October 26, 2010 WHEREAS, on January 28, 2004, the City Council ...

COUNCIL CHAMBER

October 26, 2010

WHEREAS, on January 28, 2004, the City Council established the Dallas HousingAcquisition and Development Corporation (DHADC) as its land bank for the purpose ofacquiring, holding and transferring unimproved real property under Subtitle A, Title 12,Local Government Code, Chapter 379C and: 1) approved the City of Dallas Urban LandBank Demonstration Program Plan; 2) approved the Program Statement for the DallasUrban Land Bank Demonstration Program; 3) authorized amendments to the Articles ofIncorporation and By-Laws of the DHADC; and 4) authorized an interlocal contract withthe affected taxing jurisdictions for participation in the Dallas Urban Land BankDemonstration Program by Resolution No. 04-0458; and

WHEREAS, on May 26, 2004, the City Council authorized a contract with the DHADCfor the provision of land bank services as set forth in the amended Program Statementfor the Dallas Urban Land Bank Demonstration Program approved by the City Councilon January 28, 2004 by Resolution No. 04-1726; and

WHEREAS, on October 13, 2004, the City Council approved the City of Dallas FY2004-05 Urban Land Bank Demonstration Program Plan and authorized an amendmentto the DHADC Contract to provide additional operating and acquisition funds for FY2004-05 by Resolution No. 04-2930; and

WHEREAS, on August 24, 2005, the City Council authorized an amendment to thecontract with DHADC to extend the term to November 1, 2006 and to allow the City torefer up to 625 parcels intended for acquisition by the Land Bank for filing of a taxlawsuit by March 26, 2006 by Resolution No. 05-2474; and

WHEREAS, on August 24, 2005, the City Council approved the City of Dallas FY2005-06 Urban Land Bank Demonstration Program Plan by Resolution No. 05-2501;and

WHEREAS, on January 11, 2006, the City Council authorized an amendment to theCity of Dallas FY 2005-06 Urban Land Bank Demonstration Program Plan to increasethe list of properties in the plan that may become eligible for sale to the Land Bank byResolution No. 06-0162; and

WHEREAS, on October 11, 2006, the City Council approved the City of Dallas FY2006-07 Urban Land Bank Demonstration Program Plan by Resolution No. 06-2785;and

WHEREAS, on December 13, 2006, the City Council authorized an amendment to thecontract with DHADC to extend the term to September 30, 2007 and to allow the City torefer up to 300 parcels intended for acquisition by the Land Bank for filing of a taxlawsuit by March 31, 2007 by Resolution No. 06-3403; and

COUNCIL CHAMBER

October26, 2010

WHEREAS, on August 22, 2007, the City Council authorized an amendment to thecontract with DHADC to extend the term to September 30, 2008 and to allow the City torefer up to 300 parcels intended for acquisition by the Land Bank for filing of a taxlawsuit by March 31, 2008 by Resolution No. 07-2385; and


WHEREAS, on August 27, 2008, the City Council authorized an amendment to thecontract with DHADC to extend the term to September 30, 2009 and to allow the City torefer up to 300 parcels intended for acquisition by the Land Bank for filing of a taxlawsuit by March 31, 2009 by Resolution No. 08-2257; and


WHEREAS, on April 8, 2009, the City Council approved an amendment to the City ofDallas FY 2008-09 Urban Land Bank Demonstration Program Plan by Resolution No.09-0981; and

WHEREAS, on September 23, 2009, the City Council authorized an amendment to thecontract with DHADC to extend the term to September 30, 2010 and to allow the City torefer up to 300 parcels intended for acquisition by the Land Bank for filing of a taxlawsuit by March 31, 2010 by Resolution No. 09-2313; and


WHEREAS, on August 11, 2010, the City Council authorized a new contract withDHADC to extend the term to September 30 of each year and to allow the City to referup to 300 parcels intended for acquisition by the Land Bank for filing of a tax lawsuit byMarch 31 of the following year, and allow for the lots acquired with NeighborhoodStabilization Program funds to be sold to a developer for a fee of $1,000 in lieu of thesales price by Resolution No. 10-1 952; and

WHEREAS, Altura Homes DEW, LP (Altura) submitted a proposal and developmentplan to DHADC for 112 lots shown on Exhibit “A” and the DHADC Board has approvedthe development plan and sale, subject to City Council approval; and

COUNCIL CHAMBER

October 26, 2010

WHEREAS, the City Council desires to approve the development plan shown on Exhibit“B” submitted by Altura and authorize the sale of the said 112 lots from DHADC toAltura to build affordable houses; and

WHEREAS, the Neighborhood Stabilization Program allows for more flexibility inincome ranges, the City Council authorizes the City of Dallas Housing/CommunityServices Director to make modifications to the development plan to better serve theneighborhood; NOW, THEREFORE;

BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS:

SECTION 1. That the development plan shown on Exhibit “B” submitted by Altura andthe sale of 112 lots shown on “Exhibit A” from DHADC to Altura is approved.

