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Council hears update on Pecos Housing Finance Corporation’s out‑of‑town deals and local grant use
Summary
A council briefing outlined how the Pecos Housing Finance Corporation partners with developers, exempts rehabilitated property from property tax and reinvests a portion of returns into local grants; staff said HFC aims to close multiple deals statewide and has committed roughly $447,000 for local housing refurbishments so far.
A city representative briefed Pecos City Council on the operations and recent activity of the Pecos Housing Finance Corporation (HFC) during public discussion at the Feb. 13 meeting.
The speaker said the HFC partners with private developers and forms a limited liability company for each acquisition; because the HFC is frequently a partner and landowner, rehabilitated or newly developed properties can receive property tax exemptions under the current agreements. “A portion of that…
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