City of Austin Housing Finance Corporation Board of Directors met June 16.
Here are the minutes provided by the board:
The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened in the Council Chambers of City Hall, 301 W. Second Street, Austin, TX and via Videoconference. The following were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors.
President Adler called the meeting to order at 2:57 p.m. Vice President Alter and Directors Fuentes and Renteria joined via videoconference.
CONSENT AGENDA
AHFC1. Approve the meeting minutes of the May 19, 2022, board meeting of the Austin Housing Finance Corporation.
The motion to approve the minutes of the May 19, 2022, board meeting of the Austin Housing Finance Corporation was approved on consent on Director Harper-Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC2. Authorize negotiation and execution of all documents and instruments necessary or desirable for Austin Housing Finance Corporation, or an affiliate, to acquire in fee simple 4.447 acres out of Lot 2, Parker at Woodward Subdivision, a subdivision in Travis County, Texas, of record in document No. 200100234, of the Official Public Records of Travis County, Texas, located at 2000 Woodward Street, Austin, Texas, 78747 for affordable housing purposes, in an amount not to exceed $2,600,000, plus closing costs. District(s) Affected: District 3.
The motion authorizing the negotiation and execution of all documents and instruments necessary or desirable for Austin Housing Finance Corporation was approved on consent on Director Harper-Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC3. Approve a resolution authorizing the formation of AHFC City View Non-Profit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation (AHFC), to develop low-income housing; approving the form of its certificate of formation and by-laws, and appointing its Board of Directors and President, for the purpose of acquiring the general partner interest in the limited partnership that is the owner of a leasehold interest in a 70- unit multifamily rental development known as City View Apartments, located at 2000 Woodward Street, Austin, Texas 78741. District(s) Affected: District 3.
Resolution No. 20220616-AHFC003 was approved on consent on Director Harper Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC4. Authorize negotiation and execution of all documents and instruments necessary or desirable for Austin Housing Finance Corporation, or an affiliate, to acquire in fee simple Lot 1, Northfair, a subdivision in Travis County, Texas, according to the map or plat thereof, recorded in Volume 36, Page 39 of the Plat Records of Travis County, Texas and related easement located at 615 W. St. Johns Avenue, Austin, Texas 78752 for affordable housing purposes, in an amount not to exceed $7,680,000, plus closing costs. District(s) Affected: District 4.
The motion authorizing the negotiation and execution of all documents and instruments necessary or desirable for Austin Housing Finance Corporation was approved on consent on Director Harper-Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC5. Approve the negotiation and execution of a loan agreement and related documents with AHFC Midtown Non-Profit Corporation, or an affiliated entity, in an amount not to exceed $400,000 for initial working capital such as operating costs and replacement reserves for a 40-unit multifamily rental development known as Midtown Flats, located at 615 W. St. Johns Avenue, Austin, Texas 78752. District(s) Affected: District 4.
The motion authorizing the negotiation and execution of a loan agreement and related documents with AHFC Midtown Non-Profit Corporation was approved on consent on Director Harper-Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC6. Approve a resolution authorizing the formation of AHFC Midtown Flats Non-Profit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation, to develop affordable housing; approving the form of its certificate of formation and by-laws, and appointing its Board of Directors and President; and authorizing AHFC Midtown Flats Non
Profit Corporation to acquire the 40-unit multifamily rental development known as Midtown Flats, located at 615 W. St. Johns Avenue, Austin, Texas 78752 to own, operate, manage, maintain, and develop the multifamily development. District(s) Affected: District 4.
Resolution No. 20220616-AHFC006 was approved on consent on Director Harper Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC7. Approve the negotiation and execution of a loan agreement and related documents with AHFC Retreat Non-Profit Corporation, or an affiliated entity, in an amount not to exceed $7,000,000 to acquire additional equity interest in the owner of the mixed-income and affordable 240-unit multifamily rental development known as Retreat at North Bluff located at 6212 Crow Lane, Austin, Texas 78745. District(s) Affected: District 2.
The motion authorizing the negotiation and execution of a loan agreement and related documents with AHFC Retreat Non-Profit Corporation was approved on consent on Director Harper-Madison’s motion, Director Ellis’ second on an 11-0 vote.
AHFC8. Approve a resolution authorizing the formation of AHFC Retreat Non-Profit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation, to develop low-income housing; approving the form of its certificate of formation and by-laws, and appointing its Board of Directors and President, for the purpose of acting as general partner of a limited partnership, or a managing member of a limited liability company, that will acquire, own, manage, maintain, rehabilitate, and operate the 240-unit multifamily rental development known as Retreat at North Bluff, located at 6212 Crow Lane, Austin, Texas 78745. District(s) Affected: District 2.
Resolution No. 20220616-AHFC008 was approved on consent on Director Harper Madison’s motion, Director Ellis’ second on an 11-0 vote.
President Adler adjourned the meeting at 3:04 p.m. without objection.
https://www.austintexas.gov/edims/document.cfm?id=387749