Pecos Housing Finance Corporation reports $426K in home repairs for low-income residents

The Pecos City Council convened on May 8, 2025, to discuss significant developments regarding the Pecos Housing Finance Corporation (PHFC), focusing on its projects, bylaws, and financial reports. The meeting highlighted the corporation's ongoing efforts to address housing needs in Pecos, particularly for low and moderate-income residents.

John Salcedo, the Executive Director of the PHFC, reported that the organization has invested over $426,000 in essential repairs for dilapidated housing, benefiting the community's most vulnerable residents. This funding, sourced entirely from private capital, aims to improve living conditions through critical repairs, including roofing and accessibility modifications. Salcedo emphasized the importance of these initiatives, stating that they are crucial for families who cannot afford such repairs without assistance.

The council also discussed the PHFC's future plans, which include pursuing additional funding for repairs to multifamily apartments and exploring partnerships to develop more affordable housing options in Pecos. Salcedo expressed a commitment to expanding access to high-quality housing, which he believes will contribute positively to the local economy and community well-being.

However, the meeting was not without controversy. Several council members raised concerns about the transparency and communication surrounding the PHFC's operations. Questions were posed regarding the financing of housing projects and the potential implications of recent media coverage that suggested the PHFC was granting property tax exemptions. Salcedo clarified that the PHFC does not have the authority to grant such exemptions; instead, these are managed by local appraisal districts based on specific criteria.

The discussion also touched on the broader context of housing finance corporations in Texas, with Salcedo noting that the PHFC is not unique in its approach and that similar organizations operate across the state. This acknowledgment came amid concerns about the potential impact of legislative changes on housing finance practices.

As the meeting progressed, council members expressed a desire for improved communication and transparency from the PHFC, particularly regarding financial audits and project updates. The need for a clearer understanding of the PHFC's operations and its relationship with the city was emphasized, with calls for more regular updates and community engagement.

In conclusion, the Pecos City Council's meeting underscored the critical role of the PHFC in addressing housing needs while also highlighting the importance of transparency and communication in fostering trust between the corporation and the community. As the council looks ahead, it remains focused on ensuring that the benefits of housing initiatives are felt by all residents, particularly those in need. The next steps will likely involve ongoing discussions about improving collaboration and addressing any lingering concerns about the PHFC's operations.