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Presentation, discussion, and possible action regarding the Issuance of Multifamily Housing Revenue Bonds (Braniff Lofts) Series 2026, Resolution No. 27-002 and a Determination Notice of Housing Tax Credits
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RECOMMENDED ACTION
recommendation
WHEREAS, the Board adopted an inducement resolution for Braniff Lofts at the Board meeting of October 10, 2024;
WHEREAS, an application for Braniff Lofts requesting 4% Housing Tax Credits, sponsored by Sycamore Strategies, LLC and the PWA Coalition of Dallas INC, was submitted to the Department on June 5, 2026;
WHEREAS, in lieu of a Certification of Reservation, a Carryforward Designation Certificate from the Texas Bond Review Board (BRB) was issued on January 6, 2025, and will expire on December 31, 2027; and
WHEREAS, staff recommends approval of the issuance of Multifamily Housing Revenue Bonds for Braniff Lofts (Series 2026) and the issuance of a Determination Notice;
NOW, therefore, it is hereby
RESOLVED, that the issuance of Multifamily Housing Revenue Bonds (Braniff Lofts) Series 2026, in the amount of $20,000,000, Resolution No. 27-002, is hereby approved in the form presented to this meeting;
FURTHER RESOLVED, the issuance of a Determination Notice of $1,425,586 in 4% Housing Tax Credits for Braniff Lofts, subject to underwriting conditions that may be applicable as found in the Real Estate Analysis report posted to the Department’s website, is hereby approved in the form presented to this meeting; and
FURTHER RESOLVED, that if approved, staff is authorized, empowered, and directed, for and on behalf of the Department to execute such documents, instruments and writings and perform such acts and deeds as may be necessary to effectuate the foregoing.
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BACKGROUND
General Information: The Multifamily Housing Revenue Bonds will be issued in accordance with Tex. Gov’t Code §2306.353 et seq., which authorizes the Department to issue bonds for its public purposes, as defined therein. Tex. Gov’t C...
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