Consider and take appropriate action to consent to additional funding from other lenders related to Contract No.4400007106 with FC Juniper Creek Housing, LP related to the Juniper Creek Apartments SHIP Development. . (<em>This item may be taken into Executive Session under Government Code section 551.071, Consultation with Attorney exception</em>) (Commissioner Howard)

Staff Report & Agenda Item Details

As part of the Travis County Supportive Housing Initiative Pipeline (SHIP), Travis County made a loan to FC Juniper Creek Housing, LP (Subrecipient), in the amended and re-stated principal amount of $9,500,000.00, dated January 22, 2025, for the development of the Juniper Creek supportive housing project. The County Loan is secured by a first mortgage lien on the leasehold interest in the multifamily housing project. <sup data-pasted="true">1</sup><em> </em><br data-pasted="true"><br>The Subrecipient has requested the County to permit the following lenders (collectively, the “Subordinate Lenders”) to make certain subordinate loans to Subrecipient: <br><div style="margin-left:0in;" data-pasted="true"><ol style="list-style-type: lower-roman;margin-left: 1in;"><li style="margin-left:0in;">Federal Home Loan Bank of Dallas</li><li style="margin-left:0in;">Capital Magnet Fund</li></ol></div><br><sup data-pasted="true">1</sup><em> </em>(This item may be taken into executive session under the Consultation with Attorney exception, Texas Government Code §551.071)