Consider and take appropriate action on a request to approve tax-exempt (TEFRA) bond financing to be undertaken by the Travis County Facilities Corporation, for the Project currently known as Cameron Road Apartments. (Judge Brown & Commissioner Travillion)

Staff Report & Agenda Item Details

A request has been made seeking the Commissioners Court to consider approval for tax-exempt bond financing in accordance with the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), for the multifamily housing project currently known as Cameron Road Apartments (the “Project”). Under TEFRA, Section 147(f) of the Code of 1986, as amended, for the interest on qualified private activity bonds to be excluded from gross income for federal income tax purposes, approval is needed, following a public hearing, from the applicable elected representative of the governmental unit having jurisdiction over the area in which the Project is located.<br data-pasted="true">Travis County Facilities Corporation (the “Issuer”) is proposing to issue its multifamily housing revenue bonds in an aggregate principal amount not to exceed $50,000,000 (the “Bonds”) to finance the acquisition, construction and equipping of a proposed 336-unit residential housing development to be known as the Cameron Road Apartments to be located at approximately 4915 E. Yager Lane, Austin, Travis County, Texas 78754 (the “Property”) located within Travis County, Texas (the “County”) by Cameron Road Apartments Ltd.<br><br>On April 23, 2026, a notice of a public hearing with respect to the proposed issuance of the Bonds was published in the <em>Austin American-Statesman</em>. On May 4, 2026, the Issuer conducted the public hearing, via telephone, at which time an opportunity was provided to present arguments both for and against the issuance of the Bonds and the nature and location of the Property to be financed. <br><br><strong><u>Project Description</u></strong><br>As explained by the requestor, “This project will involve the construction of a new multifamily residential rental development to be known as the Cameron Road Apartments, which will feature amenities consistent with other Class A multifamily developments including a business center, 24/7 fitness center, swimming pool, children’s activity room, community room & kitchen, package concierge, children’s playground, co-working space and after school tutoring program. Units will have Class A finishes including granite countertops, modern cabinetry & flooring, energy-star appliances, and walk-in closets. The project will be subject to rent and income restrictions. Units will be available to individuals and families earning between 30% AMI and 70% AMI.”<br><br>The Cameron Road Apartments project, a collaboration between The NRP Group and the Housing Authority of Travis County (“HATC”), aims to create an affordable housing community in Northeast Travis County, offering 336 units (ranging from 30% to 70% AMI) across 12 three-story buildings that feature a variety of 1, 2, 3, and 4-bedroom floor plans.<br><br>Cameron Road is situated within 10 minutes of TX-130 and I-35. Nearby employers, among others, include Samsung, Applied Materials, and Dell.<br><br><strong><u>Distribution of Bedrooms Sizes of Units</u></strong><br>12 - 1 bdrm - $75