Posting Language
Title
Authorize negotiation and execution of an amendment to the Fiscal Year 2024-2025 service agreement with the City of Austin to increase its funding in the amount of $30,0000,000 for a total contract amount not to exceed $147,258,895. Funding: The source of funding is the City’s General Obligation Bond Fund.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
Funding in the amount of $147,258,895 is available in the Grant Operating and Capital Budgets of the Austin Housing Finance Corporation.
Prior Council Action:
August 29, 2024 - Council authorized negotiation and execution of a one-year service agreement with the Austin Housing Finance Corporation (AHFC) to manage and operate various housing programs on the City’s behalf during Fiscal Year 2024-2025 in an amount not to exceed $117,258,895.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091; Alex Zamora, Chief Administrative Officer, Housing Department, 512-974-3151.
Council Committee, Boards and Commission Action:
August 29, 2024 - The AHFC Board of Directors authorized negotiation and execution of a one-year service agreement with the City to manage and operate various housing programs on the City’s behalf during Fiscal Year 2024-2025 in an amount not to exceed $117,258,895.
Additional Backup Information:
If approved, this action increases the amount of AHFC’s Service Agreement with the City by $30,000,000.
Additional information is available in AHFC’s Fiscal Year 2024-2025 Grant Operating and Capital Budgets. (See Exhibits A - $37,191,951 and B - $110,066,944 attached.)
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.