Austin housing finance board adopts 11 consent items including loans for Ada Anderson Place and Verbena Flats
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Summary
The Austin Housing Finance Corporation board on April 9 approved 11 consent items on a single motion, authorizing multiple loans and amendments for ownership and rental housing projects across Austin and increasing funds for local voucher administration.
The Austin Housing Finance Corporation board met April 9 at City Hall and, without objection, adopted 11 consent items that authorize loans, a capital contribution, a property conveyance and an amendment to the local housing voucher administration agreement.
Nicole Joslin, housing and community development officer for Austin Housing, presented the consent docket and described the projects and funding sources. "All of these items are offered on consent," Joslin said as she reviewed eleven items that include ownership and multifamily developments in multiple council districts.
The board authorized a loan not to exceed $6,400,000 for an ownership development to be known as Ada Anderson Place (5712 Jackie Robinson Street) and a conveyance of a parcel near Tannehill Lane for the same project; both items were described as funded with 2022 general obligation (GO) bonds and located in District 1. The board also approved a loan not to exceed $8,000,000 for Verbena Flats at 1017 West Slaughter Lane (District 5) using 2022 GO bonds.
Other approvals included: smaller loans to the Guadalupe Neighborhood Development Corporation (including a $150,000 loan for ownership housing at 806 Vargas Road and a $135,000 CHDO-funded loan for a project at 3124 Father Joe Zenotas); a $4,700,000 loan to Austin Habitat for Humanity for Goodnight Ranch (District 2); a $4,950,000 loan for South First Affordable Apartments, a scattered-site acquisition/renovation using a mix of 2018 and 2022 GO bonds (District 2); and an amended loan adding $300,000 for Sasha LP, bringing that loan to a total not to exceed $8,795,000 (District 3).
The board also authorized a $2,500,000 capital contribution from AHFC Central Housing Nonprofit Corporation to Central Housing LP to repay part of seller financing for The Preserve at Central Park (6008–6010 North Lamar Boulevard). Joslin said that contribution would use Project Connect funds and that the Preserve includes 108 units with a share maintained as deeply affordable.
On the voucher program, Joslin asked the board to amend the agreement with the Housing Authority of the City of Austin to administer the AHFC local housing voucher program, increasing the amount by $6,000,000 for an initial 12-month term with up to two 12-month renewals; the transcript lists the resulting total agreement amount as not to exceed "$20,000,000 or $21,756,091." The item was presented as bringing additional resources to permanent supportive housing and continuum-of-care efforts.
Boardmember Siegel thanked staff and singled out Item 6 and Item 11. "It's not easy to maintain deeply affordable properties like this, so I'm thankful for Austin Housing to work on that," Siegel said, and noted that Item 11 supports more than 350 units of permanent supportive housing and continuum care.
The mayor pro tem moved to approve the consent agenda as read; the motion was seconded by Councilmember Siegel and adopted without objection. The chair noted Boardmember Velasquez was absent. The meeting was adjourned at 10:38 a.m.
The approvals proceed on consent; specific loan documents and implementation steps were delegated to staff for negotiation and execution as described in the agenda materials.
