Posting Language
Title
Authorize negotiation and execution of an amendment to the Fiscal Year 2023-2024 service agreement with the Austin Housing Finance Corporation to increase its funding in the amount of $4,791,036 for a total contract amount not to exceed $117,525,451.
De
Lead Department
Housing Department.
Fiscal Note
Funding in the amount of $117,525,451 is available in the Housing Department’s Operating and Capital Budgets.
Prior Council Action:
August 31, 2023 - 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 2023-2024 in an amount not to exceed $112,734,415.
For More Information
Rosie Truelove, Director, Housing Department, 512-974-3064; Alex Zamora, Chief Administrative Officer - Financial Services, Housing Department, 512-974-3151.
Council Committee, Boards and Commission Action:
August 31, 2023 - 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 2023-2024 in an amount not to exceed $112,734,415.
Additional Backup Information:
If approved, this action increases the amount of the City’s service agreement with AHFC by $4,791,036.
Additional information is available in AHFC’s Fiscal Year 2024 Grant Operating Budget (Exhibit A - $37,734,415) and Capital Budget (Exhibit B - $79,791,036).
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.