City of Dallas - File #: 23-2372

• File #: 23-2372
• Version: 1
• Type: BRIEFING MEMORANDUM
• Status: Agenda Ready
• File created: 9/11/2023
• In control: Housing and Homelessness Solutions Committee
• On agenda: 9/19/2023
• Title: Upcoming Agenda Item: Authorize (1) the approval of the City Council of the City of Dallas, to act as the applicable elected representative, as defined by Section 147(f)(2)(E) of the Internal Revenue Code of 1986, as amended (Code), of the issuance of multifamily residential mortgage revenue bonds (Bonds) issued by the City of Dallas Housing Finance Corporation (DHFC or Issuer) in one or more series of tax-exempt bonds in an amount not to exceed $25,000,000.00; proceeds of the Bonds will be loaned to TX Ferguson 2022, LTD to finance a portion of the cost of the renovation of units for an affordable multifamily complex to be known as Estates at Ferguson and located at 9220 Ferguson Road, Dallas, Texas (Development); and (2) the approval of the application of the Texas Housing Finance Corporations Act, Chapter 394, Local Government Code (Act), to the property on which the Development will be constructed and the use of proceeds of the bonds issued by the DHFC pursuant to the Act to financ...

Upcoming Agenda Item: Authorize (1) the approval of the City Council of the City of Dallas, to act as the applicable elected representative, as defined by Section 147(f)(2)(E) of the Internal Revenue Code of 1986, as amended (Code), of the issuance of multifamily residential mortgage revenue bonds (Bonds) issued by the City of Dallas Housing Finance Corporation (DHFC or Issuer) in one or more series of tax-exempt bonds in an amount not to exceed $25,000,000.00; proceeds of the Bonds will be loaned to TX Ferguson 2022, LTD to finance a portion of the cost of the renovation of units for an affordable multifamily complex to be known as Estates at Ferguson and located at 9220 Ferguson Road, Dallas, Texas (Development); and (2) the approval of the application of the Texas Housing Finance Corporations Act, Chapter 394, Local Government Code (Act), to the property on which the Development will be constructed and the use of proceeds of the bonds issued by the DHFC pursuant to the Act to finance and construct the Development; a public hearing with respect to the Bonds and the Development was held on September 14, 2022 after reasonable public notice was published in a newspaper of general circulation in the City of Dallas all in compliance with Section 147(f) of the Code - Financing: No cost consideration to the City [David Noguera, Director, Department of Housing & Neighborhood Revitalization]