SECTION 2.. That the City of Dallas Housing/Community Services Director isauthorized to make modifications to the development plan shown on Exhibit “B” to allowthe greatest flexibility for development under the Neighborhood Stabilization Program.

SECTION 3. That the City Manager, upon approval as to form by the City Attorney, isauthorized to execute a release of lien for any non-tax liens that may have been filed bythe City on the lots shown on “Exhibit A”.

SECTION 4. That this resolution shall take effect immediately from and after itspassage in accordance with the provisions of the Charter of the City of Dallas, and it isaccordingly so resolved.

ip 7EXHIBIT A

L . 1ANDiANKPOpEaTYDRHTh}

QLALWflD PURCflA5FR

6605 Blue Quail Ct.I Li St. Crdar Creek Ranch Ph. 2 Attura Homes DFW. LP ‘t 0%) 1W)

Block U,9292

6606 Blue Quail Ct.

2 Lot 30. Cedar Creek Ranch Ph. 2 Atlicra Homer OFW. P l 18W) (9)

Bksk U/8292

6615 Blue Quail Ci.

3 I 12. Cedar Creek Ranctr Ph 2 Altura Homes L)FW. LP

Block L’/9292

6616 Blue Quail Ct.

4 Lot 29. Cedar Creek Ranch Ph. 2 Altura Homes DFW. LI’ .09)39)

Block Uf8292

6625 Blue Quail Ci.

Lot 33, Cedar Creek Ranch Ph. 2 Altura Homes DFW. LI’ hi .189)39)

Block U!8292

6626 Blue Quail Cl.6 Lot 2%, Cedar Creek Ranch Ph 2 Aitura Hrrmes DISk. LI’ hI .0.9) 1$)

Block U/8292

3403 Brahma Dr.7 Lot ill, Cedar Creek Ranch Ph 2 Akura Home,. DFW, LI’ I $1393000

ltkn,k Q/$292

3407 Brahma Dr.8 Lot IS. Cedar Creek Ranch Ph. 2 Altura Homes DFW. LI’ I SI 399)19)

block 0/9292

3415 Brahma Dr.

Lot 5, Cedar Creek Ranch PIt 2 AItrira Home,. DISk. I SlSMt.)W3

bkr,.k Q0292

3436 Brahma Dr.10 lot 3. Cedar Creek Ranch Ph. 2 AlIura Homes DFW. LI’ I 913893(9)

Block ‘1/9202

3440 Brahma Dr.11 Lot 4. Cedar Creek Ranch Ph. 2 Aitura Homes DISk LI’ t $119919)

Block V/r)292

3455 Brahina Dr.12 5. CerlarCreek Ratich P9.2 Altnra Home,. DFW. LP t 91(197)30

Block 0/8292

3456 Brahma Dr.13 LattS,CedarCreekRanchPh.2 AtturaHronecDFw.LP 91.1*83.0)

Block Vf*292

3459 Brahma Dr.14 ri 4. CedarCreek Ratioh Pit. I Attuea Home,. DISk. LI’ I 91,189)00

Bto,.k QI*292

3460 Brahma Dr.

Lot 9. CedarCreek Ranch Ph. 2 Altnea Homes DF,V. LI’ I hi .1881.19)

Block V/*292

3463 Brabma Dr.16 Lot 3, Cedar Creek Ra,r..h Ph. 2 Ahura H rares DFW. LP I 91381)0.)

Block Q/8292

3464 Brahma Dr.17 LI 0. Cedar Creek Ranch Ph. 2 Altura H late,. DFW, LI’ I 91.097.19)

Block V/r1292

3467 Brabma Dr.18 Lot 2. Cedar Creek Ranch Ph. 2 .Attura Home,. DFW, LI’ I St 10.193

block 0/8292

3468 Brabma Dr.19 Lot It. Cedar Creek Ranch Ph. 2 ABner Hate,. DFW. LI’ I 91.189) 91

Block 9/8292

3470 Brahtna Dr.20 L,.t II. Cedar Creek Ranch Ph.2 A1uea Homes 08W, LI’ I “I .79930)

t)l,cck 99292

EXHIBIT ‘A”

ir ,

._______________ LD

I UflWP E-

9 a/s. ii,, A 1)1

‘cs/i,A S

t*tt7(

‘ Ic/s /5>55.5/ /91 Altars Homes DFW, LP I St .111111.111)

5.51

1D/5.

