Meeting of the Austin Housing Finance Corporation (AHFC) Board of Directors
December 10, 2009
Meeting Agenda
Agenda, 65kb
Approved Meeting Minutes
The minutes for the Regular meeting of December 10, 2009 were approved on the 14th day of January 2010 on Board Member Spelman's motion, Board Member Riley's second on a 6-0 vote. Vice President Martinez was off the dais.
AHFC Minutes, 96kb
Video
Play video - December 10, 2009
Agenda Items - December 10, 2009
Scroll down to view each item on the meeting agenda or click on a number to go directly to that item.
| AHFC001 | AHFC002 | AHFC003 | AHFC004 | AHFC005 | AHFC006 |
Item AHFC001 - December 10, 2009
Approve the minutes of the Austin Housing Finance Corporation regular Board meeting of November 5, 2009 and Special Called Board meeting of November 19, 2009.
The minutes for the Austin Housing Finance Corporation November 5, 2009 regular meeting and November 19, 2009 special called meeting were approved on Board Member Spelman's motion, Board Member Cole's second on a 6-0 vote. Vice President Martinez was absent.
Work Papers and Other Backup Documentation
20091210-AHFC001, Agenda Backup, PDF, 147kb
Item AHFC002 - December 10, 2009
Conduct a public hearing and receive public input regarding the issuance of up to $6 million of Austin Housing Finance Corporation Multi-family Housing Revenue Bonds to finance the acquisition and rehabilitation of the Elm Ridge Apartments, 1121 Harvey Street, a 130-unit apartment complex to be owned and operated by Elm Ridge Affordable Partners, Ltd., a single purpose Limited Partnership affiliated with Summit Housing Partners, Tuscaloosa, Alabama.
The public hearing was closed on Board Member Spelman's motion, Board Member Shade's second on a 6-0 vote. Vice President Martinez was absent.
Work Papers and Other Backup Documentation
20091210-AHFC002, Agenda Backup, PDF, 131kb
Item AHFC003 - December 10, 2009
Adopt a resolution approving the issuance of Austin Housing Finance Corporation Multi-family Housing Revenue Bonds, in an aggregate principal amount not to exceed $6 million; approving related documents, in substantially the form attached to the resolution, to provide financing for the acquisition and rehabilitation of the Elm Ridge Apartments, 1121 Harvey Street, to be owned and operated by Elm Ridge Affordable Partners, Ltd., an affiliate of Summit Housing Partners, Inc., Tuscaloosa, Alabama; 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.
Resolution No. 20091210-AHFC3 in the amount of $6 million was approved on Board Member Spelman's motion, Board Member Shade's second on a 6-0 vote. Vice President Martinez was absent.
Executed Resolution
20091210-AHFC003, Resolution , PDF, 1.4mb
Work Papers and Other Backup Documentation
20091210-AHFC003, Agenda Backup, PDF, 1.8mb
Item AHFC004 - December 10, 2009
Approve negotiation and execution of a loan to DMA DEVELOPMENT COMPANY, LLC, or its affiliate, to acquire property and develop 201 units of mixed income senior housing in the Mueller Planned-Unit Development District at the Northeast Corner of Berkman Drive and Tom Miller Street, in an amount not to exceed $2,000,000 under the Rental Housing Development Assistance Program.
The motion authorizing the negotiation and execution of a loan to DMA Development Company, LLC was approved on Board Member Spelman's motion, Board Member Cole's second on a 6-0 vote. Vice President Martinez was absent.
Work Papers and Other Backup Documentation
20091210-AHFC004, Agenda Backup, PDF, 192kb
Item AHFC005 - December 10, 2009
Approve negotiation and execution of an amendment to the 2009-2010 service agreement between the Austin Housing Finance Corporation and the City of Austin, funded by proceeds from the City's affordable housing General Obligation Housing bond proceeds, to increase the amount of funding by $2,055,495, for a total amount not to exceed $17,855,495.
The motion authorizing the negotiation and execution of an amendment to the 2009-2010 service agreement between the Austin Housing Finance Corporation and the City of Austin was approved on Board Member Spelman's motion, Board Member Cole's second on a 6-0 vote. Vice President Martinez was absent.
Work Papers and Other Backup Documentation
20091210-AHFC005, Agenda Backup, PDF, 160kb
Item AHFC006 - December 10, 2009
Approve negotiation and execution of a loan to FOUNDATION COMMUNITIES, INC., or its affiliate organization, under the Rental Housing Development Assistance Program to acquire and rehabilitate a 238-unit mixed-income apartment complex for low- and moderate-income families at 4320 South Congress Avenue in an amount not to exceed $3,000,000.
The motion authorizing the negotiation and execution of a loan to Foundation Communities, Inc. was approved on Board Member Spelman's motion, Board Member Cole's second on a 6-0 vote. Vice President Martinez was absent.
Work Papers and Other Backup Documentation
20091210-AHFC006, Agenda Backup, PDF, 555kb
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