File #: 22-0712    Version: 1 Name:
Type: Corporation Meeting Status: Filed with the City Secretary
File created: 4/8/2022 In control: City Council
On agenda: 4/19/2022 Final action: 4/19/2022
Title: Special Board Meeting of the Corpus Christi Housing Finance Corporation to consider a proposal to participate as General Partner in the Greenwood Manor, LP and as ground lessor, to consider accepting a total of $1,352,431 from the Corpus Christi Business & Job Development Corporation (Type A) and Corpus Christi B Corporation (Type B), and to consider making a loan of $481,483 from Corpus Christi Housing Finance Corporation funds and $1,352,431 from the Corpus Christi Business & Job Development Corporation (Type A) and Corpus Christi B Corporation (Type B)  to Greenwood Manor, LP. Greenwood Manor, LP will be the ownership entity of ALMA at Greenwood a 152-unit affordable rental housing project for households at or below 60 percent of the area median income located on 10.554 acres on the southeast corner of Greenwood Drive and Gollihar Road east of West Point Road.
Sponsors: Neighborhood Services
Attachments: 1. Agenda Memo - CCHFC Board Meeting for 04.19.2022 v2, 2. Agenda CCHFC Annual Meeting 041922, 3. Minutes - CCHFC January 25 2022, 4. CCHFC Financials as of 2.28.2022, 5. Agreement with CCBJDC Type A, 6. Agreement with CCBC Type B, 7. 22 Legal and Liability Analysis 0407-11, 8. Presentation ALMA at Greenwood CCHFC 04.19.pdf

Title

Special Board Meeting of the Corpus Christi Housing Finance Corporation to consider a proposal to participate as General Partner in the Greenwood Manor, LP and as ground lessor, to consider accepting a total of $1,352,431 from the Corpus Christi Business & Job Development Corporation (Type A) and Corpus Christi B Corporation (Type B), and to consider making a loan of $481,483 from Corpus Christi Housing Finance Corporation funds and $1,352,431 from the Corpus Christi Business & Job Development Corporation (Type A) and Corpus Christi B Corporation (Type B)  to Greenwood Manor, LP. Greenwood Manor, LP will be the ownership entity of ALMA at Greenwood a 152-unit affordable rental housing project for households at or below 60 percent of the area median income located on 10.554 acres on the southeast corner of Greenwood Drive and Gollihar Road east of West Point Road.