23 a I 5.55 cIt /55 2 AItura Homes DFW. U’ I $1,000.11)

5.110

6615 Cattle Dr.

Lot 4, COdar Creek Ranch Ph 2 AjIera Homes DFW, U’ SI /1111101)

Block R/8292

6619 Cattle Dr.25 Lot 5, Cedar Creek Ranch Ph 2 Altura Homes DPW, I P I 1)111)0)111

Block 11/1)292

6623 Cattle Dr.26 Lot 6 Cedar Creek Rh Ph. 2 MIres Homes DFW. U’ I 1)1,111)0.111)

Block R/8292

6627 Cattle Dr.27 Lot 7. (‘ertar Creek Ranch Ph. 2 Attest Homes DPW. U’ I 51.00000

Block 11)1)292

6631 Cattle Dr.28 Lot Ii, Cedar Creek Ranch Ph. 2 Altars Homes 120W, LI’ I $1001101)

Block R/I1292

6635 Cattle Dr.29 Lot 9, Cedar Creek Ranch Ph. 2 Attura Homes 120W, LI’ I SI (1111)11))

Block RJ1)292

6639 Cattle Dr.30 Lot IC), Cedar Creek Ranch Ph -‘ Alters Homes DFW, I p I 51.1100(11)

Block 11/1)292

6643 Cattle Dr.31 l.ot It. Cedar Creek Ranch Ph. 2 Altars Homes 20W, LI’ I 11.11)111(11)

Bksk 1111)292

6647 Cattle Dr.32 Lot 12. Cedar Creek Ranch Ph. 2 Shun, Homes 120W. U’ I 11)1(111.01)

Block 11)11292

6651 Cattle Dr.33 Lot I). CedarcteekRanchPh.2 .AlturaHomesl)FW.LP I 51,1*11)01)

Block 1111)292

344)6 Charolais Dr.34 Lot 2. Cedar Creek Ranch Ph 2 Altars Homes DFW, LI’ I 51,0011.00

Bk,ck P/1)292

3411 Charolais Dr.35 tot 22, Cedar Creek R rnch Ph 2 Alien, Homes DPW, tP I 51.1(111.11)

Block ‘s/5292

3414 Charolais Dr.36 La 4. Cedar Creek Ranch Ph. 2 Attura Homes 055W. U’ SItS/Il 1))

Block T//t292

3415 Charolais Dr.

lot 21. Cedar Creek Ranch Ph. 2 AItura Horses DFW, U’ I 5.1.1*/It/h)

Block 5/11292

3418 Charolais Dr.38 [at S.C estar Creek Ranch Ph. 2 Attun, Homes OF’),, LI’ I St .0)111.1*1

Block T)*292

3419 Charolais Dr.

Lot 20. Cedar Creek Ranch Ph. 2 Sltura Homes OF’)., LI’ I 511*5)1)0

Block 51*292

3422 Charolais Dr.40 Lot 6, Cc-darCreek Ranch Ph 2 ‘sllura Hoses [20W LI’ I CI *1)1/IC)

Bksk C 920’

‘

EXHIBIT ‘A”

I, ANQER

( flEPUC8

3426 Charo lhr.41 Lot?. fedarCr. c ,‘e ..,ura Homes D’. U’ I 51.0141141

Bko.kT/4!92

3427 Charo4s Dr.42 I I 11. (odor C ‘8 or 1°. Allura H inns DEW. LI’ SI .1441(41

Sock VII%292

3430 Charolais Dr.43 Lot 4, Cedar Crenk Ranch Ph.! AIlura [,mec L)FW ii’ SI .104)141

Bkrck TII)29!

3435 Charolais Dr.4 Lot (6. Cedar Creek Ranch Ph. 2 ,‘dlnnt Homes DFW. LP SI .014)8)

Block ‘o/8292 I3447 Charolais Dr.

