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File #:
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23-1409
Version:
1
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Name:
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Type:
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UPCOMING AGENDA ITEMS
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Status:
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Agenda Ready
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On agenda:
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5/22/2023
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Final action:
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Title:
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Authorize (1) a development loan agreement and security documents with TX Ferguson 2022, Ltd., or affiliate(s) thereof (Applicant) in an amount not to exceed $4,618,487.00 in HOME Investment Partnerships Program Funds, conditioned upon Applicant receiving 2023 4% Housing Tax Credit award for the development of mixed-income affordable multi-family senior living community known as Estates at Ferguson, located at 9220 Ferguson Road, Dallas, Texas 75228 (Property); (2) a development loan agreement and security documents with the City of Dallas Housing Finance Corporation (DHFC), or affiliate(s) thereof in an amount not to exceed $3,965,000.00 in Community Development Block Grant Disaster Recovery (CDBG-DR) Funds to purchase and own the Property; and (3) the DHFC to enter into a long-term ground lease with Applicant and/or its affiliate(s), for the development of the Property pursuant to 24 CFR 570.201(a) and (b) - Not to exceed $8,583,487.00 - Financing: HOME Investment Partnerships Funds...
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Authorize (1) a development loan agreement and security documents with TX Ferguson 2022, Ltd., or affiliate(s) thereof (Applicant) in an amount not to exceed $4,618,487.00 in HOME Investment Partnerships Program Funds, conditioned upon Applicant receiving 2023 4% Housing Tax Credit award for the development of mixed-income affordable multi-family senior living community known as Estates at Ferguson, located at 9220 Ferguson Road, Dallas, Texas 75228 (Property); (2) a development loan agreement and security documents with the City of Dallas Housing Finance Corporation (DHFC), or affiliate(s) thereof in an amount not to exceed $3,965,000.00 in Community Development Block Grant Disaster Recovery (CDBG-DR) Funds to purchase and own the Property; and (3) the DHFC to enter into a long-term ground lease with Applicant and/or its affiliate(s), for the development of the Property pursuant to 24 CFR 570.201(a) and (b) - Not to exceed $8,583,487.00 - Financing: HOME Investment Partnerships Funds ($4,618,487.00) and Community Development Block Grant Disaster Recovery Funds ($3,965,000.00).
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