Discussion and possible action on any and all matters regarding Resolution No. 1129. A resolution of the Mayor and City Council of the City of San Luis, Arizona, in support of the Housing Development Project “Las Brisas Sunset Apartments” for the application of Low Income Housing Tax Credits from the Arizona Department of Housing. (Jenny Torres, Community Development Director)

Las Brisas is a 60-unit elderly apartment complex proposed to be located on 3.62 acres at Rio Seco Street and Marea Street. The market study conducted states that there is a market need for this type of facility. The waiting list for other properties are between 1-2 years long. The City of San Luis has not received a Low Income Housing Tax Credits (LIHTC) allocation in 13 years and it is part of our general plan to provide affordable multi-family projects housing. The total construction cost of the project is estimated at $5,730,221.00 with approximately $449,060.00 of impact fees. The developer is requesting a partial waiver of impact fees towards the development budget in an amount equal to or greater than 1% of the total construction cost of the project to qualify for points in the LIHTC application. The construction budget is $5,730,221.00 of which 1% is estimated to be $57,305.00 that the City would reduce from the total impact fees.