STRATEGIC PRIORITY: Housing & Homelessness Solutions
AGENDA DATE: December 13, 2023
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Majed Al-Ghafry
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SUBJECT
Title
Authorize an amendment to Resolution No. 23-0689, which previously authorized $4,618,487.00 in HOME Investment Partnership Funds (HOME) in a approved on May 24, 2023, to (1) authorize execution of one or more development loan agreement and security documents agreements with TX Ferguson 2022, Ltd., or affiliate(s) thereof (Applicant) and $3,965,000.00 in Community Development Block Grant Disaster Recovery Funds (CDBG-DR) in a development loan agreement and security documents with the City of Dallas Housing Finance Corporation or affiliate(s) thereof for the development of Estates at Ferguson, a 164-unit mixed-income affordable 2023 Non-Competitive 4% Housing Tax Credit (4% HTC) multi-family development for seniors to: (1) substitute the funding sources and amounts with Mixed Income Housing Development Bonus Fund (MIHDB), 2012 General Obligation Bond Fund Housing Demand Driven Projects Fund, and 2012 General Obligation Bond Fund Joppa Neighbor Project SD Fund; (2) substitute codes for notes receivables and interest payments for MIHDB Fund; and (3) substitute the funding source for the development loan agreement with the Dallas Housing Finance Corporation (DHFC), or an affiliate(s) thereof in an amount not to exceed $652,346.10 in Housing Development Fund (2012 General Obligation Bond Fund) and in an amount not to exceed $3,965,000.00 with Mixed Income Housing Development Bonus Fund 7,584,165.54 in Mixed Income Housing and Development Bonus Funds by modifying (a) the funding amount from $3,965,000.00 to $7,584,165.54 and source from 2022 Community Development Block Grant - Disaster Recovery (CDBG-DR) Funds to the Mixed Income Housing and Development Bonus Fund; and (b) the funding amo...
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