Posting Language
Title
Approve a resolution consenting to the issuance of multifamily private activity bonds by Austin Affordable PFC, Inc., an affiliate of the Housing Authority of the City of Austin, in an amount not to exceed $45,000,000, to finance, in part, the acquisition and rehabilitation of an affordable rental development to be known as Eagle's Landing Family Apartments, located at or near 8000 Decker Lane, Austin, Texas 78724, within the City's extraterritorial jurisdiction.
De
Lead Department
Housing Department.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
April 18, 2024 - Council set a public hearing for May 2, 2024, related to an application by 8000 Decker Lane (TX) Owner, LP, or an affiliated entity, for housing tax credits for rehabilitation of a multifamily development to be financed through the private activity bond program and to be known as Eagle's Landing Family, located at or near 8000 Decker Lane, Austin, Texas 78724, within the City's extraterritorial jurisdiction.
For More Information:
Mandy DeMayo, Interim Director, Housing Department, 512-974-1091; Angela Means, Interim Deputy Director, Housing Department, 512-974-1534.
Additional Backup Information:
If approved, the resolution will allow Austin Affordable PFC, Inc. (Issuer), a public facility corporation created under Chapter 303 of the Texas Local Government Code and affiliated with the Housing Authority of the City of Austin (HACA), to issue multifamily housing revenue bonds to help finance the acquisition and rehabilitation of a 240-unit multifamily rental development to be located in the City's extraterritorial jurisdiction.
The applicant for bond financing is 8000 Decker Lane (TX) Owner, LP. The developer will also be applying for, or already has applied for, an award of non-competitive 4% Low Income Housing Tax Credits from the Texas Department of Housing and Community Affairs.
The Issuer has induced the issuance of up to $45,000,000 in multifamily ...
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