City of Austin Housing Finance Corporation Board of Directors will meet July 24.
Here is the agenda provided by the board:
The Board may go into a closed session as permitted by the Texas Open Meetings Act, (Chapter 551 of the Texas Government Code) regarding any item on this agenda.
Consent
1. Approve a resolution authorizing the formation of AHFC Sunset Ridge Nonprofit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation; approving the form of its certificate of formation and bylaws; appointing its board of directors and president; authorizing a ground lease; and authorizing AHFC Sunset Ridge Nonprofit Corporation to serve as the general contractor, or co-venturer of the general contractor for the development and to act as general partner, or managing member, of the entity that will own an approximately 364 to 444-unit multifamily rental development constructed in two phases located at 8413 Southwest Parkway, Austin, Texas 78735. Funding: This item has no fiscal impact.
2. Authorize AHFC 501(c)(3) Nonprofit Corporation to form AHFC General Contractor 501(c)(3) Nonprofit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation, to serve as the general contractor for the construction and development of affordable housing developments within the City of Austin on behalf of Austin Housing Finance Corporation and any of its affiliates. This item has no fiscal impact.
3. Approve a resolution approving Austin Housing Finance Corporation’s ownership in the land and phaseone of a to-be constructed two-phase multifamily residential development, Sunset Ridge Apartments, located at or near 8413 Southwest Parkway, Austin, Texas 78735 for the purpose of the exemption of ad valorem and sales and use taxes under Section 394.905 of the Texas Local Government Code. Funding: This item has no fiscal impact.
4. Approve a resolution adopting a policy of appointing the directors and officers of the nonprofit corporations formed by the Austin Housing Finance Corporation by City job title instead of by employee name, with such appointments occurring after initial formation and being for two consecutive three-year terms; and removing the current directors and the president of each nonprofit corporation formed by the Austin Housing Finance Corporation through December 31, 2024, and replacing them according to the adopted policy. This Item has no fiscal impact.
Adjourn
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https://services.austintexas.gov/edims/document.cfm?id=454673
