Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Pecos council presses Housing Finance Corporation for transparency after HFC briefing
Summary
Council members and consultants described how the Pecos Housing Finance Corporation (PHFC) is using private capital to fund local home repairs and affordable-housing deals, while several council members asked for audits, closing statements and clearer communication after critical press coverage and pending litigation elsewhere.
The Pecos City Council heard an extended briefing May 8 from the Pecos Housing Finance Corporation on its programs and finances, and several council members pressed PHFC leaders for more documentation and faster, clearer communication.
PHFC Executive Director John Salcedo told the council that the corporation has “invested so far over $426,000 in essential repairs to dilapidated housing for Pecos,” focusing on life-and-safety work and accessibility modifications for low- and moderate-income residents. He said the repair program is funded with private capital, that about 30 additional applications are pending, and that the PHFC intends to pursue multifamily repairs and further partnerships locally.
The briefing drew sustained questions about a financing structure sometimes called the “traveling HFC” model, which consultants said is used by several Texas housing finance corporations. Sebastian Barrajal of Convergence Housing Group, a…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
