Meeting of the Austin Housing Finance Corporation (AHFC) Board of Directors
May 14, 2009
Meeting Agenda
Agenda, 61kb
Approved Meeting Minutes
The minutes for the Regular meeting of May 14, 2009 were approved on the 11th day of June 2009 on Board Member Martinez' motion, Board Member Morrison's second on a 6-0 vote. Board Member Cole was absent.
AHFC Minutes, 90kb
Agenda Items
Item AHFC001 - May 14, 2009
Approve the minutes of the April 30, 2009 Board meeting of the Austin Housing Finance Corporation.
The minutes for the Austin Housing Finance Corporation meeting of April 30, 2009 were approved on consent on Vice President McCracken's motion, Board Member Morrison's second on a 7-0 vote.
Work Papers and Other Backup Documentation
20090514-AHFC001, Agenda Backup, PDF, 68kb
Item AHFC002 - May 14, 2009
Authorize the negotiation and 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 negotiation and 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 negotiation and 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 negotiation and execution of an operating agreement for the Village on Little Texas with the Limited Liability Corporation that enables the Austin Housing Finance Corporation to serve as the Managing Member in the transaction.
This item was postponed to June 11, 2009 on consent on Vice President McCracken's motion, Board Member Morrison's second on a 7-0 vote. Margaret Shaw, Treasurer, recused herself because she previously worked for Captuity Investments Three, LP. Anthony Snipes, Chief of Staff for the City Manager's Office led the discussion.
Work Papers and Other Backup Documentation
20090514-AHFC002, Agenda Backup, PDF, 115kb
Item AHFC003 - May 14, 2009
Authorize the negotiation and execution of an agreement with the AUSTIN REVITALIZATION AUTHORITY under the Acquisition and Development Program, in an amount not to exceed $281,776 for the purchase of predevelopment materials and site improvements associated with the development of the historic Juniper-Olive District. Funding is subject to Environmental Review and Fund Release and future funds are based on funding availability.
The motion authorizing the negotiation and execution of an agreement with the Austin Revitalization Authority was approved on consent on Vice President McCracken's motion, Board Member Morrison's second on a 7-0 vote.
Work Papers and Other Backup Documentation
20090514-AHFC003, Agenda Backup, PDF, 57kb
Item AHFC004 - May 14, 2009
Authorize the negotiation and execution of an Acquisition and Development Program loan to AUSTIN NEIGHBORHOOD ALLIANCE FOR HABITAT, INC., an affiliate of Austin Habitat For Humanity, Inc., in an amount not to exceed $452,495, in compliance with applicable program financing requirements and performance goals, to assist with the acquisition of 25 developed lots in the Meadow Lake Subdivision, upon which 25 new single-family homes will be build and sold to low- and moderate-income buyers.
The motion authorizing the negotiation and execution of an Acquisition and Development Program loan to Austin Neighborhood Alliance for Habitat, Inc. was approved on consent on Vice President McCracken's motion, Board Member Morrison's second on a 7-0 vote.
Work Papers and Other Backup Documentation
20090514-AHFC004, Agenda Backup, PDF, 62kb
Item AHFC005 - May 14, 2009
Approve the adoption of new by-laws for the Austin Housing Finance Corporation.
The motion to adopt new by-laws for the Austin Housing Finance Corporation was approved on consent on Vice President McCracken's motion, Board Member Morrison's second on a 7-0 vote.
Work Papers and Other Backup Documentation
20090514-AHFC005, Agenda Backup, PDF, 274kb
Page updated: 2/3/2016
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