June 1st, 2017

To approve the Fiscal Year 2017-2018 Annual Budget of Strategic Housing Finance Corporation, which includes total revenues of $2,024,500, total expenses of $993,440, and a provision for annual incentive pay of up to 3% of base salary for employees and 3.5-12.5% of base salary for the Executive Vice President, based on performance goals set by the SHFC Board.

To authorize Strategic Housing Finance Corporation to issue up to $25 million in taxable or tax-exempt governmental notes to provide construction financing for the proposed 264-unit Creekview Apartments affordable housing development in Austin. The notes would be issued under agreements where the development partnership would enter into loan payments to repay the notes.

To authorize TX Creekview Austin, LP to participate in development and operation of Creekview Apartments, including approving debt financing, equity financing, ground lease, and execution of related documents.

To authorize TX Creekview Austin GP LLC, as sole general partner of TX Creekview Austin, LP, to participate in developing the proposed 264-unit Creekview Apartments affordable housing project in Austin, including approval of financing, a ground lease, and execution of related agreements and documents.

To authorize Strategic Housing Finance Corporation's participation in developing the proposed 264-unit Creekview Apartments affordable housing project in Austin, including land acquisition, ground leasing, equity and bond financing, and execution of related agreements and documents.