Posting Language
Title
Approve a resolution authorizing the issuance of Austin Housing Finance Corporation Multifamily Housing Revenue Bonds in an aggregate principal amount up to $33,000,000 to Elm Ridge Preservation, LP, or an affiliated entity, to finance the acquisition and rehabilitation of Elm Ridge Apartments located at or near 1190 Airport Boulevard, Austin, Texas 78702; approving related documents, in substantially the form attached to the resolution; and authorizing specific named representatives of the Austin Housing Finance Corporation to execute the documents relating to issuance of the bonds and closing the transaction. Funding: This item has no fiscal impact.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
May 28, 2026 – Austin City Council (Council) Conducted a public hearing and approved a resolution related to an application by Elm Ridge Preservation, LP, or an affiliated entity, for 4% Non-Competitive Housing Tax Credits for the acquisition and rehabilitation of a multifamily development to be financed through the private activity bond program and to be known as Elm Ridge Apartments, located at or near 1190 Airport Boulevard, Austin, Texas 78702.
For More Information:
Deletta Dean, Treasurer, Austin Housing Finance Corporation, 512-978-1410.
Council Committee, Boards and Commission Action:
May 07, 2026 – Austin Housing Finance Corporation (AHFC) approved an inducement resolution related to an application for private activity bond financing that authorized an allocation of up to $33,000,000 in private activity volume cap multifamily non-recourse bonds to Elm Ridge Preservation, LP, or an affiliated entity, for a proposed rehabilitation of an affordable multifamily development known as Elm Ridge Apartments, located at 1190 Airport Boulevard, Austin, Texas 78702.
Additional Backup Information:
If approved, this action authorizes AHFC to issue up to $33,000,000 in mul...
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