RBA AGENDA ITEM NO.: AHFC-1 AUSTIN HOUSING FINANCE CORPORATION AGENDA DATE: Thu 10/20/2005 RECOMMENDATION FOR BOARD ACTION PAGE: 1 of 1 SUBJECT: Approve the minutes of the September 29,2005 Board meeting of the Austin Housing Finance Corporation. AMOUNT & SOURCE OF FUNDING: N/A FISCAL NOTE: There is no unanticipated fiscal impact. A fiscal note is not required. REQUESTING Austin Housing Finance DIRECTOR'S DEPARTMENT: Corporation AUTHORIZATION: Paul Hilgers FOR MORE INFORMATION CONTACT: Paul Hilgers, Executive Director, Austin Housing Finance Corporation, 974-3108. PRIOR BOARD ACTION: N/a BOARD AND COMMISSION ACTION: N/A The minutes will be attached when thev become available. RCA Serial?/: 10069 Dale: lO-^O.-O? Original: Yes I'uMishcd: Fri 10/M/2QQ5 Disposition1. Adjusted version published flUSTIN HOUSING FINRNCE CORPORRTION BOARD OF DIRECTORS' MEETING AUSTIN HOUSING FINANCE CORPORATION SPECIAL CALLED MEETING MINUTES THURSDAY, SEPTEMBER 29, 2005 The Board of Directors of the Austin Housing Finance Corporation (AHFQ was convened on Thursday, September 29, 2005, in the Council Chambers of City Hall, 301 W. 2nd Street, Austin, Texas. The following were the AHFC items considered by the Austin Housing Finance Corporation's Board of Directors. President Wynn called the meeting to order at 3:08 p.m. AHFC-1 Approve the minutes of the August 4, 2005 Board meeting of the Austin Housing Finance Corporation. The minutes for the Austin Housing Finance Corporation meeting of August 4, 2005 were approved on Board Member Dunkerley's motion, Board Member McCracken's second on a 5-0 vote. Vice President Thomas and Board Member Leffingwell were off the dais. AHFC- 2 Approve a resolution approving the Fiscal Year 2005-2006 Austin Housing Finance Corporation Grant Operating Budget in the ajnount of $13,811,744 and Housing Assistance Fund Budget in the amount of $1,370,753 for a total budget of $15,182,497, directing staff to develop program guidelines for the named housing programs for Fiscal Year 2005-2006; and establishing administrative approval limits tor the General Manager. (The sources to fund the annual AHFC budgets include: (I) Grant Operating Budget-New Funding - $1,143,229 from the Housing Trust Fund; $37,824 from the City UNO-Housing Trust Fund; S830.474 from the City S.M.A.RT. Housing™ Capital Improvement Project Fund; $2,654,684 from HUD HOME Program Income; $806,259 from the HUD Community Development Block Grant revolving fund; $2,472,433 from the HUD Community Development Block Grant; 5204,041 from the HUD American Dream Down Payment Initiative: and $4,074,354 from the HUD HOME Investment Partnership Program. (2) Grant Operating Budget-Carry forward Funding - $433,912 from the S.M.A.R.T. Housing™ Capital Improvement Project Fund; and $1,154,534 from the HUD Community Development Block Grant, and (3) the AHFC Housing Assistance Fund-$1,370,753.) Resolution No. 20050929-AHFC002 was approved on Board Member Alvarez* motion. Board Member Kim's second on a 6-0 vote. Vice President Thomas was off the dais. AHFC- 3 Authorize the negotiation and execution of a one-year service agreement with the City in an amount not to exceed $15.182,497 to fund the Corporation's management and operation of various City housing programs in Fiscal Year 2005-2006, including Tenant Based Rental Assistance, Rental Housing Development Assistance. Architectural Barrier Removal-Rental, Homcbuyer Lending Assistance, Acquisition and Development, Architectural Barrier Removal-Homeowner, Emergency Home Repair, Homeowner Moderate Rehabilitation, and the Material Grants Program. (Funding sources for the service agreement include: (1) Grant Operating Budget-New Funding - $1,143,229 from the Housing Trust Fund; $37,824 from the City UNO-Housing Trust Fund; $830:474 from the City S.M.A.R.T. Housing'-4 Capital Improvement Project Fund; $2,654,684 from HUD HOME Program Income; $806,259 from the HUD Community Development Block Grant revolving fund; $2,472,433 from the HUD Community Development Block Grant; $204,041 from the HUD American Dream Down Payment Initiative; and $4,074,354 from the HUD HOME Investment Partnership Program, (2) Grant Operating Budget-Carryforward Funding - $433,912 from the S.M.A.R.T. Housing™ Capital Improvement Project Fund; and $1,154,534 from the HUD Community Development Block Grant, and (3) the AHFC Housing Assistance Fund - $1,370,753. Funding is subject to environmental review and fund release.) (Related Item 15) The motion authorizing the negotiation and execution of a service agreement was approved on Board Member Alvarez' motion, Board Member Uunkerley's second on a 6-Ovore. Vice President Thomas was off the dais. AHFC- 4 Approve the negotiation and execution of a 52,000,000 line of credit from WELLS FARGO BANK OF TEXAS, NA, to provide interim financing to develop infrastructure improvements to land owned by the corporation and to construct affordable housing units for sale to families earning less than 80 percent of the Austin median family income. The motion authorizing the negotiation and execution of a line of credit was approved on Board Member Kim's motion, President Wynn's second on a 5-0 vote. Vice President Thomas and Board Member Leffingwcll were off the dais. AHFC- 5 Approve the negotiation and execution of a loan to the BLACKLAND COMMUNITY DEVELOPMENT CORPORATION, Austin, TX, in compliance, with applicable federal regulations, including Code of Federal Regulations Title 24 Section 85.40 performance goals, under the Rental Housing Development Assistance Program in an amount not to exceed $152,180 to rehabilitate five rental housing units located in the Blackland neighborhood at 2008 A&B Chicon, 2012 A&B Chicon. and 2201 Salina Street. (Funding is available in the Fiscal Year 2004-2005 Austin Housing Finance Corporation budget allocation under the Rental Housing Development Assistance Program. Loan proceeds will consist of $5,000 in HOME-Community Housing Development Organization funds, and 5147,180 in Community Development Block Grant funds.) The motion authorizing the negotiation and execution of a loan was approved on Board Member McCrackcn's motion, Board Member Ounkcrley's second on a 6-0 vote. Vice President Thomas was off the dais. AHFC- 6 Approve the negotiation and execution of four 12-month price agreements in a combined total amount not to exceed $1,000.000 with GATZMEYER CONSTRUCTION, Austin, TX, RIATA ENTERPRISE, Austin, TX, ON CALL MANAGEMENT, Austin, TX, and SUNSTRIP, INC.. Austin, TX, and two 12-month extension periods in a combined total amount not to exceed $1,000,000 for each extension period for architectural barrier removal services for homes of persons with disabilities and elderly persons under the Architectural Barrier Removal Program. (Funding is available in Community Development Block Grant (CDBG) funds Year 29, 30 and ? 1 allocated in the Fiscal Year 2005-2006 budget of the Austin Housing Finance Corporation, and anticipated in CDBG grant fund Year 32 and 33 to be allocated in Fiscal Year 2006-2007, and 2007-2008 budgets of the Austin Housing Finance Corporation, subject to U.S. Department of Housing & Urban Development environmental review and fund release.) The motion authorizing the negotiation and execution of four price agreements was approved on Board Member Dunkerley's motion, Board Member McCracken's second on a 6-0 vote. Vice President Thomas was off the dais. The meeting was adjourned without objection at 3:21 p.m.