Recommendation Number: (20260314-006): Support for Foundation Communities' Proposed Gap Financing for Mueller Development — original pdf

Recommendation

301 West Second Street Austin, TX 78701 BOARD/COMMISSION RECOMMENDATION Robert Mueller Municipal Airport Plan Implementation Advisory Commission Recommendation Number: (20260314-006): Foundation Communities Proposed Mueller Development WHEREAS, affordability and diversity in housing offerings is a community-determined and City Council Approved goal for the former Mueller Airport redevelopment; the Master Development Agreement (MDA) between the City of Aus(cid:415)n and Catellus/Banbury Development calls for “at least 25% of all housing” units at Mueller to be affordable; and the 25% goal is currently being met for all apartment units that are completed, constructed or contracted; and WHEREAS, Mueller’s MDA includes provisions for a limited number of "stand alone projects solely comprised of Affordable Housing units" to help meet the 25% goal, which currently includes the 201- unit Wildflower Terrace senior affordable complex, completed in 2012, the 240-unit Aldrich 51 workforce affordable complex, completed in 2018; and the 132-unit Jordan family affordable complex, completed in 2020; and WHEREAS, Founda(cid:415)on Communi(cid:415)es has proposed construc(cid:415)on of the Jordan II, a 66-unit family affordable complex across Philomena Street from The Jordan in order to share its management and tenant ameni(cid:415)es, aimed at families with children and offering a mix of 1, 2, 3 and 4-bedroom units, all priced to be affordable by families with incomes at or below 50% of Aus(cid:415)n’s Median Family Income; and WHEREAS, Founda(cid:415)on Communi(cid:415)es provided tes(cid:415)mony on the Jordan II, and on its three decades of experience in developing affordable housing for Aus(cid:415)n residents at the March 10, 2026 mee(cid:415)ng of the Robert Mueller Municipal Airport Plan Implementa(cid:415)on Advisory Commission; and WHEREAS, the construc(cid:415)on of the proposed Affordable Mul(cid:415)-Family Housing complex will support the greater Aus(cid:415)n community’s goal of crea(cid:415)ng and sustaining affordable housing citywide, including East Aus(cid:415)n and other central core neighborhoods; and WHEREAS, at its February 5, 2026 mee(cid:415)ng, the Aus(cid:415)n City Council approved its RESOLUTION NO. 20260205-034 in support of FC Jordan II Housing, LP and its applica(cid:415)on to the Texas Department of Housing and Community Affairs for 9% Low Income Tax Credits. NOW, THEREFORE, BE IT RESOLVED that the Robert Mueller Municipal Airport Plan Implementa(cid:415)on Advisory Commission encourages the Aus(cid:415)n City Council to con(cid:415)nue to support Founda(cid:415)on Communi(cid:415)es’ applica(cid:415)on and request for approximately $8 million in gap financing through a loan for the Jordan II affordable housing complex in Mueller. 512-974-2000 | austintexas.gov Date of Approval: 4/14/26 Mo(cid:415)oned By: Commissioner Sokolic Seconded By: Commissioner Hilliard Vote Count: 8-0 For: 8 Against: 0 Abstain: none Off the dias: none Absent: Commissioner Jackson A(cid:425)est: (Staff or Commissioner can sign) 512-974-2000 | austintexas.gov