Posting Language
Title
Authorize negotiation and execution of a one-year service agreement with the Austin Housing Finance Corporation to manage and operate various housing programs on the City’s behalf during Fiscal Year 2025-2026 in an amount not to exceed $118,254,863. Funding in the amount of $118,254,863 is available in the City’s Operating and Capital Budgets.
De
Lead Department
Housing Department.
Fiscal Note
Funding in the amount of $118,254,863 is available in the City’s Operating and Capital Budgets.
For More Information:
Mandy DeMayo, Interim Director, Housing Department, 512-974-1091
Alex Zamora, Chief Administrative Officer - Financial Services, Housing Department, 512-974-3151.
Additional Backup Information:
If approved, this action authorizes staff to negotiate and execute the annual service agreement between the City and the Austin Housing Finance Corporation (AHFC). The agreement is funded with federal and local housing funds in the amount of $118,254,863. AHFC will manage and operate various City housing programs during Fiscal Year 2025-2026, including the Homeownership Stabilization, Tenant Stabilization, Economic Mobility, Housing Development Assistance, and other community development programs. Additional information is available in AHFC’s Grant Operating Budget (Exhibit A) and Capital Budget (Exhibit B).
Established in 1979 as a public, non-profit corporation pursuant to Chapter 394 of the Texas Local Government Code, AHFC administers numerous affordable housing programs for the City using federal and local funds.