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Rowlett Council authorizes legal action, urges state response to out-of-jurisdiction housing finance corporations
Summary
After an executive session, the Rowlett City Council authorized hiring outside counsel to pursue legal options against housing finance corporations that buy multifamily properties in Rowlett and seek tax-exempt status.
The Rowlett City Council on May 6 authorized the city manager to retain the law firm of David Iglesias to provide legal services related to housing finance corporations (HFCs) that purchase properties inside Rowlett and seek tax-exempt status. The council also approved a separate resolution objecting to HFC development outside sponsoring jurisdictions and urged a responsive opinion from the Texas attorney general.
Council authorized the legal engagement in open session after a closed executive session on legal advice. Councilmember Britton moved to authorize the city manager to execute the engagement with the Iglesias firm; the motion was seconded and carried, 5–0.
May…
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