5 Lot S.C CreekRmhP 2 lAlluraHomesDEW. LI’ 1,1.140(81

Block ‘,/1!92

3454 Charolais Dr.

Lot 4, CedarCreek Ranch Ph. 2 ,SIIuraHomesDFW,LP SL1OIHAX(

Block Till!’)!

664)4 Cool Morn Dr.7 Lot I. Ceri,r Creek Ranch Ph.! AlLora Homes DFW, LI’ I “

Block Sf4242

6630 Cool Morn Dr.4 Cart 5. Cedar Creek Ranch Ph.! AItura Homes DEW, LI’ Ill)

Block Sf14292

6634 Cool Morn Dr.9 Lot 6. Cedar Creek Ranch P4.2 AItura Homes DFW. LI’ I 51.011)00

Block Sf8292

6638 Cool Morn Dr.50 Lot 7, Cedar Creek Ranch Ph.! Altrera Homes DEW. LI’ I St.IIXW(

t3lrrck S/(t!’L2

6642 Cool Morn Dr.

LI II. CedarUreek Ranch Ph. 2 Aitura Homes DFW, U’ 51.04114>

Block Sf4292

6646 Cool Morn Dr.lot 9. Cedar Creek Ranch Ph.! Aitttra Homes DEW, LP 51,1)1)11)

Block Sf4292

6655 Cool Morn Dr.3 Let >6. Cedar Creek Ranch Ph 2 AlInra Homes DEW. LI’ I 1,1.01%) 00

Block Li)!’)!

6659 Cool Morn Dr.54 at 7. Cedar Creek Ranch Ph.! ?dIrtsa Homes DEW, I.E I 51)44)1%)

Block Cr51292

6663 Cool Morn Dr.

Lot 4. Cedar Creek Ranch Ph.! ‘Shura Homes DFW. LI’ I S1.I%4) 14)

((Cork L/11202

6675 Cool Morn Dr.

Lot 2). Cedar Creek Ranch Ph.! Mtrtra H rules DEW. LI’ I 01)1011.141

Bk,r..k I 01292

6678 Cool Morn Dr.

L1 I?. CrdarCreek Ranch Ph.! Altura Hr’rnes DEW, LI’ I 1,1,144) 47

Block S/IC’)!

6682 Cool Morn Dr.5 Lot 9. Cedar Creek Ranch Ph,! Attnra Homes DFW, LI’ I 81,184)1%)

Block Sf4292

6601 Happy Trails Dr.

Lot I’), Cedar Creek Ranch Ph.! .(Jtnra Ii ones DFW, I.E I ‘1.1441 III

Iliruk Qi8!92


tat 25. Cedar C reek Ranch Ph 2 AItera I) ones DEW. LI’ 51.1447(41

II) cC QJ’(2’42

EXHIBIT AHL2

.....

. ,

fETYP4RL

— ntoww r”lfl?6628 Happy Trails Dr.

Lot 23, C Creek Ranch Ph. 2 Alter., Homes OFW. 1 P I hi .14(10 35)

Block R114292

6629 Happy Trails Dr.62 Lot 28. Cedar Creek Ranch Ph. 2 Altura Homes DPW, LI’ 041> IX)

Block Q/11292


Lot 22. Cedar Creek Ran,.h Ph. 2 ‘tjtera Homes DFW, LP $13853310

Bk,ckR/8292


Lot 27. (edarCreek Ranch Ph. 2 Alter., Homes DFW, I.P $13853130

Block Qfl(292


Lot 21. Cedar Creek Ranch Ph. 2 Altura Homes DFW. LI’ $1330315)

Block R114292


Lot 28, Cedar Creek Ranch Ph. 2 Altura Homes OFW. LI’ >l 388)00

Block Q/I)292


Lot 20, Cedar Creek Ranch Ph. 2 8Jtura Homes DFW. LI’ I hI .1301.111

Block RJ8292


Lot 29. Cedar Creek Ranch Ph. 2 “itera Homes DFW, LI’ I ci.> IX) >14)

