Austin Housing Finance Corporation adopts consent agenda approving loan agreements and organizational amendment for affordable housing projects
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Summary
The Austin Housing Finance Corporation unanimously adopted a four-item consent agenda including loan authorizations for projects in Districts 1, 2 and 4 and an organizational amendment; one public commenter raised civil-rights and transit equity concerns.
The Austin Housing Finance Corporation board on Monday adopted a four-item consent agenda, approving several loan agreements and an amendment to a nonprofit corporation's certificate of formation without objection.
Mandy DeMaio, interim director of the City of Austin Housing Department and treasurer of the Austin Housing Finance Corporation, presented the consent items and recommended they be adopted on consent. The items included: authorization to enter a loan agreement of approximately $7,700,000 to support a 38-unit affordable homeownership development in District 2 with Industry ATX; an amendment to the certificate of formation for AHFC Drazie Willow Nonprofit Corporation; authorization to enter a loan agreement for just over $4,000,000 with the Austin Area Urban League to support an 80-unit permanent supportive housing project in District 1 (backed by 80 project-based vouchers from the Housing Authority of the City of Austin and supported by Travis County); and a $4,000,000 loan agreement with Greystar Development for the St. John’s redevelopment on the former Home Depot site in District 4, a project planned for 526 units with 106 units at or below 50% of area median family income and new commercial space and park expansion.
The board offered all four items on consent. Board members discussed high-level policy questions about prioritizing ownership versus rental production and the city’s forthcoming work to update and implement recommendations from a Guidehouse review of AHFC programs. Board member Alter asked about balancing ownership and rental investments given per-unit costs; DeMaio said AHFC balances multiple priorities outlined in the strategic housing blueprint and noted an upcoming February item to implement GuideHouse recommendations and to increase transparency of funding sources and underwriting.
Board member Vela praised the St. John’s item as the last financing piece needed for a large mixed-income project that includes commercial space and park expansion. Council member Harper-Madison asked for clarification on which entity would steward the community land trust for the District 2 project; DeMaio said AHFC maintains a community land trust (Austin CLT) and will partner with Industry ATX for the 38 units, adding that AHFC currently holds about 50 CLT units and expects to more than double that through several projects.
During public comment, Zenobia Joseph spoke about civil-rights and transit equity concerns. Joseph cited Title VI of the Civil Rights Act of 1964 and the Fair Housing Act, urged the board to consider past reversion language in St. John’s project backup material, and raised access-to-transit issues near the District 1 project site on FM 969. “It is disingenuous to continue to use income as a proxy for race discrimination,” Joseph said, and asked officials, including City Manager Chito Vela, to review project history and transit access.
A motion to adopt the consent agenda was made by the vice president of the board, seconded by board member Alter. The board chair called for any recusal, abstention or votes against the items; seeing none, the chair announced the consent agenda was adopted without objection. The board adjourned its meeting at 1:50 p.m.
Votes at a glance
- Industry ATX / District 2 community land trust: authorization to enter loan agreement, approximately $7,700,000 — adopted on consent, no roll-call vote recorded. - Amendment to certificate of formation for AHFC Drazie Willow Nonprofit Corporation — adopted on consent, no roll-call vote recorded. - Austin Area Urban League / District 1 permanent supportive housing: authorization to enter loan agreement, just over $4,000,000; project includes 80 efficiency/one-bedroom units and 80 project-based vouchers — adopted on consent, no roll-call vote recorded. - Greystar / St. John’s redevelopment (former Home Depot site) District 4: authorization to enter loan agreement, $4,000,000; project planned for 526 units with 106 units at or below 50% AMI, commercial space and park expansion — adopted on consent, no roll-call vote recorded.
The meeting record indicates the board approved the items as a block; no individual roll-call tallies were read into the record for the consent agenda items.