File #: 22-0708    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 4/8/2022 In control: City Council
On agenda: 4/19/2022 Final action: 4/26/2022
Title: Ordinance authorizing an affordable housing agreement for $160,560.00 between the Corpus Christi Business & Job Development Corporation (Type A) and the Corpus Christi Housing Finance Corporation and authorizing an affordable housing agreement for $1,191,871.00 between the Corpus Christi B Corporation (Type B) and the Corpus Christi Housing Finance Corporation for the construction 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; appropriating $160,560.00 from unreserved fund balance of the Business and Job Development Fund and $1,191,871.00 from the unreserved fund balance of the Type B Affordable Housing Fund; and amending the budget.
Sponsors: Neighborhood Services
Attachments: 1. Agenda Memo - Authorizing Type A and Type B ALMA at Greenwood Agreements v3, 2. Ordinance - Ordinance Authorizing Type A Type B ALMA at Greenwood, 3. CCBC Agmt CCHFC ALMA at Greenwood 04.11.pdf, 4. CCBJDC Agmt CCHFC ALMA at Greenwood 04.11.pdf, 5. 22 Legal and Liability Analysis 0407-11, 6. Presentation ALMA at Greenwood City Council 04.19.pdf

Title

Ordinance authorizing an affordable housing agreement for $160,560.00 between the Corpus Christi Business & Job Development Corporation (Type A) and the Corpus Christi Housing Finance Corporation and authorizing an affordable housing agreement for $1,191,871.00 between the Corpus Christi B Corporation (Type B) and the Corpus Christi Housing Finance Corporation for the construction 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; appropriating $160,560.00 from unreserved fund balance of the Business and Job Development Fund and $1,191,871.00 from the unreserved fund balance of the Type B Affordable Housing Fund; and amending the budget.