AGENDA CAPTION:
Title
Consider approval of Resolution 2023-144R, approving the assignment of private activity bond authority to the Texas Department of Housing and Community Affairs; and containing other provisions relating to the subject; authorizing the mayor to execute the appropriate documents; and providing an effective date.
Body
Meeting date: September 5, 2023
Department: City Clerk's Office
Amount & Source of Funding
Funds Required: N/A
Account Number: Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
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Fiscal Note:
Prior Council Action: N/A
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Quality of Life & Sense of Place
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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Vision San Marcos - A River Runs Through Us
Background Information:
The Capital Area Housing Finance Corporation has applied to the Texas Bond Review Board for an allocation of private activity bond volume cap to facilitate a single-family mortgage origination program.
The Corporation intends to assign the Volume Cap Allocation to the Texas Department of Housing and Community Affairs ( "TDHCA") in connection with TDHCA' s single family mortgage revenue bond programs.
The Volume Cap Allocation, once assigned, will be used to provide a means of financing
single family home mortgages for residents in the Corporation 's jurisdiction.
Pursuant to the provisions of Section 1372.044 of the Te...
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