Woodward St Property Transfer & Bond Payoff
- The Austin Housing Finance Corporation approved the transfer of a land use and regulatory agreement for a property located at 701 Woodward Street.
- A key condition for approval was ensuring that all financial bonds associated with the property would be fully paid off at the time of closing.
- This decision aimed to protect the city's financial interests during the property transfer and was passed unanimously.
Full Transcript
Austin Housing Finance Corporation Regular Meeting Session Transcript – 12/13/2018
Title: City of Austin Description: 24/7 Channel: 6 - COAUS Recorded On: 12/13/2018 6:00:00 AM Original Air Date: 12/13/2018 Transcript Generated by SnapStream ==================================
>> Mayor Adler: It is 11:59, quorum is present. You want to take us through our agenda. >> Rosie truelove, treasurer of Austin housing financing. One item for consideration today, consent to the transport of a land use and regulatory agreement to [indiscernible] For the property located at 701 Woodward street and I offer it on consent. >> Mayor Adler: Is there a motion to approve this? Mayor pro tem makes that motion. Is there a second to that? I need a second. Councilmember alter seconds that. Mayor pro tem, do you want to address it? >> Tovo: Yes. It's my understanding there's a recommendation from staff that -- or there was an explanation from staff that we could move -- that we consent to the transfer if the bonds are paid off at closing just to make certain that those bonds will be paid off at closing. So I would just add as a friendly amendment that we consent to the transfer with the understanding that the bonds will be paid off at closing.
[12:00:11 PM]
Does that accomplish that objective? >> Yes, it does not. >> Mayor Adler: You're okay with that amendment? >> Yes. >> Mayor Adler: Hearing no objection that amendment is added. Moved and seconded. Any discussion. Let's vote on this item. Those in favor please raise your hand. Those opposed. Unanimous on the dais again with councilmember Renteria off. With that at noon I -- >> Thank you. >> Mayor Adler: -- Adjourn the meeting of the Austin housing finance corporation.