Austin Housing Finance Corporation board approves Sunset Ridge nonprofit formation and policy change on consent; public speaker raises affordability and opacity

The Austin Housing Finance Corporation board on July 24 approved four consent items that authorize the formation of an AHFC-affiliated nonprofit to develop the Sunset Ridge housing project and a policy change that would list nonprofit board members by title rather than by name.

Mandy DeMaio, Austin Housing Finance Corporation staff, told the board the items authorize AHFC to proceed with formation of “AHFC Sunset Ridge Non profit Corporation,” approve AHFC ownership in the Sunset Ridge development — an approximately 444-unit property in District 8 on Southwest Parkway — allow AHFC to act as the general contractor and approve a new policy under which nonprofit boards would be identified by title rather than by individual names. The board adopted the package as a consent agenda, moved by Board Member Ellis and seconded by the Mayor Pro Tem, and the board chair said the agenda was adopted “without…