Consider and take appropriate action to approve an alternate loan package, including<strong id="isPasted"> </strong>Lender's Title Policy issuance and/or waiver for the benefit of Mobile Loaves and Fishes, Inc. related to Contract No.4400006882 and the Burleson Village project. (<em>This item may be taken into Executive Session under Government Code section 551.071, Consultation with Attorney exce

Staff Report & Agenda Item Details

Travis County has committed over $117,000,000 to boldly address homelessness and catalyze the development of deeply affordable housing and build a pipeline of supportive housing units. The Supportive Housing Initiative Pipeline (SHIP) LFRF-ARPA allocation, as set out in the subaward with Mobile Loaves & Fishes (MLF), provides support for the development of 640 new units of supportive housing. This project has been under development since the summer of 2023, secured by a Leasehold Deed of Trust and Land Use Restriction Agreement (LURA) for the principal amount of $35,000,000. This amount was secured by a Lender's Title Policy issuance in the full loan amount. <br id="isPasted"> <br>On December 20, 2024, Travis County Commissioners Court approved Amendment/Modification #2 to Subaward for Affordable Housing for the Homeless between the County and Mobile Loaves & Fishes, Inc., providing for an additional $1,000,000 for the project. Action on 11/18/25 and 12/2/25 approved the amended loan documents regarding the same $1,000,000. Since then, County HHS and Attorney's office has been pursuing securing the new loan amount of $36,000,000 with Mobile Loaves & Fishes and Title Company. <br><br>In order for the Title company to issue title insurance, a new policy must be issued in the amount of $36,000,000.  This policy will receive a credit for a portion of the amount already paid, but not the entirety of what was paid, leaving MLF with additional costs for that policy.  MLF is requesting an alternate loan package, including Lender's Title Policy issuance and/or a waiver, in order to reduce the costs and impact of the title policy issuance. <br><br>HHS is requesting this item be taken into Executive Session under Government Code section 551.071, Consultation with Attorney exception before action is taken.