Posting Language
Title
Approve a resolution authorizing the issuance of Ausitn Housing Finance Corporation multifamily housing revenue bonds in an amount up to $25,000,000 to 5900 Pleasant Valley, LP, or an affiliated entity, to finance the development of Sycamores at Pleasant Valley, located at or near 5901 South Pleasant Valley Road, Austin, Texas 78744; make certain approvals due to recent legislation; approve related documents in substantially the form attached to the resolution; and authorize specific named representatives of the Austin Housing Finance Corporation to execute the documents relating to issuance of the bonds and closing the transaction. Funding: The tax exemption includes the City of Austin portion of property taxes, resulting in additional revenue which will aid in the development and preservation of long-term affordable housing.
De
Lead Department
Austin Housing Finance Department.
Fiscal Note
Funding: The tax exemption includes the City of Austin portion of property taxes, resulting in additional revenue, which will aid in the development and preservation of long-term affordable housing.
Prior Council Action:
August 28, 2025 - Austin City Council (Council) conducted a public hearing and approved a resolution related to an application by 5901 Pleasant Valley, LP, or an affiliated entity, for housing tax credits.
September 11, 2025 - Council approved a resolution approving Austin Housing Finance Corporation's (AHFC) ownership in the land and the to-be developed multifamily residential development, Sycamores at Pleasant Valley, located at or near 5901 S. Pleasant Valley Road, Austin, Texas 78744, for the purpose of the exemption of ad valorem and sales and use taxes under Section 394.905 of the Texas Local Government Code.
For More Information:
Deletta Dean, Treasurer, Austin Housing Finance Corporation, 512-974-1091
Council Committee, Boards and Commission Action:
August 28, 2025 - AHFC conducted a public hearing for the Tax Equity and...
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