Posting Language
Title
Authorize negotiation and execution of a Housing Assistance Payment Contract and related documents with the City for 78 Local Housing Vouchers that will pay fair market rent for a permanent supportive housing project to be known as Pecan Gardens, located at 10813 Pecan Park Blvd, Austin, Texas 78750 (formerly known as 10811 Pecan Park Blvd).
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
There is no fiscal impact.
For More Information:
Mandy De Mayo, Treasurer, Austin Housing Finance Corporation, 512-974-3064
James May, Community Development Administrator, Housing Department, 512-974-3192
Council Committee, Boards and Commission Action:
Dec 8, 2022 - The Austin Housing Finance Corporation (AHFC) Board authorized negotiation and execution of a Housing Assistance Payment Contract and related documents with Family Eldercare for 28 Local Housing Vouchers that will pay fair market rent for a permanent supportive housing project known as Pecan Gardens, located at 10811 Pecan Park Boulevard, Austin, Texas 78750.
Additional Backup Information:
On December 8, 2022, the AHFC Board approved the negotiation of a contract with Family Eldercare for 28 Local Housing Voucher Program (LHVP) units. Subsequently, AHFC has determined that the contract is required to be between AHFC and the property owner, which in this case is the City. If approved, AHFC will be authorized to negotiate and execute a Housing Assistance Payment Contract and related documents with the City, in order to provide a project-based rental subsidy to Continuum of Care and Permanent supportive housing units. The Contract term is for one year, with the option to extend for additional one-year terms, not to exceed 15 years in total. [KL1]The renewal terms for the contract are subject to the availability of sufficient appropriations from the City to the Housing Trust Fund (HTF).
This contract stems from the City's recently launched LHVP. The LHVP is supported by th...
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