Block Q/8292

6644 Happy Trails Dr.69 Lot 19, Cedar Creek RatIch Ph. 2 AIlur.t Homes DFW. LI’ I hi .1551(5)

Block RJ)1292

6645 Happy Trails Dr.70 Lot 30, Cedar Creek Ranch Ph 2 Alien, Homes t)FW i p I $l.(XX(.I)C(

Bk,ck Q/11292

6648 Happy Trails Dr.71 Lot Ill, Cedar Creek Ranch Ph. 2 Altar., Homes OPW, LP I $1318129)

Block R/8292

6649 Happy Trails Dr.72 31. Cedar Creek Ranch Ph. 2 Alter., Homes DFW. LP I hi .1183.110

Block Q/8292


Lot 17. CedarCreek Ranch Ph. 2 Allan., Homes DI’ W. LI’ I $1314141111

Block R/11292

6603 Mojave CL74 1.01 is. CeclarCreek Ran,h Ph. 2 After., Homes DEW, I P I (131)00)>

Bkc.k 13/8292

6604 Mojave CL75 Lot 24 1 edar Creek Ranch Ph 2 5Jtara Homes DEW IP I hi .1813)13

Block 13/8292

6413 Mojave CL76 lot 26, CedarCreek Ranch Ph. 2 Altura Home. DFW. LI’ I 51,11)0041

Block 13/1>292

6614 Mojave CL

Lot 23. Cedar Creek Ranch Ph. 2 Allan, Itontes DEW, LP 1 S 1.1881 III

Block 13/14292

6623 Mojave CL

Lot 27. (edar Creek Ranch Ph. 2 Altar., Homes DEW. LI’ I 51,18)0>53

Block 13/1(292

6624 Mojave CL79 Lot 22, CedaiCreek Ranch Ph. 2 Alter., Homes DFW, LP I 51.388303

Block 1)/8292

3410 Mojave Dr.

1 1 45. Cedar S reek R.mcl, Ph 2 Alter., H rues DEW, LI’ I .1151>81

/K292

4?IEXHIBIT ‘A”

LANDflANP* RTY

3414 Mojave Dr.81 Lot 43. (‘ed.w Creek Ranch Ph. 2 \iwra 5-lonte,, OFW. LI’ Sl.Ihkl.(X)

ISkr,,k 5/8192

3418 Mojase Dr.

La 43. Cedar (‘reek Ran,.h Ph. 2 Allan H,tnec DEW. LI’ I SI.

Bk’ck S/IC”

3422 Mojave Dr.

Lot 31. Cedar Creek Ranch Ph. 1 Altar, Home’, DFW. LI’

Block S/8292

8326 ‘(s4s Dr.84 a . . ‘-a o, ‘t tar, Ifetne,, l)EW [35 I ¶IiME.tX)

.c,o4 C’

3430 Mojave Dr.I.ct 445. Cedar Creek Ranch Ph. 2 ‘Stun Homes DEW. LI’ S I hit) It)

l3Iock 9/14291

3514 Mojave Dr.8 LI 34,CedarCreekRanch Ph. 1 ‘Slur, Home,, DEW. LI’

Block S114291

3518 Mojave Dr.Lot 33. Cedar Creek Ranch Ph. 2 SItar, Homes DEW. 13’ 8131441.114)

Block S,tt!92

3522 Mojave Dr.88 Lot 31. Cedar Creek Ranch Ph. 2 ‘Star, Home,, DFW. LI’ 91,5814) 8)

Bk’.k Sf14292

3526 Mojave Dr.89 Lot lI.C’edarCreekkan,,hI’h. 1 AJtaraHomesDFW.LP 14131(143.0))

Bk,ck Sf15192

3530 Mojave Dr.

Lot 3)3. Cedar Creek Ranch Ph. 2 Mtur Home,, DFW, LI’ I 81.0)8)110

Block 5/6292

3534 Mojave Dr.Lot 19. (‘rOar Creek Rand, Ph. 1 ‘Star, Home,, DEW, LI’ I 81,5814)1)

Block Sf115292

3538 Mojave Dr.

Lot 18. Cedar Creek Ranch Ph. 2 Allan Home,, DEW. LI’ I .0)15)114)

Bkd, Sf8292

3542 Mojave Dr.

Lot 27, Cedar Creek Rand, Ph. 2 rOtor, Home,, DEW. LP 913(151114)

Block 9/8292

3546 Mojave Dr.

Lot 26, Cedar Creek Ranch Ph.] liiura Home’s DEW. LI’ I 51115141110

Block Sf9292

3562 Mojave Dr.

Lot 25, C,adarCreek Rand, Ph.] Altars Home,, DFW. LI’ I ‘.11151(1143

Block 9/8292

3570 Mojave Dr.

Lot 24. Cedar Creek Ranch Ph. 1 Altar, haste,, 0EV,. LI’ SI .1181114)

