Austin Housing: $780K Loan Sparks Displacement Row
- The Austin Housing Finance Corporation (AHFC) board convened to approve several housing-related financial items.
- AHFC approved a controversial $780,000 loan for a fourplex at 3306 Vintage Hills Cove, intended to be funded by Project Connect anti-displacement funds.
- A community member strongly opposed the loan, arguing the anti-displacement funds were misapplied to an area not impacted by Project Connect and accused the corporation of fraud, stating they had reported AHFC to the IRS.
- Despite this public opposition and some board member dissent, all proposed items, including the $780,000 loan, were ultimately adopted by the board.
Full Transcript
Austin Housing Finance Corporation (AHFC) Transcript – 5/18/2023
Title: ATXN-1 (24hr) Channel: 1 - ATXN-1 Recorded On: 5/18/2023 6:00:00 AM Original Air Date: 5/18/2023 Transcript Generated by SnapStream ==================================
Please note that the following transcript is for reference purposes and does not constitute the official record of actions taken during the meeting. For the official record of actions of the meeting, please refer to the Approved Minutes. [10:54:39 AM]
I will recess the meeting of the Austin city council so that we may take up the board of directors meeting of the Austin housing finance corporation. And it's my understanding someone has signed up to speak on that. And so that's why I would like to do that. Is there any objection? Hearing no objection. The Austin city council regular meeting is recessed. I will now call to order the board of directors meeting of the Austin housing finance corporation. It is may 18th, 2023, at 1055 in the morning. We are meeting in the Austin city council chambers at
[10:55:39 AM]
Austin city hall and we have everyone present. Please good morning, Mr. President. Madam vice president, board of directors. My name is Jamie may. I'm the housing and community development officer for the housing department. Before you on your agenda, you have six items I can offer. Five on consent. With your permission, I'd like to take the non consent item first, please. This is to continue the public hearing that was opened at the last hfc board meeting. If you recall that public hearing was opened and not closed due to an advertising error. If we can continue that public hearing today, then we can move on to the rest of the items. If you'd like me to go over the rest of the items first, unless somebody else. But it's item number five five. Yes, sir. Members it's item number five that will not be on the consent agenda. I'll ask the same questions. Is there anyone that wishes to pull any of the items off of the consent agenda of this of this board of directors meeting? Is there
[10:56:41 AM]
anyone wishing to be shown recusing themselves from any of the items, anyone wishing to be shown abstaining on any of the items? Is there anyone wishing to be shown voting no on any of the items? Councilmember director Kelly thank you. I'd like to be shown as voting no on R.F.C. Three, four and six. Since five is no longer available to us. Thank you. Councilmember Kelly will be director Kelly will be shown as voting no on items three, four and six. It's the intention of the chair to take up the consent agenda by unanimous consent. Is there anyone objecting to the consent agenda as read with the no votes of three, four and six by director Kelly? Mr. President, if I may, please item number six cannot be voted on until the public hearing is concluded. Mayor I'll withhold my vote until after the public hearing. Well, that's probably best. I shouldn't have called it up. So. So do we not need to
[10:57:50 AM]
post that as a public hearing? The public hearing was posted and set for last meeting. At the last meeting we opened the public hearing, did not close it and continued it for this hearing so that we could advertise appropriately for that. Tefra since it has been advertised, we can continue. So five will have the public I now understand what you're telling me. Yes, sir. Okay. I'm sorry, members. The consent agenda will be item one, two, three and four. Shaw so I misread that. Is there anyone that wishes to. Is there any objection to the adoption of the consent agenda with council member Kelly being shown voting no on items three and four hearing none. The consent agenda is mayor. Yes, I apologize for interrupting, but we do have a caller on the line. And of course, that's why I went to this and then I forgot. All right. Go ahead. It's going to be a good day. We have Zenobia Joseph on R.F.C. Three. Ms.
[10:58:51 AM]
Joseph, thank you, mayor. Council yes. Please go ahead. Yes, mayor. Yeah, I just want to make sure you heard us. Please go ahead. Yes, mayor. Thank you, mayor. Council I'm Zenobia Joseph, speaking in opposition to Austin housing finance corporation. Item three, that is the item specifically related to the $780,000 loan agreement for a four plex at 3306 vintage hills cove and it will be funded with project connect anti-displacement funds. I just want to call to your attention. I am looking at section 394.002. The legislative findings are specifically related to preventing urban blight and also it talks about mass transportation. Ann. I want you to recognize that the government accountability office specifies fraud is trying to get something of value through willful misread presentation. I would ask you to
[10:59:52 AM]
table this item and recognize that there is no displacement going on in northeast Austin here where there is no project connect corridor to this develop men. I would also call your attention as a matter of transparency. At 10:18 A.M. This morning, I wrote to edict civil rights division at irs.gov and ask them to revoke your 500 and one. C three status for this particular corporation as you are aware, project connect serves the individuals primarily. Now in central and south Austin. It does not provide any service to the people north of us. 183 for 24 to 30 years and there is no service light rail to the people that are black in northeast Austin. So I want you to keep that in mind and I would just call to your attention as well. I didn't get the code from the clerk, but I did include in my documentation to the irs item number 24, which was the Sanders and wing marketing, because it
[11:00:54 AM]
also refers to your displacement outreach or the marketing, which is really just propaganda to I'll lastly, just call to your attention that in 2015 and 2016 capital metro did about 5000 surveys, 72% of the people who responded were white. They made a speaker. That concludes your time to two vehicles. Thank you. If you have any, I'll gladly answer them. Thank you. Thank you. All right. Items one one, two, three and four are on the consent agenda, with council member Kelly being shown voting no on items one, three, three and four. Is there any objection to the adoption of the consent agenda as it was just read, hearing none. The consent agenda is adopted. That will take us to item number five. I will. Without objection Ann. We will open the public hearing on item number five. Is there anyone signed up to speak in the public
[11:01:55 AM]
hearing on rfc five? We do not have any speakers on five. All right. Without objection, we will close the public hearing on item number five. Is there a motion to adopt item number five, councilmember Allison alter. Okay. Councilmember Allison alter moves to adopt it is seconded by councilmember harper- madison. Is there any objection to the motion to adopt item number five? Hearing none. Item number five is adopted. Item number six, the public hearing is currently open. Is there anyone signed up to speak on item number six? No we have no speakers on item six. Without objection, Ann. We will close the public hearing on item number six. Is there a motion to adopt item number six? It's made by director pool. Is there a second to the motion seconded by the vice president of the board ? Is there any objection to the adoption of item number six?
[11:02:56 AM]
Councilmember? I'd like to object. Director Kelly objects to that motion. Is there anyone else opposed to item number six? The motion is adopted with board director Kelly being shown voting no. Is there any other business to come before the Austin housing finance corporation board of directors? No, sir. Without objection, we will adjourn the meeting of the Austin housing finance corporation board of directors Luz.