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File #:
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25-1335A
Version:
1
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Name:
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Type:
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BRIEFING ITEMS
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Status:
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Agenda Ready
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On agenda:
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4/22/2025
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Final action:
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Title:
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Upcoming Items on the May 28, 2025 City Council Agenda: Authorize (1) the City Manager to negotiate and execute a development loan agreement and security documents with TX Illinois 2024, Ltd., an affiliate of Generation Housing Partners, LLC (together, the Applicant) in an amount not to exceed $2,980,000.00 in HOME Investment Partnerships Funds (HOME) , conditioned upon Applicant, or the entity named by the award, receiving 2024 4% Housing Tax Credit award or other funding source subject to approval of the City for the development of the Hiline at Illinois, a 200-unit multifamily housing complex located 4710 W Illinois Avenue, Dallas, Texas 75211 (Project); (2) the City Manager to negotiate and execute a development loan agreement and security documents with the Dallas Housing Finance Corporation (DHFC) or affiliate(s) thereof in an amount not to exceed $3,970,000.00 in Community Development Block Grant (CDBG) Funds to purchase and own the real property located at 4710 W Illinois Avenu...
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Attachments:
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1. Memorandum
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title
Upcoming Items on the May 28, 2025 City Council Agenda: Authorize (1) the City Manager to negotiate and execute a development loan agreement and security documents with TX Illinois 2024, Ltd., an affiliate of Generation Housing Partners, LLC (together, the Applicant) in an amount not to exceed $2,980,000.00 in HOME Investment Partnerships Funds (HOME) , conditioned upon Applicant, or the entity named by the award, receiving 2024 4% Housing Tax Credit award or other funding source subject to approval of the City for the development of the Hiline at Illinois, a 200-unit multifamily housing complex located 4710 W Illinois Avenue, Dallas, Texas 75211 (Project); (2) the City Manager to negotiate and execute a development loan agreement and security documents with the Dallas Housing Finance Corporation (DHFC) or affiliate(s) thereof in an amount not to exceed $3,970,000.00 in Community Development Block Grant (CDBG) Funds to purchase and own the real property located at 4710 W Illinois Avenue, Dallas, Texas 75211 (Property); and (3) approve the DHFC as long-term ground lessor of the property to enter into a long-term ground lease with Applicant and/or its affiliates(s) for the development of the Property pursuant to 24 CFR 570.201(a) and (b), subject to compliance with all funding source requirements
[Darwin Wade, Assistant Director, Department of Housing and Community Development]
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