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RESOLUTION NO. R-1213-76: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, SUPPORTING CARLAND GROUP, L.L.C., IN ITS ENDEAVOR TO CONSTRUCT UP TO 60 UNITS OF SENIOR HOUSING AT 909 BRANDYWINE LANE.
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BACKGROUND: Th RESOLUTION NO. R-1213-76: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, SUPPORTING CARLAND GROUP, L.L.C., IN ITS ENDEAVOR TO CONSTRUCT UP TO 60 UNITS OF SENIOR HOUSING AT 909 BRANDYWINE LANE.
e federal government, acting through the Oklahoma Housing Finance Agency, has created tax credit rules for allocation of tax credits on a national basis for new housing and rehabilitation of existing housing that is intended to assist in providing affordable housing. To gain approval for the tax credits, local support of the project is required.
DISCUSSION: Carland Group, LLC has requested that the City Council adopt Resolution R-1213-76 in support of a specific application to construct up to sixty apartments for seniors on Brandywine Lane. This location is west of 24th Avenue S.E. and north of Lindsey. The company has developed and continues to operate eight similar developments in Oklahoma.
The rules of the program dictate that certain points will be awarded to the application if it is supported by Resolution from the City indicating that the development would provide needed housing of an affordable nature. Because the award of such tax credits is on a limited and very competitive basis, the applicant is seeking every possible means to gain support for this project. One hundred percent of the units will be offered to tenants earning at or below sixty percent of the area median income, and all units will be for persons sixty-two years old or older.
RECOMMENDATION: Because of the demonstrated need for additional affordable housing, and compliance with the Consolidated Plan, Staff recommends approval of the applicant's request for Council to approve said Resolution for support of this project.