Cesar Chavez Foundation seeks city cooperation and letter of support for $20M renovation at Village at Meadow Bend; council asks for fiscal impact analysis

Representatives of the Cesar Chavez Foundation returned to the council workshop on March 6 seeking a cooperation agreement and council letter of support to help secure tax‑exempt bond financing and 4% low‑income housing tax credits to renovate the Village at Meadow Bend, a 237‑unit affordable housing complex in Temple.

Presenters identified themselves as Sam Solis (property manager), Tim Smith (financial adviser) and Antonio Williams (CEO, Texarkana Housing Authority). The foundation said the project will combine the entire property into a single 4% tax‑credit deal, complete site‑wide rehabilitation and address tornado damage with a total renovation budget the presentation described as close to $20 million. The property is on about 20 acres; the presenters said they hold units affordable in perpetuity and plan on in‑place relocation for residents during rehab to avoid motel placements where possible.

Current occupancy and vacancy

Presenters said the property has a high occupied rate when units taken out of service for renovations are excluded: roughly 94 percent occupancy excluding units held for rehab. The presentation said 13 units were vacant and 20 additional units were being held for relocation sequencing.

Council questions and staff requests

Council members asked about safety, fencing, gates and cameras, how the property screens and handles lease violations and evictions, and whether the renovation would address lighting, gates and trash/dumping issues. Presenters said the property is gated, that tornado damage had increased short‑term exposure (tarps and boarded windows), and that rehab plans include gates, repaired fencing and lighting. Presenters said they have contractors ready for roof and window repairs funded in part by an insurance settlement and that they have applied for bonds and tax credits with a projected closing in mid‑July 2025.

Council also asked staff about fiscal impact. Council members pointed out that the cooperation agreement and the structure the presenters seek would result in a property tax exemption change: the property currently has a 50 percent exemption and the requested cooperation could increase that exemption (presenters said the request would convert to a full 100 percent tax exemption under the proposed financing structure). Council members asked staff to prepare a fiscal impact analysis showing the city revenue effect of the exemption and other relevant fiscal consequences. Staff agreed to prepare that analysis and bring it back; the presenters agreed to return to a forthcoming workshop with the requested details. Council took no vote at the workshop and the item was held pending additional fiscal information.