Posting Language
Title
Authorize negotiation and execution of all documents and instruments necessary or desirable to acquire in fee simple approximately 0.16 acres (7,000 square feet) of land located at 2801 Castro Street, Austin, Texas, 78702, being Lot 24, Block 5 of Chernosky Subdivision No. 12, a subdivision of record in Volume 4, Page 235 of the Plat Records of Travis County, Texas, from the City of Austin, for the purpose of granting the land to a local nonprofit organization for the development of a minimum of two units of affordable housing for low-income households. Funding: This item has no fiscal impact. This item is related to Item #5.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
April 24, 2025 - The City of Austin (the "City") Council authorized negotiation and execution of all documents and instruments necessary or desirable to sell and convey approximately 0.16 acres (7,000 square feet) of land located at 2801 Castro Street, Austin, Texas, 78702, being Lot 24, Block 5 of Chernosky Subdivision No. 12, a subdivision of record in Volume 4, Page 235 of the Plat Records of Travis County, Texas, to the Austin Housing Finance Corporation ("AHFC"), for the purpose of contracting with a local nonprofit organization to construct and maintain a minimum of two units of housing for low-income individuals and families on the property, for an amount not to exceed $3,000, including closing costs.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091.
Additional Backup Information:
The property is currently owned by the City and maintained by the City's Watershed Protection Department ("WPD"). The conveyance of this property by the City to AHFC will allow AHFC to then grant the property to the Guadalupe Neighborhood Development Corporation for the development of a minimum of two units of affordable housing for low-income households. The prope...
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