October 15th, 2019

To authorize Strategic Housing Finance Corporation to issue up to $30 million in tax-exempt multifamily housing revenue bonds to provide financing for the acquisition and rehabilitation of the proposed 304-unit Terrace Cove Apartments located at 6201 Sneed Cove in Austin, with 20% of units reserved for tenants at or below 50% AMFI and 90% of units reserved at or below 120% AMFI. The bonds would be issued under agreements where the ownership entity would enter into loan payments to repay the bonds.

To authorize Strategic Housing Finance Corporation to issue up to $26 million in tax-exempt multifamily housing revenue bonds to provide financing for the acquisition and rehabilitation of the proposed 260-unit Club at Summer Valley Apartments located at 744 W. William Cannon Drive in Austin, with 20% of units reserved for tenants at or below 50% AMFI and 90% of units reserved at or below 120% AMFI. The bonds would be issued under agreements where the ownership entity would enter into loan payments to repay the bonds.

To approve a $400,000 deposit with Lone Star National Bank to secure a loan from the bank to Housing Authority of Travis County for the rehabilitation of Eastern Oaks Apartments, and to authorize execution of related security documents including an assignment of deposit account.

To approve a $184,698.71 loan to SEA RAD GP LLC, the general partner of SEA RAD LP, to fund a change order needed to complete the rehabilitation of the Alexander Oaks and Summit Oaks multifamily properties owned by the Housing Authority of Travis County and ground leased to the partnership.

To authorize Strategic Housing Finance Corporation to issue up to $38 million in tax-exempt multifamily housing revenue bonds to provide construction financing for the proposed 300-unit Yager Lane Apartments affordable housing development to be located at 4818 East Yager Lane in Manor, with 100% of units reserved for tenants at or below 60% AMFI. The bonds would be issued under agreements where the development partnership would enter into loan payments to repay the bonds.