FILED FOR RECORD
11/17/2015 1:30 PM
Dana Debeauvoir - County Clerk, Travis County,TX
Special Voting Session Item 1
Travis County Commissioners Court Agenda Request
Meeting Date: November 17, 2015
Agenda Language:
Consider and take appropriate action on a Public Hearing related to the issuance of
Multifamily Housing Revenue Bonds (West Gate Ridge Apartments) Series 2015
Prepared By/Phone Number: Karen Thigpen, Assistant Corporations Manager, 8544743
Elected/Appointed Official or Department Head: Jessica Rio, County Executive,
Planning and Budget
Commissioners Court Sponsor(s): Commissioner Gerald Daugherty
Background/Summary of Request and Attachments:
This item is the TEFRA hearing, which is required for the issuance of Multifamily
Housing Revenue Bonds for West Gate Ridge Apartments. The backup includes the
notice posted in the Austin American Statesman.
Staff Recommendations:
Staff recommends approval
Issues and Opportunities:
Additional information is provided in the backup.
Fiscal Impact and Source of Funding:
Source of funding is Housing Revenue Bonds, which are conduit debt thought the
Housing Finance Corporation and represent no direct fiscal impact on Travis County.
Required Authorizations:
Planning and Budget Office
Jessica Rio
AGENDA REQUEST & BACKUP MATERIALS DEADLINE: Agenda requests and backup materials
must be submitted in PDF format via email to [email protected] by 12 noon on Tuesday in
order to be considered for inclusion in the following week’s voting session.
MEMORANDUM
from
William C. Blount
(512) 807-2454
Fax (512) 474-1901
E-mail: [email protected]
TO:
Travis County Judge and Commissioners
DATE:
November 10, 2015
RE:
Public Hearing Related to Issuance of Multifamily Housing Revenue Bonds
(West Gate Ridge) Series 2015 by Travis County Housing Finance
Corporation
Agenda Date:
November 17, 2015
This item is for the County to hold a public hearing for the financing of the acquisition and
construction of the West Gate Ridge apartments to be located at 8700 West Gate Boulevard,
Austin, Texas 78745 by Travis County Housing Finance Corporation.
The principal amount of the Bonds is an amount not to exceed $19,000,000.
This matter is on the Travis County agenda because a public hearing to be held by the
county is part of the process required for TEFRA (Internal Revenue Code) purposes in order for
the bonds to be issued as tax-exempt. Attached to this memo is an affidavit of publication for the
publication of the notice of the public hearings
Please give me a call if you have any questions or require any additional information
regarding this matter before Tuesday.
cc:
Andrea Shields
Karen Thigpen
{03645582.DOC / }
COUNTY JUDGE’S APPROVAL
The undersigned hereby certifies that I am the duly elected County Judge of Travis
County, Texas and that I am elected at large. The Commissioners Court of Travis County,
Texas, held a public hearing on November 17, 2015 at 1:30 p.m., at the Travis County
Commissioner’s Courtroom, 700 Lavaca, First Floor, Austin, Texas 78701, regarding a tax
exempt bond financing to be issued in the maximum amount of $19,000,000 by the Travis
County Housing Finance Corporation for the benefit of Pedcor Investments-2015-CXLVIII, L.P.,
a Texas limited partnership, or its successors or assigns (the “Borrower”) and that [no one
attended this hearing other than Cliff Blount].
The purpose of the financing is to make a loan to Pedcor Investments-2015-CXLVIII,
L.P., a Texas limited partnership, or its successors or assigns (the “Borrower”), to finance a
portion of the cost of the acquisition, construction, financing and equipping of an approximately
146-unit affordable rental housing development to be known initially as West Gate Ridge
Apartments (the “Project”). The Project will be located at 8700 West Gate Boulevard, Austin,
Travis County, Texas 78745. The initial owner, operator or manager of the Project is expected to
be the Borrower. The Project is being co-developed by the Corporation and Pedcor Investments,
A Limited Liability Company, a Wyoming limited liability company, and its affiliates.
NO TAXES OR OTHER PUBLIC FUNDS WHATSOEVER ARE TO BE USED TO
REPAY THIS FINANCING AND THE FINANCING DOES NOT CONSTITUTE AN
OBLIGATION OF TRAVIS COUNTY, TEXAS OR ANY OTHER PUBLIC ENTITY
WHATSOEVER.
Acting in my capacity as the County Judge of Travis County, Texas I hereby approve the
financing to be issued by the Travis County Housing Finance Corporation as referred to above,
and the Project. This approval is given with the express understanding that neither the financing
nor the Project shall impose any liability whatsoever on Travis County, Texas.
_____________________________________
Sarah Eckhardt
County Judge
Travis County, Texas
Date: _________________, 2015
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