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. <br /> COUNCII.MEMORANDUM <br /> #94-55 <br /> September 15, 1994 <br /> TO: The Honorable Mayor and City Council Members <br /> FROM: James C. B�Jr., City Manager <br /> John W. Couter, Corporation Counsel <br /> RE: Amendment to Pheasant Run Agreement <br /> The City Council has previously agreed to support the construction of the Pheasant Run <br /> apartment project. The project is located on the southeast corner of Ash Avenue and Neeley. <br /> Representatives of the project had hoped to have secured low income housing tax credit <br /> authorization by this time but that has not happened. It is their hope that these credits will be , <br /> approved in early 1995. Accordingly, they have requested that the City Council amend the 'I <br /> annexation agreement to provide that the project has until March 17, 1995 to obtain tax credits. <br /> The attached resolution accomplishes that and staff supports their request. I <br /> Attachment <br />