Posting Language
Title
Authorize negotiation and execution of an amendment to the Fiscal Year 2024-2025 service agreement with the Austin Housing Finance Corporation to increase its funding in the amount of $30,0000,000 for a total contract amount not to exceed $147,258,895. Funding: $30,000,000 is available in the Housing Department’s Capital Budget.
De
Lead Department
Housing Department.
Fiscal Note
Funding in the amount of $30,000,000 is available in the Housing Department’s Capital Budget.
Prior Council Action:
August 29, 2024 - 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 2024-2025 in an amount not to exceed $117,258,895.
For More Information:
Mandy DeMayo, Interim Director, Housing Department, 512-974-3064; Alex Zamora, Chief Administrative Officer, Housing Department, 512-974-3151.
Council Committee, Boards and Commission Action:
August 29, 2024 - 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 2024-2025 in an amount not to exceed $117,258,895.
Additional Backup Information:
If approved, this action increases the amount of the City’s service agreement with AHFC by $30,000,000.
Additional information is available in AHFC’s Fiscal Year 2024-2025 Grant Operating Budget (Exhibit A - $37,191,951) and Capital Budget (Exhibit B - $110,066,944).
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.