Posting Language
Title
Approve a resolution consenting to the issuance of Multi-family Private Activity Bonds, in an amount not to exceed $5,000,000, by Austin Affordable PFC, Inc., an affiliate of the Housing Authority of the City of Austin, to finance, in part, the new construction of an affordable rental development located at or near 2001 Rosewood Avenue, Austin, Texas 78702.
De
Lead Department
Housing and Planning Department.
Fiscal Note
This item has no fiscal impact.
Prior Council Action:
June 16, 2022 - Council passed Resolution No. 20220616-033 consenting to Austin Affordable PFC, Inc., an affiliate of the Housing Authority of the City of Austin to issuing multi-family private activity bonds in an amount not to exceed $30,000,000 to partially finance new construction of an affordable rental development located at or near 2001 Rosewood Avenue, Austin, Texas 78702.
February 4, 2021 - Council passed Resolution No. 20210204-022, approving an application to be submitted to the Texas Department of Housing and Community Affairs for 9% tax credits and indicating that Council supports the proposed development.
For More Information:
Rosie Truelove, Director, Housing and Planning Department, 512-974-3064; Mandy DeMayo, Deputy Director, Housing and Planning Department, 512-974-1091.
Council Committee, Boards and Commission Action:
September 1, 2022 - Austin Housing Finance Corporation (AHFC) authorized the negotiation and execution of a loan agreement with Austin Affordable Housing Corporation, or an affiliated entity, in an amount not to exceed $9,200,000 for a rental development to be known as Pathway at Rosewood Courts, to be located at or near 2001 Rosewood Avenue, Austin, Texas 78702.
Additional Backup Information:
If approved, the resolution allows Austin Affordable PFC, Inc. (the Issuer), a public facilities corporation created under Chapter 303 of the Texas Local Government and affiliated with the Housing Authority of the City of Austin (HACA) to iss...
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