommends approval of the issuance of a Multifamily Housing Revenue Bonds for The Gateway at Trinity Forest (Series 2025), and the issuance of a Determination Notice;
NOW, therefore, it is hereby
RESOLVED, that the issuance of a Multifamily Housing Revenue Bonds (The Gateway at Trinity Forest) Series 2025 in the amount of $50,000,000, Resolution No. 26-006, is hereby approved in the form presented to this meeting;
FURTHER RESOLVED, the issuance of a Determination Notice of $4,514,387 in 4% Housing Tax Credits for The Gateway at Trinity Forest, subject to underwriting conditions that may be applicable as found in the Real Estate Analysis report posted to the Department's website, is hereby approved in the form presented to this meeting; and
FURTHER RESOLVED, that if approved, staff is authorized, empowered, and directed, for and on behalf of the Department to execute such documents, instruments and writings and perform such acts and deeds as may be necessary to effectuate the foregoing.
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BACKGROUND
General Information: The Bonds will be issued in accordance with Tex. Gov't Code ?2306.353 et seq., which authorizes the Department to issue revenue bonds for its public purposes,...
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