HomeMy WebLinkAboutCREST AT EDINBURGH APARTMENTS RESOLUTION
A RESOLUTION SUPPORTING VANTAGE DEVELOPMENT, LLC's APPLICATION FOR TAX
CREDITS FOR THE CREST AT EDINBURGH HOUSING PROJECT, PHASE II OF THE EDINBURGH
POINTE MASTER PLANNED COMMUNITY, TO BE LOCATED IN SOUTH AUGUSTA.
WHEREAS, the Georgia State Department of Community Affairs serves a vital role in its efforts in
assisting with the development of housing in the State of Georgia by:
. Improving the living environment for residents of Georgia;
. Revitalizing areas and contributing to the improvement of neighborhoods; and
. Building sustainable communities; and
WHEREAS, the Department of Community Affairs has established certain regulations whereby low-
income housing tax credit applications, to be competitive, must receive a Resolution of Support by
the governing authority or the pertinent municipality or county; and
WHEREAS, Vantage Development is preparing an application for Low-Income Tax Credits from the
Georgia Department of Community Affairs seeking funds which will be used to acquire land and
construct 40 Single Family Rental Homes, which will convert to homeownership at the end of
affordability period (15 years or 20 years depending on financing structure); and
WHEREAS, the Edinburgh Pointe Master Planned Community consists of Phase I "The Terrace at
Edinburgh" (72 units HFOP) and Phase II "The Crest at Edinburgh" (40 SF Homes); and
WHEREAS, the Augusta Commission approved Phase I "The Terrace at Edinburgh" on May 20,
2008; and I
WHEREAS, Vantage Development proposes to construct the second phase of the "Edinburgh Pointe
Master Planned Community known as the Crest at Edinburgh (40 Single Family Homes); and
WHEREAS, the Commissioners understands and supports Vantage Development's efforts in the
redevelopment of South Augusta, the City's "project of priority" (for the 2009 tax credit funding
cycle) is Underwood Homes, that the Augusta Housing Authority and Walton Communities, LLC has
made two (2) applications (Phase I & II) to the Georgia Department of Community Affairs for tax
credit approval; and
NOW, THEREFORE BE IT RESOLVED: That the Augusta Commission, hereby adopts this
Resolution of Support, on behalf of Vantage Development, LLC, for development of Phase II of the
Edinburgh Pointe Master Planned Community, "The Crest at Edinburgh" to be located in South
Augusta, effective the date set forth below.
ATTEST:
AUGUSTA, GEORGIA
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David S. Copenhaver
Mayor
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CERTIFICATION