Posting Language
Title
Authorize negotiation and execution of a loan agreement and related documents with Guadalupe Neighborhood Development Corporation, or an affiliated entity, in an amount not to exceed $6,400,000 for an ownership housing development to be known as Ada Anderson Place, located at or near 5712 ½ Jackie Robinson Street, Austin, Texas 78721. Funding: Funding in the amount of $6,400,000 is available in the Fiscal Year 2025-2026 Capital Budget of the Austin Housing Finance Corporation using 2022 General Obligation Bonds.
De
Lead Department
Austin Housing Finance Corporation
Fiscal Note
Funding: Funding in the amount of $6,400,000 is available in the Fiscal Year 2025-2026 Capital Budget of the Austin Housing Finance Corporation using 2022 General Obligation Bonds.
Prior Council Action:
October 13, 2016: Council adopted Resolution No. 20161013-005, directing the City Manager to explore the economic and legal feasibility of a joint affordable housing project that could include the City of Austin and the Austin Independent School District.
November 3, 2016: Council adopted Resolution No. 20161103-045, directing the City Manager to work with public entities, such as the Austin Independent School District, to identify opportunities for creating affordable housing.
December 8, 2016: Council authorized submission, negotiation and execution of all documents and instruments necessary or desirable for the acquisition of real property, offered through an invitation for bid by Austin Independent School District, located at (1) the northwest corner of Doris Drive and Hathaway Drive [District 7], (2) 3908 Avenue B [District 9], (3) the northeast corner of Jackie Robinson Street and Tannehill Lane [District 1], (4) the southeast portion of 411 East Alpine Road [District 3], (5) the southwest corner of US Highway 183 and Loyola Lane [District 1], (6) 4806 Trail West Drive [District 8], (7) 110 East 9th Street [District 9], (8) 1111 West 6th Street [District 9], (9) the east portion of East 51st Street [District 1], and (10) 4900 Gonzales Street [District 3] for an amount not to exceed $2,880,000 and other consideration, including creation of permanent affordable housing, enhanced greenspace, protecting natural drainage features and protection of a spring.
For More Information:
Deletta Dean, Treasurer, Austin Housing Finance Corporation, 512-978-1410; or Mandy DeMayo, Deputy Director, Austin Housing, 512-974-1091.
Boards and Commissions Action:
December 8, 2016: Austin Housing Finance Corporation (AHFC) authorized the submission, negotiation and execution of all documents and instruments necessary or desirable for the acquisition of real property, offered through an invitation for bid by Austin Independent School District, located at (1) the northwest corner of Doris Drive and Hathaway Drive, (2) 3908 Avenue B, (3) the northeast corner of Jackie Robinson Street and Tannehill Lane, (4) the southeast portion of 411 East Alpine Road, (5) the southwest corner of US highway 183 and Loyola Lane, (6) 4806 Trail West Drive, (7) 110 East 9th Street, (8) 1111 West 6th Street, (9) the east portion of East 51st Street, and (10) 4900 Gonzales Street for an amount not to exceed $2,880,000 and other consideration, including creation of permanent affordable housing.
December 9, 2021: AHFC awarded the 3811 Tannehill Lane Request for Proposal to Foundation Communities and the Guadalupe Neighborhood Development Corporation (GNDC).
April 9, 2026: AHFC will vote on whether to authorize negotiation and execution of all documents and instruments necessary or desirable to grant in fee simple Lot 1, Block A, Norman Commons Subdivision, a subdivision in the City of Austin, Travis County, Texas, according to the plat thereof recorded in Document No. 202300220 of the Official Public Records, Travis County, Texas, located at or near 3801 Tannehill Lane, Austin, Texas 78721, to Guadalupe Neighborhood Development Corporation for the development of approximately 32 affordable ownership units.
Additional Backup Information:
If approved, AHFC will be authorized to enter into a loan agreement and related documents with Guadalupe Neighborhood Development Corporation, or an affiliated entity, for an ownership housing development to be located in Council District 1.
Current Funding Request: $6,400,000 (2022 General Obligation Bonds)
Development Information: Funding will be utilized for development costs of a 32-unit ownership housing development. Eight units will be available for sale to households earning at or below 60 percent of the Median Family Income (MFI), and 24 units will be available for sale to households earning at or below 80 percent MFI. The affordability period is 99 years.
Tax Exemption: A 100percent property tax exemption is anticipated through Community Land Trust (CLT) ownership of the land under Section 11.1827 of the Texas Code. The CLT will retain ownership of the land, while the homeowner will own and be responsible for the property taxes on the improvements.
Development Application: The proposed development’s application to the City may be found here: <http://www.austintexas.gov/page/current-applications>