City of Austin Housing Finance Corporation Board of Directors met July 20.
Here are the minutes provided by the board:
The Board of Directors of the Austin Housing Finance Corporation (AHFC Board) was convened on Thursday, July 20, 2023, in the Council Chambers of City Hall, 301 West 2nd Street, Austin, Texas, and via videoconference. The following items were considered by the AHFC Board.
President Watson called the meeting to order at 5:57 p.m. Director Fuentes was absent. Director Harper Madison appeared via videoconference.
CONSENT AGENDA
The following items were acted on by one motion.
AHFC1. Approve the meeting minutes of the May 18, 2023, June 1, 2023, and June 8, 2023, Board of Directors meetings of the Austin Housing Finance Corporation.
The motion to approve the minutes of the May 18, 2023, June 1, 2023, and June 8, 2023, Board of Directors meetings of the Austin Housing Finance Corporation was approved on consent on Director Vela’s motion, Director Alison Alter’s second on a 10-0 vote. Director Fuentes was absent.
AHFC2. Authorize negotiation and execution of all necessary agreements and instruments with Structure Development & JCM Ventures, or other qualified applicant, to develop affordable housing on approximately 2.5 acres located at or near 5900 S. Pleasant Valley Road, Austin, Texas 78744. District(s) Affected: District 2.
The motion authorizing the negotiation and execution of all necessary agreements and instruments with Structure Development & JCM Ventures, or other qualified applicant, was approved on consent on Director Vela’s motion, Director Alison Alter’s second on a 10- 0 vote. Director Fuentes was absent.
AHFC3. Approve a resolution authorizing the issuance of Austin Housing Finance Corporation Multifamily Mortgage Revenue Notes, in an aggregate principal amount up to $50,000,000 to Seabrook Housing LP, or an affiliated entity, to provide financing for the development of Seabrook Square, located at or near 3515 and 3511 Manor Road, Austin, Texas 78723; approving related documents in substantially the form attached to the resolution; authorizing a ground lease; and authorizing specific named representatives of the Austin Housing Finance Corporation to execute the documents relating to issuance of the bonds and closing the transaction. District(s) Affected: District 1.
Resolution No. 20230720-AHFC003 was approved on consent on Director Vela’s motion, Director Alison Alter’s second on a 9-1 vote. Director Kelly voted nay. Director Fuentes was absent.
AHFC4. Approve a resolution authorizing an amendment to the Funding Loan Agreement related to the issuance of Austin Housing Finance Corporation multi-family housing revenue bonds to Govalle Terrace Partners, LP, in substantially the form attached to the resolution, to finance the operating costs of a multi-family housing development known as Los Portales de Lena Guerrero, formerly known as Govalle Terrace, located at or near 5225 Jain Lane, Austin, Texas 78721, and authorizing specific named representatives of the Austin Housing Finance Corporation to execute the documents relating to issuance of the bonds and closing the transaction. District(s) Affected: District 3.
Resolution No. 20230720-AHFC004 was approved on consent on Director Vela’s motion, Director Alison Alter’s second on a 9-1 vote. Director Kelly voted nay. Director Fuentes was absent.
AHFC5. Authorize negotiation and execution of all documents and instruments necessary or desirable for the Austin Housing Finance Corporation, or an affiliate, to acquire the approximately 5.5-acre tract of land at or near 6909 Ryan Drive, Austin, Texas, 78757 from the City of Austin, in an amount not to exceed $3,000,000 including closing costs. District(s) Affected: District 7.
The motion authorizing the negotiation and execution of all documents and instruments necessary or desirable for the Austin Housing Finance Corporation, or an affiliate, to acquire the approximately 5.5-acre tract of land at or near 6909 Ryan Drive, Austin, Texas, 78757 was approved on consent on Director Vela’s motion, Director Alison Alter’s second on a 9-1 vote. Director Kelly voted nay. Director Fuentes was absent.
President Watson adjourned the meeting at 6:06 p.m. without objection.
https://services.austintexas.gov/edims/document.cfm?id=413702
