In plain language — from the agenda backup

This is a public hearing and resolution backing South First Affordable Partners' bid for 4% federal Housing Tax Credits to rehab a scattered-site affordable apartment development in the 78745 corner of South Austin, with sites near Turtle Creek Boulevard and Cougar Drive. The credits, paired with private activity bonds, would help fund fixing up existing affordable housing rather than building new — and a city nod can strengthen the application. Per the agenda, this item has no fiscal impact and approving it doesn't obligate the City to any funding.

The official agenda language

Conduct a public hearing and consider a resolution related to an application by South First Affordable Partners LP, or an affiliated entity, for 4% Non-Competitive Housing Tax Credits for the rehabilitation of a scattered-site multifamily housing development to be financed through the private activity bond program and to be known as South First Affordable Apartments, located at or near 714 Turtle Creek Boulevard, Austin, TX 78745 and 5609 Cougar Drive, Austin, TX 78745. This item has no fiscal impact. Approving this resolution does not constitute any obligation of the City with respect to funding. This resolution will support the applicant's application for federal Housing Tax Credits.

housing

The roll call

Agenda PDF Legistar Official votes