(9)(c)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 11/19/2025
- Title:
- Seville Place Apartments- La Porte
- Submitted For:
- Kyle Dickson
- Submitted By:
- Renee Edgar, City Secretary
- Department:
- City Attorney Office
Information
ACTION REQUEST
A Resolution supporting Southeast Texas Housing Finance Corporation's issuance of bonds for Seville Place Apartments — La Porten ($22,500,000) located in La Porte, Texas
BACKGROUND (Brief Summary)
City of Texas City as a governmental unit participates in the Southeast Texas Housing Finance Corporation program and feels it is in the best interest of the City to support the City of La Porte, Texas, in its efforts to seek Multifamily Housing Tax-Exempt Bonds to develop a multifamily property.
The issuance of the above-referenced bonds is expected to advance the Corporation’s continued efforts in providing safe, decent, sanitary, and affordable housing to the residents of its sponsoring political subdivision, including the Seville Place Apartments — La Porte located in La Porte, Texas.
SETH must obtain approval from all nineteen (19) of its jurisdictions for the issuance of any tax-exempt bonds.
The issuance of the above-referenced bonds is expected to advance the Corporation’s continued efforts in providing safe, decent, sanitary, and affordable housing to the residents of its sponsoring political subdivision, including the Seville Place Apartments — La Porte located in La Porte, Texas.
SETH must obtain approval from all nineteen (19) of its jurisdictions for the issuance of any tax-exempt bonds.
RECOMMENDATION
To authorize the City of Texas City to sign General and No Litigation Certificates for SETH.