Consider and take appropriate action on a request to modify the loan agreement from $1,920,000 with Austin Habitat for Humanity, Inc. for the construction of 48 affordable homes to $1,940,000, restricted to those earning 80% or less than the area median income with an affordability period of 99 years, for homeownership in Whisper Valley as part of the Jimmy and Rosalynn Carter Work Project. (Commi

Staff Report & Agenda Item Details

On January 28, 2025, the Travis County Commissioners Court directed EDSI to utilize available funding sources and begin urt negotiations with Austin Habitat for Humanity for a contract totaling $1,920,000.<br><br>On November 7, 2025, the Travis County's Commissionrs Court approved a loan totaling $1,920,000 to Austin Habitat for Humanity to support the build of 48 sustainable, affordable homes for homeownership in the Whisper Valley master-planned development in eastern Travis County (Precinct 1, 9400 Petrichor Boulevard Manor, TX 78653). These single-family homes will be three and four bedrooms and will be sold at an affordable cost (starting at $230,000) to families earning up to 80% of the annual median income for the area. All the homes built by Habitat for Humanity will include a 99-year affordability covenant, ensuring these homes will stay affordable to families below 80% annual median income. <br><br>As Austin Habiat for Humanity readies to close on the initial sixteen homes built in the first grouping in the next 3–4 months, additional costs were identified due to unexpected delays totaling $20,000. The CEPC recommends increasing the existing loan by $20,000 to offset the unanticipated costs.<br><br>The modifications to the loan documents are under review and will be added to the back up when final.  The only terms being changed is the dollar amount of the loan and the amount forgiven per home over the life of the loan.<br><br>