Authorize negotiation and execution of a loan agreement and related documents with South First Affordable Partners LP, or an affiliated entity, in an amount not to exceed $4,950,000 for a multifamily rental development to be known as South First Affordable Apartments, a scattered-site project, located at or near 714 Turtle Creek Boulevard, Austin, Texas 78745 and 5609 Cougar Lane, Austin, Texas 78745. Funding: Funding in the amount of $4,950,000 is available in the Fiscal Year 2025-2026 Capital Budget of the Austin Housing Finance Corporation using $3,559,827 from 2018 General Obligation Bonds and $1,390,173 from 2022 General Obligation Bonds.
26-1405 · Consent · Passed