Dear Colleagues,
In anticipation of a potential direction our discussion tomorrow may take, I have gone ahead and drafted the following amendment to a sale resolution accepting the terms of the March 28th Hayden Glade Letter-of-intent.
Be it further resolved, within 60 days of adoption of this resolution, the Real Estate Committee of the SHFC Board of Directors ("the Real Estate Committee") will present the full Board a plan to use net proceeds from the sale of Rosemont - after covering debt associated with the property - towards a comprehensive tenant protection and housing affordability investment program ("The Program"). The Program will include but is not limited to: housing stability benefits for tenants, housing relocation services (e.g. support for an independent third-party relocator), and strategic investments in long-term affordability,
Be if further resolved, that the Real Estate Committee will pro-actively seek the input from the Neighbors at Rosemont in developing The Program,
Be it further resolved, upon adoption of this resolution, the EVP will communicate to relevant staff at the City of Austin, Travis County, the Housing Authority of the City of Austin of the development of the Program,
And be it further resolved, upon adoption of this resolution, the EVP will make reasonable efforts to request a joint meeting with relevant staff at the City of Austin, Travis County, the Housing Authority of the City of Austin, the Real Estate Committee, and representatives from BASTA and Neighbors at Rosemont to discuss the development of the Program.
I am happy to receive edits to this language that remain in the spirit of the amendment. Again, I am not certain our discussion will require the adoption of this amendment, but I want to be prepared in case it does.
