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Travis County approves PFC resolution for Thaxton (Paxton) Road apartments; 75‑year tax exemption and affordability period noted
Summary
Commissioners approved a Travis County Facilities Corporation (TCFC) resolution supporting a multifamily workforce housing project on Thaxton Road; staff flagged the 75‑year tax exemption and county oversight to monitor long‑term affordability and property condition.
Travis County Commissioners Court on Tuesday approved a resolution authorizing a proposed Travis County Facilities Corporation multifamily project known as the Thaxton Road Apartments (listed in county materials as Paxton/Thaxton Road), a public facility corporation (PFC) project sponsored by the Housing Authority of Travis County (HATC/TCFC).
Monique Coleman of the Supportive Housing Division briefed the court on PFC requirements and additional local prerequisites the county seeks for developers. The developer, NRP, provided required certifications including a commitment to begin construction within the county’s requested timeframe. The project site was described as 8525 (or 8520 per some materials) Paxton/Thaxton Road in Precinct 4 in the Austin extraterritorial jurisdiction.
Key project details presented to the court included an estimated 280 affordable units (the staff slide referenced “2 80” units), an affordability and tax‑exemption period of 75 years, and a high rent‑reduction ratio (the Novogradic backup lists a 97.7% ratio of rent reduction to taxes). Staff emphasized that PFC projects are intended to produce workforce housing and that TCFC has represented it will reinvest PFC proceeds into deeper affordability elsewhere.
Transportation staff noted that the site has limited transit: CARTS provides county pickup service primarily on Mondays and connections to CapMetro exist at transfer locations. Roadway improvements along Paxton Road had been funded in a prior county bond (2017) and were estimated for completion by 2027 for certain segments; other improvements are phased.
Commissioners raised concerns about the long 75‑year tax exemption/affordability period and asked for a future work session to review approaches to preserving long‑term affordability and monitoring property condition over decades. Commissioner Gomez abstained from the final vote; the resolution passed with the remaining court members voting in favor.
What the resolution does: The PFC resolution authorizes TCFC to use the PFC mechanism to facilitate the project; it does not itself allocate county operating funds but triggers county review steps and required documentation in the state process under Local Government Code rules for PFCs.
Next steps: Staff will schedule a work session on long‑term affordability periods and property lifecycle monitoring, and TCFC/NRP will continue permitting and coordination with county staff; any final tax‑exemption instruments and project financing will proceed under state and county review processes.
