Pharr board approves 4% bond application and resolution to seek private activity bonds for Astra Villas

The board voted to approve a 4% bond application and adopt a resolution authorizing staff to apply to the Texas Bond Review Board for private activity bond allocation to finance Astra Villas, a proposed senior multifamily housing development.

The actions occurred under agenda items 3(c) and 3(d). For item 3(c) the board approved “a proposed 4% bond application for a senior multifamily housing project for Astra Villas.” For item 3(d) the board approved “a resolution declaring intent to issue bonds or notes to provide financing for a multifamily residential rental development for persons of low and moderate income, Astra Villas,” and authorized filing an application for allocation of private activity bonds with the Texas Bond Review Board. Each action was approved on a voice vote; the meeting record shows an “Aye” and the chair stated the motions passed. The transcript does not record a roll-call tally or any substantive discussion on the merits of the project.

The transcript does not specify dollar amounts, specific bond terms, or timelines for the Texas Bond Review Board application. The resolution (agenda 3(d)) directs staff to file the allocation application; the transcript records only that the motion was approved and does not record any condition, amendment, or deadline. Next procedural steps and any later financing terms were not specified in the meeting record.

The board took the votes during the same meeting that approved other routine business; no public testimony or substantive debate about Astra Villas is recorded in the provided transcript excerpt.