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Affordable Housing: Land for $1, Down Payment Boost

Wednesday, February 26, 1997

  • Land for Affordable Homes:

    Approved the sale of two city-owned lots on East 15th Street to a community developer for just $1.00 each, specifically for building low-income housing.

  • Expanded Homeowner Aid:

    Allocated an additional $145,600 to expand the Down Payment Assistance Program, helping more people achieve homeownership in Travis County.
Transcript

Full Transcript

ahfc FINANCE CORPORATION Bruce Todd, President Gus Garcia, Vice President Ronny Reynolds, Director Jackie Goodman, Director Beverly Griffith, Director Daryl Slusher, Director Eric Mitchell, Director Jesus Garza, General Manager James E. Aldridge, Secretary Andrew Martin, General Counsel BOARD OF DIRECTOR'S MEETING AUSTIN HOUSING FINANCE CORPORATION MINUTES THURSDAY, FEBRUARY 26, 1997 The Board meeting of the Austin Housing Finance Corporation (AHFC) was convened. The following agenda items (set forth on the City of Austin Council Meeting agenda as items 12-14) were considered by the Austin Housing Finance Corporation's Board of Directors. 1. 2. 3. Approve the minutes of December 11, 1996, December 12, 1996, December 19, 1996, and January 16, 1997 board meetings. (item 12) AHFC Resolution No. 97-0226-01 was approved on Vice President Garcia's motion, Bord Member Goodman's second by a 7-0 vote. Approve a resolution authorizing the sale of lots 11 and 12 block 3 outlot 43, division b locally known as 11009 and 1011 East 15th street to Anderson Comminity Development Corporation for $1.00 each, for the purpose of developing low income housing under the SCIP 2 Program and authorize the general manager or his designee to execute a contract, deed and any other dcouments necessary to effect the sale. (related to item 11) (item 13) AHFC Resolution No. 97-0226-02 was approved on Vice President Garcia's motion, Board Member Slusher's second by a 7-0 vote. Approve a resolution amending the Austin Housing Finance Corporation budget by increasing the source of funds by $145,600 from the Travis County Housing Finance Corporation and increasing the use of funds for adminstering and funding the Travis County Down Payment Assistance Program, previously appred by this board, by $145,600. (item 14) AHFC Resolution No. 97-0226-03 was approved on Board Member Slusher's motion, Board Member Goodman's second by a 7-0 vote. The motion to adjourn the meeting was approved on Vice President Garcia's motion, Board Member Slusher's second by a 7-0 vote.