Posting Language
Title
Authorize negotiation and execution of a new or amended loan agreement and related documents with The Sasha, LP, or an affiliated entity, in the amount of $300,000, for a total loan amount not to exceed $8,795,000, for a multifamily rental development to be known as The Sasha, located at or near 1325 Grove Boulevard, Austin, Texas 78741. Funding: Funding in the amount of $300,000 is available in the Fiscal Year 2025-2026 Operating Budget of the Austin Housing Finance Corporation using Project Connect Funds.
De
Lead Department
Austin Housing Finance Corporation
Fiscal Note
Funding: Funding in the amount of $300,000 is available in the Fiscal Year 2025-2026 Operating Budget of the Austin Housing Finance Corporation using Project Connect Funds.
For More Information:
Deletta Dean, Treasurer, Austin Housing Finance Corporation, 512-978-1410; or Mandy DeMayo, Deputy Director, Austin Housing, 512-974-1091.
Council Committee, Boards and Commission Action:
October 10, 2024 - Austin Housing Finance Corporation (AHFC) authorized negotiation and execution of a loan agreement and related documents with The Sasha, LP, or an affiliated entity, in an amount not to exceed $8,495,000 for a multifamily rental development to be known as The Sasha, located at or near 1325 Grove Boulevard, Austin, Texas 78741.
Additional Backup Information:
If approved, AHFC will be authorized to enter into a new or amended loan agreement and related documents with The Sasha, LP, or an affiliated entity, for a multifamily rental development to be located in Council District 3.
Current Funding Request: $300,000 (Project Connect Funds)
Previous Funding Request: $4,679,517 (2022 General Obligation Bonds) and $3,815,483 (Project Connect Funds)
Development Information: Funding will be utilized for development costs of a 60-unit multifamily supportive housing development. 30 of the units will be Continuum of Care (CoC) Permanent Supportive Housing Units and 30 of the units will ...
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