1. Authorize negotiation and execution of a loan agreement in an amount not to exceed $2 million to DMA DEVELOPMENT COMPANY, LLC, or an affiliated entity, for the acquisition of property within the Robert Mueller Municipal Airport Redevelopment on the west side of Aldrich Street, between Barbara Jordan Boulevard and East 51st Street for a mixed-income, multi-family rental development to be known as Aldrich 51. Related to Item #2. 2. Approve a resolution authorizing the formation of AHFC ALDRICH 51 NON-PROFIT CORPORATION, a Texas non-profit corporation and instrumentality of the Austin Housing Finance Corporation; approving its certificate of formation, articles of incorporation, and by-laws; and appointing its board of directors and president. Related to Item #1. 3. Approve negotiation and execution of a loan agreement in the amount of $385,000 to AUSTIN HABITAT FOR HUMANITY, INC., or an affiliated entity, to provide funding for the construction of 11 homes to be sold to low-income buyers in the Lee Meadows Subdivision. 4. Conduct a public hearing and receive public comment regarding the issuance of up to $16 million dollars of Austin Housing Finance Corporation Multi-family Housing Revenue Bonds to finance the rehabilitation of the CROSS CREEK APARTMENTS, located at 1124 Rutland Drive, to be owned and operated by TMG-TX Austin II, LP, a single-purpose limited partnership affiliated with The Mulholland Group, Whitestone, New York. 5. Conduct a public hearing and receive public comment regarding the issuance of up to $20 million dollars of Austin Housing Finance Corporation Multi-family Housing Revenue Bonds to finance the development of the ALDRICH 51 APARTMENTS, located in the Robert Mueller Municipal Airport Redevelopment on the west side of Aldrich Street between Barbara Jordan Boulevard and East 51st Street, a mixed-income multi-family development to be owned and operated by DMA Housing II, LLC., a single-purpose limited liability company affiliated with Diana McIver and Associates, Austin, TX.
Apr 23, 2015 Austin Housing Finance Corporation
1. Authorize negotiation and execution of a loan agreement in an amount not to exceed $2 million to DMA DEVELOPMENT COMPANY, LLC, or an affiliated entity, for the acquisition of property within the Robert Mueller Municipal Airport Redevelopment on the west side of Aldrich Street, between Barbara Jordan Boulevard and East 51st Street for a mixed-income, multi-family rental development to be known as Aldrich 51. Related to Item #2. 2. Approve a resolution authorizing the formation of AHFC ALDRICH 51 NON-PROFIT CORPORATION, a Texas non-profit corporation and instrumentality of the Austin Housing Finance Corporation; approving its certificate of formation, articles of incorporation, and by-laws; and appointing its board of directors and president. Related to Item #1. 3. Approve negotiation and execution of a loan agreement in the amount of $385,000 to AUSTIN HABITAT FOR HUMANITY, INC., or an affiliated entity, to provide funding for the construction of 11 homes to be sold to low-income buyers in the Lee Meadows Subdivision. 4. Conduct a public hearing and receive public comment regarding the issuance of up to $16 million dollars of Austin Housing Finance Corporation Multi-family Housing Revenue Bonds to finance the rehabilitation of the CROSS CREEK APARTMENTS, located at 1124 Rutland Drive, to be owned and operated by TMG-TX Austin II, LP, a single-purpose limited partnership affiliated with The Mulholland Group, Whitestone, New York. 5. Conduct a public hearing and receive public comment regarding the issuance of up to $20 million dollars of Austin Housing Finance Corporation Multi-family Housing Revenue Bonds to finance the development of the ALDRICH 51 APARTMENTS, located in the Robert Mueller Municipal Airport Redevelopment on the west side of Aldrich Street between Barbara Jordan Boulevard and East 51st Street, a mixed-income multi-family development to be owned and operated by DMA Housing II, LLC., a single-purpose limited liability company affiliated with Diana McIver and Associates, Austin, TX.