Posting Language
Title
Set a public hearing related to an application by Pedcor Investments-2021-CLXXXIII, L.P., or an affiliated entity, for housing tax credits for a multi-family development to be financed through the private activity bond program and to be known as Santiago Estates, located at or near the southeast corner of the proposed Olivaris Boulevard and Dionda Lane, within the City. (Suggested date: Thursday, September 14, 2023, Austin City Hall, 301 W. Second Street, Austin, Texas).
De
Lead Department
Housing Department.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
June 3, 2021 - Council conducted a hearing and approved a resolution regarding an application by Pedcor Investments-2021-CLXXXIII, L.P. for housing tax credits for a multi-family development that will be financed through the private activity bond program.
For More Information:
Rosie Truelove, Director, Housing Department, 512-974-3064; Mandy DeMayo, Deputy Director, Housing Department, 512-974-1091.
Additional Backup Information:
This action sets a public hearing on an application that will be (or has been) submitted to the Texas Department of Housing and Community Affairs. The Applicant, Pedcor Investments-2021-CLXXXIII, L.P., or an affiliated entity, seeks funding for the development through 4% Low Income Housing Tax Credits (4% LIHTCs) and private activity bonds. After the public hearing, Council will consider a resolution for the proposed development. The property is located within the City in Council District 2.
Proposed Development
Pedcor Investments-2021-CLXXXIII, L.P., which is an affiliate of Pedcor Companies, plans to develop a 300-unit multi-family development to be located at or near the southeast corner of the proposed Olivaris Boulevard and Dionda Lane.
The community will be affordable to households earning at or below 60 percent of the Area Median Family Income. The intended target population of the development is the general population.
Financ...
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