(8)(c)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 05/21/2025
- Title:
- Wyndham Park Apartments- Baytown
- Submitted For:
- Kyle Dickson
- Submitted By:
- Rhomari Leigh, City Secretary
- Department:
- City Secretary
Information
ACTION REQUEST
A Resolution supporting the Southeast Texas Housing Finance Corporation for issuance of bonds for Wyndham Park Apartments- Baytown ($20,000,000) Located In Baytown, 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 Baytown, 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 Wyndham Park Apartments- Baytown located in Baytown, 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 Wyndham Park Apartments- Baytown located in Baytown, 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.