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Austin housing finance board approves $5.5 million ROTA loan for Foundation Communities
Summary
The Austin Housing Finance Corporation authorized a $5,500,000 loan to Foundation Communities' FC Bloom Housing through the ROTA program; the board adopted the consent agenda without objection and recorded an affordability extension from 40 to 41 years.
The Austin Housing Finance Corporation board authorized a $5,500,000 loan to Foundation Communities for the FC Bloom Housing project on March 12, 2026, approving staff to negotiate and execute the loan through the city's ROTA program.
Mandy DeMaio, Austin Housing Finance Corporation staff, presented the two-item agenda and described the loan, saying, "This is through the ROTA program." She told the board the loan reauthorization reflects application changes, an increase…
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