Block 511)292

3574 Mojave Dr.9 Lot 23. Cedar Creek Ranch Ph. 1 Altara Home’, DEW, LI’ I 91)84)18)

Bkak S/t)292

3578 Mojave Dr.98 Lot 21, Cedar Creek Ranch Ph. 2 Attura Home,, DEW, LI’ I SI .1483.114)

Block S/lIla]

3582 Mojave Dr.

C,., 21. Cedar Creek Ranch Ph.] ‘Star, Home’. DEW. LI’ I SI ‘SIt It

BLa,k S/S’92

3586 Mojave Dr.OQ 1”, CoiarCreek Rat-h Ph. Sltura Home,, DP’. LI’ I ‘1.51481115)

Rack Sh1’72

EXHIBIT 4iw

EXHIBIT B

SECTION II: DEVELOPMENT PLAN

A. DESCRIPTION OF THE LAND REQUESTED FOR DEVELOPI’i4ENT

(I) Number of lots requested in this proposal. 1 Z- (4i

(2) Land Bank name for this parcel of lots. 4t’C. 444..€taiiwn1 )C

(3) Provide the property address and legal description of the land requested (attach extra sheets if necessary)(the “Property”).W ?WktLww,r1z. fr

B. DESCRIPTION OF PROPOSED HOUSES ENTiTY WILL CONSTRUCT

At least 25% of the Land Bank properties sold during any given fiscal year to be developed shall be deedrestricted for sale to households with gross annual incomes not greater than 60% of AMFI. No more than30% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restrictedfor sale to households with gross annual incomes between 81% and 115% of AMFI. (At least 70% of theLand Bank properties sold during any fiscal year to be developed shall be deed restricted for sale tohouseholds with gross annual incomes at 80% AMFI or less.)

Single Family Home (to be sold to low Income households at 60% or less of AMFI):

Number of homes to be built on lots €5+. ço .- cc t a iz f1rSquare Footage of each home lifco — 1700 tNumber of Bedrooms/Baths in each home ,‘ ‘I / .

Number of Garages Number of Carports !!4A_ Detached — AttachedType of Exterior Veneer____________ Which sides Rk .. 4p—4 5!4e.Your Sales Price ranges without Subsidies to Qualified Low Income Buyer ?9.oO — ooo

Single Family Home (to be sold to low income households at 80% or less of AMFI):

Number of homes to be built on lots * ‘D ‘4 liz fa)

Square Footage of each home 1’iv — (700 L’Number of Bedrooms/Baths in each home 3

.‘ 9 / Z.Number of Garages?,j Number of Carports 4th: Detached — Attached ±..Type of Exterior VeneerQ../4bilkP) Which sides 0-.. -lc.i3 deYour Sales Price ranges without Subsidies to Qualified Low Income Buyer Qco3 —

Single Family Home (to be sold to low income households between 81% and 115% of ANIFI):

NumberofhomestobebuiltonltMs

_________

•“ 2 . liz /o)

Square Footage of each home I ‘4oo P ?00Number of Bedrooms/Baths in each home 3 , c / 4, 2Number of Garages_k Number of Carports .Mlk Detached Attached jZType of Exterior Veneer h/54, Which sides tj> 14.. ‘-Your Sales Price ranges without Subsidies to Qualified Low Income Buyer w

ttach extra hett 41 breaking out ihove information for each different model of home.

PROVII)F F[.()OR PLNS Nl) ELEVUELONS. )€L Flpl • ef77 ‘

P I H c

I ti’ ) ,: 9

C. CONSTRUCTION TIMETABLE

State the number of days it will take you to complete construction and sale of improved Property from thedate of obtaining the executed deed from DHADC.. Attach a schedule, if you desire. The deed conveyingproperty sold by DHADC will include a right of reverter so that if the Entity does not apply for aconstruction permit and close on any construction financing within a two year period following the date ofconveyance of the property from the DHADC to the Entity, the property will revert to the DHADC forsubsequent resale.

Commencement of Construction

__________

days -L i *Completion of Construction (b days (- (4 l°rSale of first affordable housing unit to low income households 3o daysSale of last affordable unit to low income households t1o’c days

e iopwC”iJ- LeA,4e w4-

t’ €,/4 c’f ScLathk

-f /‘P R Fi4- J.4eA

October 26, 2010 WHEREAS, on January 28, 2004, the City Council ...

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Transcript of October 26, 2010 WHEREAS, on January 28, 2004, the City Council ...