Posting Language
Title
Approve a resolution adopting a policy of appointing the directors and officers of the nonprofit corporations formed by the Austin Housing Finance Corporation by City job title instead of by employee name, with such appointments occurring after initial formation and being for two consecutive three-year terms; and removing the current directors and the president of each nonprofit corporation formed by the Austin Housing Finance Corporation through December 31, 2024, and replacing them according to the adopted policy. This item has no fiscal impact.
De
Lead Department
Housing Department.
Fiscal Note
This item has no fiscal impact.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091.
Additional Backup Information:
Each nonprofit corporation formed by the Austin Housing Finance Corporation (AHFC) has three directors and four officers including a president, vice president, secretary and treasurer. City of Austin (City) employees are always appointed to the director and officer positions. Appointments have traditionally been done by employee name, but with that approach, any time employee turnover occurs, one or more AHFC and/or nonprofit corporation resolutions are required to fill the vacancy.
If this resolution is approved, after the initial formation of the nonprofit corporation, the directors and officers will be appointed by City job title instead of by employee name so that whenever there is a change in City personnel, the next employee with the applicable job title will automatically fill the open director or officer position without requiring additional AHFC and/or nonprofit corporation resolutions. This approach mirrors the approach already in place for the directors and officers of AHFC. Additionally, as allowed under state law, the directors and officers will be appointed for two consecutive three-year terms, resulting in fewer disruptions in business operations.
Under this resolution, the following City job titles will be appointed as the directors and officers of the nonprofit corporations formed by AHFC, for two consecutive three-year terms. This includes any such job titles in acting or interim status:
|
Director/Officer |
Appointed City Job Title |
|
Director and President |
Assistant City Manager over the Housing Department |
|
Director and Vice President |
Director, Housing Department |
|
Director, Secretary and Treasurer |
Deputy Director, Housing Department |
If there is a vacancy in any of the City positions listed above and there are only two directors, then the City’s Housing and Community Development Officer, or the acting or interim Housing and Community Development Officer, will be a director until the vacancy is filled.
Upon execution of this resolution, the current directors and the president of each nonprofit corporation formed by AHFC through December 31, 2024, are removed and replaced with the applicable job title for two consecutive three-year terms, with any vacancy being filled by the City’s Housing and Community Development Officer, or the acting or interim Housing and Community Development Officer, until the vacancy is filled. After execution of this resolution, each of the nonprofit corporations formed by AHFC through December 31, 2024, will implement their own resolutions removing the vice president, secretary and treasurer and replacing them with the applicable job titles for two consecutive three-year terms.