Posting Language
Title
Approve a resolution authorizing the execution of an Affordable Housing Program Agreement and related Affordable Housing Program documents to obtain a $750,000 loan or grant for the development to be known as Espero Austin at Rutland Apartments, located at or near 1934 Rutland Drive.
De
Lead Department
Housing and Planning Department.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
February 6, 2020: Council approved a resolution of support for Espero Austin at Rutland to the Texas Department of Housing and Community Affairs' 2020 9% Low Income Housing Tax Credit (LIHTC) round. Having not secured a 9% LIHTC award, Espero Austin at Rutland, LP pursued a 4% LIHTC award.
September 3, 2020 - Austin City Council set a public hearing for September 17, 2020 regarding an application by Espero Austin at Rutland, LP, for housing tax credits for a multi-family development that will be financed through the private activity bond program.
September 17, 2020 - Austin City Council conducted a public hearing regarding an application by Espero Austin at Rutland, LP, for housing tax credits for a multi-family development that will be financed through the private activity bond program.
For More Information:
Rosie Truelove, Treasurer, Austin Housing Finance Corporation, 512-974-3064; Mandy DeMayo, Interim Deputy Director, Housing and Planning Department, 512-974-1091.
Council Committee, Boards and Commission Action:
July 29, 2020 - Austin Housing Finance Corporation Board (Board) approved an inducement resolution for private activity bond financing to be submitted to the Texas Bond Review Board for an allocation of up to $20,000,000 in private activity volume cap multifamily revenue (non-recourse) bonds.
September 3, 2020 - The Board authorized negotiation and execution of a loan agreement and related documents between Austin Housing Finance Corporation (AHFC) and Espero Austin at Rutland, LP, or an affiliated entity, in an amount not ...
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