Million Dollar Housing Fund Boost
Major Housing Investment:
The Austin Housing Finance Corporation (AHFC) Board approved over $1 million in federal HOME funds for Phase 3 of the "Scattered Cooperative Infill Housing Program" (SCIP 3). This initiative aims to build new, community-focused homes on available lots within existing neighborhoods.Budget Adjustment:
This significant housing investment required an amendment to the AHFC's 1993-94 budget to integrate the new funds.Efficient Session:
The meeting was brief, concluding in just 19 minutes, indicating a streamlined decision-making process for these key housing initiatives.
Full Transcript
MINUTES OF THE AUSTIN HOUSING FINANCE CORPORATION BOARD OF DIRECTOR'S MEETING May 26, 1994 The meeting was called to order at 5:00 p.m. Present: Bruce Todd, Gus Garcia, Jackie Goodman, Michael "Max" Nofziger Ronney Reynolds Absent: Brigid Shea Agenda Item No. 40 (1) Approve Minutes of April 7, 1994 meeting. Motion The Board, on Board Member Garcia's motion and Board Member Goodman's second approved the resolution on a 5-0-0 vote with Board Member Shea out of the room. of Agenda Item No. 41 (2) Approve acceptance of a loan in the amount $1,040,000 in HOME year 2 funds from the City of Austin and enter into an agreement to develop and construct the Scattered Cooperative Infill Housing Program Phase 3 (SCIP 3) and amend the 1993-94 Austin Housing Finance Corporation budget. (Funding is available in the Special Revenue Fund for the HOME year 2 Program of the Planning and Development Department.) Motion The Board, on Board Member Garcia's motion and Board Member Goodman's second approved the resolution on a 5-0-0 vote with Board Member Shea out of the room. The meeting was adjourned at 5:19 p.m.