Posting Language
Title
Approve a resolution authorizing the winding up and termination of AHFC Village on Little Texas Non-Profit Corporation, a Texas nonprofit corporation (Nonprofit Corporation) and instrumentality Austin Housing Finance Corporation (AHFC); approving its certificate of termination; and authorizing title or any other interest in real and personal property owned by the Nonprofit Corporation to vest in AHFC. Funding: This item has no fiscal impact.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
This item has no fiscal impact.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091.
Council Committee, Boards and Commission Action:
June 11, 2009 - (AHFC) approved a resolution authorizing the formation of the Nonprofit Corporation; approving the forms of its certificate of formation and by-laws; appointing its Board of Directors and President; and authorizing the Nonprofit Corporation to facilitate the financial closing, development, construction, and operation of the Village on Little Texas, a 240-unit housing property located at 6212 Crow Lane, Austin, Texas 78745.
Additional Backup Information:
This item requests AHFC to adopt a resolution authorizing the winding up and termination of the Nonprofit Corporation; to approve the Nonprofit Corporation's Certificate of Termination; and to accept title to all real and personal property owned by the Nonprofit Corporation.
The Nonprofit Corporation was formed on July 13, 2009, to facilitate the financial closing, development, construction, and operation of the Village on Little Texas, a 240-unit, affordable housing development located at 6212 Crow Lane, Austin, Texas 78745. The Nonprofit Corporation served as the Managing Member of the owner of the development, the Village on Little Texas, LLC (Village LLC).
In August 2022, the Village LLC sold the development to Retreat at North Bluff, LP, a partnership with AHFC and the Texas Housi...
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