Meeting of the Austin Housing Finance Corporation (AHFC) Board of Directors
June 18, 2009

Meeting Agenda

Approved Meeting Minutes

The minutes for the Regular meeting of June 18, 2009 were approved on the 6th day of August 2009 on Vice President Martinez' motion, Board Member Morrison's second on a 5-0 vote. Board Members Riley and Spelman abstained because they were not in attendance at the June 18, 2009 meeting.

AHFC Minutes, 56kb

Agenda Items

Item AHFC001 - June 18, 2009

Authorize the execution of an agreement to purchase 11.1 acres of land in the 400 block of Little Texas Lane from CAPTUITY INVESTMENTS THREE, LP, for an amount not to exceed $2,000,000 in Rental Housing Development Assistance Program funds for the development of the Village on Little Texas, a proposed 240-unit mixed-income apartment complex in the 400 block of Little Texas Lane; authorize the execution of a lease agreement for the land for up to 99 years to a newly created Limited Liability Corporation established to develop and operate the Village on Little Texas; authorize the execution of a Rental Housing Development Assistance Program loan to the Limited Liability Corporation in an amount not to exceed $940,000 to assist in the development of the Village on Little Texas; and, authorize the execution of an operating agreement for the Village on Little Texas with the Limited Liability Corporation that enables a non-profit subsidiary of the Austin Housing Finance Corporation to serve as the Managing Member in the transaction.

The motion authorizing the execution of an agreement to purchase land from Captuity Investments Three, LP was approved on Vice President McCracken's motion, Board Member Cole's second on a 6-1 vote. Board Member Morrison voted no.

Work Papers and Other Backup Documentation

20090618-AHFC001, Agenda Backup, PDF, 110kb

20090618-AHFC001, Agenda Late Backup, PDF, 139kb

Page updated: 2/3/2016
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