Posting Language
Title
Approve a resolution that adopts the Austin Housing Finance Corporation Grant Operating Budget for Fiscal Year 2025-2026 in the amount of $37,831,507 and the Housing Assistance Fund Budget for Fiscal Year 2025-2026 in the amount of $3,000,000; authorizes the development of program guidelines for the named housing programs for Fiscal Year 2025-2026; and establishes administrative approval limits for the General Manager. Funding is available in the City's Fiscal Year 2025-2026 Operating Budget and the Austin Housing Finance Corporation's Housing Assistance Fund.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
Funding is available in the City's Fiscal Year 2025-2026 Operating Budget and the Austin Housing Finance Corporation's Housing Assistance Fund.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091; or
Alex Zamora, Chief Administrative Officer - Financial Services, Housing Department, 512-974-3151.
Additional Backup Information:
If approved, this resolution adopts the Fiscal Year 2025-2026 Grant Operating Budget (Exhibit A to the resolution) and Housing Assistance Fund Budget (Exhibit B to the resolution) for the Austin Housing Finance Corporation (AHFC). This resolution also directs staff to develop program guidelines for specified housing programs, authorizes the transfer of budget authority from one line to another in limited amounts, and authorizes the General Manager to approve certain contracts or agreements in amounts up to $300,000.
The Austin City Council created AHFC in 1979 as a public, non-profit corporation to facilitate the financing and development of affordable housing for low- and moderate-income residents. In addition to administering single-family[AG1] and multi-family bond programs, AHFC administers most of the City's affordable housing programs. In Fiscal Year 2025-2026, AHFC will administer the Homeownership Stabilization, Tenant Stabilization, Econo...
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