City of Austin Housing Finance Corporation Board of Directors met Dec. 1.
Here are the minutes provided by the board:
The Board of Directors of the Austin Housing Finance Corporation (AHFC) was convened on Thursday, December 1, 2022 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 11:43 a.m.
CONSENT AGENDA
AHFC1. Approve the meeting minutes of the August 17, 2022, and October 27, 2022, board meetings of the Austin Housing Finance Corporation.
The motion to approve the minutes of the August 17, 2022, and October 27, 2022 Board of Directors meeting of the Austin Housing Finance Corporation was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
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 Soco 121 Apartments, an existing 52-unit multifamily development, for affordable housing purposes, located at 121 Woodward Street, Austin, Texas in an amount not to exceed $10,820,000, including closing costs (Council District 3). District(s) Affected: District 3.
A motion authorizing the negotiation and execution of all documents and instruments necessary or desirable for Austin Housing Finance Corporation or an affiliate to acquire in fee simple Soco 121 Apartments, an existing 52-unit multifamily development was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote.
Director Vela was off the dais.
AHFC3. Approve a resolution authorizing the formation of AHFC Cairn Point Non-Profit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation; approving the forms of its certificate of formation and by-laws; appointing its Board of Directors and President; and authorizing AHFC Cairn Point Non-Profit Corporation to act as general partner or controlling member of the general partner of the limited partnership that will own Cairn Point at Cameron Road, located at or near 7205 Cameron Road Austin, Texas 78752. District(s) Affected: District 4.
Resolution No. 20221201-AHFC003 was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC4. Approve a resolution authorizing the formation of AHFC Mabel Davis Non-Profit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation; approving the form of its certificate of formation and by-laws; appointing its Board of Directors and President; and authorizing AHFC Mabel Davis Non-Profit Corporation to act as general partner or managing member (or controlling member of general partner or managing member) of the entity that will own an approximately 90- to 110-unit multifamily rental development, located at or near 3435 Parker Lane, Austin, Texas 78741. District(s) Affected: District 3.
Resolution No. 20221201-AHFC004 was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC5. Approve a resolution authorizing the formation of AHFC Soco 121 Non-Profit Corporation, a Texas nonprofit corporation and instrumentality of the Austin Housing Finance Corporation; approving the form of its certificate of formation and by-laws; appointing its Board of Directors and President; and authorizing AHFC Soco 121 Non-Profit Corporation to acquire and operate the 52-unit multifamily rental development Soco 121 Apartments located at 121 Woodward Street, Austin, Texas 78704. District(s) Affected: District 3.
Resolution No. 20221201-AHFC005 was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC6. Authorize negotiation and execution of a loan agreement with The SAFE Alliance, or an affiliated entity, in an amount not to exceed $6,000,000 for a rental development to be known as The Lancaster, to be located at or near 5111-5115 Lancaster Court, Austin, Texas 78723. District(s) Affected: District 4.
A motion authorizing the negotiation and execution of a loan agreement with The SAFE Alliance, or an affiliated entity, was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC7. Authorize negotiation and execution of a loan agreement with Live Make Housing Partners LP, or an affiliated entity, in an amount not to exceed $6,500,000 for a rental development to be known as Live Make, to be located at or near 1127 Tillery Street, Austin, Texas 78702. District(s) Affected: District 3.
A motion authorizing the negotiation and execution of a loan agreement with Live Make Housing Partners LP, or an affiliated entity, was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC8. Authorize negotiation and execution of a loan agreement and related documents with Capital A at Menchaca LLC, or an affiliated entity, in an amount not to exceed $1,383,480 for an ownership development to be known as Menchaca Townhomes, to be located at or near 7331 Menchaca Road, Austin, Texas 78745. District(s) Affected: District 5.
A motion authorizing the negotiation and execution of a loan agreement and related documents with Capital A at Menchaca LLC, or an affiliated entity, was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC9. Authorize negotiation and execution of a loan agreement and related documents with AHFC Soco 121 Non-Profit Corporation, or an affiliated entity, in an amount not to exceed $520,000 for renovations to the affordable multifamily rental development known as Soco 121 Apartments located at 121 Woodward Street, Austin, Texas 78704. District(s) Affected: District 3.
A motion authorizing the negotiation and execution of a loan agreement and related documents with AHFC Soco 121 Non-Profit Corporation, or an affiliated entity, was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
AHFC10. Authorize negotiation and execution of a loan agreement and related documents with Talia at E St Johns LLC, or an affiliated entity, in an amount not to exceed $393,000 for an ownership development to be known as 1021 E St Johns, located at or near 1021 East Saint Johns Avenue, Austin, Texas 78752. District(s) Affected: District 4.
A motion authorizing the negotiation and execution of a loan agreement and related documents with Talia at E St Johns LLC, or an affiliated entity, was approved on consent on Director Renteria’s motion, Vice President Alter’s second on a 10-0 vote. Director Vela was off the dais.
President Adler adjourned the meeting at 11:47 a.m. without objection.
https://services.austintexas.gov/edims/document.cfm?id=400903