San Antonio City Council Ordinance 86465
Effective: 8/20/97 – Through: 5/31/23
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WHEREAS, the Texas Housing Finance Corporations Act, Chapter 394, Texas Local Government Code, as amended (the “Act”), authorizes the City Council, upon receipt of a proper application requesting such action, to authorize and approve the creation and organization of a housing finance corporation to act on behalf of the City of San Antonio, Texas (the “City”), for the purposes of the Act; and
WHEREAS, the Act authorizes any such non-profit corporation thus created to issue obligations on behalf of the City; and
WHEREAS, pursuant to the Act, not fewer than three natural persons, each of whom is at least 18 years of age, a resident of the City, and a citizen of the State of Texas, have filed with the City Council their written application (the “Application”) requesting that the City authorize and approve the creation of the San Antonio Housing Trust Finance Corporation under the Act to act on behalf of City; and
WHEREAS, the City Council has found and determined that all prerequisites of law have been satisfied and that the application has been signed by not fewer than three properly qualified natural persons; and
WHEREAS, the City Council by this Ordinance intends to take all steps necessary and prerequisite to the creation of the San Antonio Housing Trust Finance Corporation (the “Corporation”); and
WHEREAS, in accordance with Article 5190.9a, V.A.T.C.S., as amended and section 141(d)(l)(B) of the Internal Revenue Code of 1986, as amended, the Corporation is required to file an Application for Allocation of Private Activity Bonds with the Texas Bond Review Board in order to issue bonds to finance the purchase of qualifying home mortgage loans for single family homes located within the jurisdiction of the Corporation; and
WHEREAS, it is hereby determined that it is in the best interests of the citizens of the City of San Antonio to authorize and approve the execution and submission of an Application for Allocation of Private Activity Bonds to the Texas Bond Review Board for calendar years 1997 and 1998; and
WHEREAS, this meeting is open to the public as required by law, and public notice of the time, place, and purpose of this meeting was given as required by Chapter 551, Texas Government Code; and
WHEREAS, the Corporation must be created on or about August 22, 1997 in order to meet the deadline for filing the 1997 Application for Allocation of Private Activity Bonds, which is prior to the passage of ten (10) days, and for this reason the Council deems it necessary that this ordinance, upon passage with at least eight (8) affirmative votes, become effective at once; NOW THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN ANTONIO:
SECTION 1. The findings and declarations contained in the preambles of this Ordinance are incorporated herein as part of this Ordinance.
SECTION 2. This City Council hereby finds and determines that it is advisable and in the public interest and benefit that a corporation, to be named the “San Antonio Housing Trust Finance Corporation” (the “Corporation”), be authorized and created with the powers granted in the Act to act on behalf of the City as its duly constituted authority and instrumentality for the public purposes defined in the Act.
SECTION 3. The Articles of Incorporation (the “Articles”) and the Bylaws for the Corporation are hereby approved in substantially the form attached hereto as Exhibit “A” and Exhibit “B,” respectively, and the incorporators thereof are hereby authorized to file the Articles with the Secretary of State in accordance with the Act.
SECTION 4. Those persons named in the Articles, each of whom on the date of his appointment is duly qualified in accordance with the Act, are hereby appointed to serve as the initial members of the Board of Directors of the Issuer, such service to be at all times subject to the powers of the City under the Act and the Articles.
SECTION 5. Any and all bonds, notes, or other similar obligations issued by the Corporation shall contain a provision, condition, or recital substantially to the effect that they shall never be deemed to be or create an indebtedness or liability or a special, general or moral obligation payable out of any funds of the City and that they shall be payable solely out of funds and properties of the Corporation pledged thereto.
SECTION 6. It is intended that the Corporation be a duly constituted authority and instrumentality of the City within the meaning of regulations and revenue rulings of the Treasury Department of the Internal Revenue Service of the United States promulgated under sections 103 and 115 of the Internal Revenue Code of 1986, as amended.
SECTION 7. The City Council hereby authorizes and approves the execution and submission by the Corporation of an Application for Allocation of Private Activity Bonds to the Texas Bond Review Board for calendar years 1997 and 1998.
SECTION 8. All resolutions and ordinances, or parts thereof, in conflict with this Ordinance are hereby repealed to the extent of such conflict.
SECTION 9. Pursuant to and solely for the purpose of complying with Article II, Section 15 of the City’s Charter, this ordinance is hereby passed as an emergency measure, to be effective immediately upon enactment, such emergency being that the corporation must be formed prior to the passage of ten (10) days from the date this Ordinance becomes effective in order to meet the filing deadline for Application of Allocation of Private Activity Bonds for the preservation of public peace, property, health, or safety.
SECTION 10. This Ordinance shall be effective immediately if at least eight (8) members of the City Council vote in the affirmative for its passage; otherwise, this ordinance shall be effective on ten (10) days following its passage.
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TX Statute 2306.201 Housing Trust Fund
Effective: 6/18/09 – Through: 5/31/23
(a) The housing trust fund is a fund:
(1) administered by the department through the housing finance division; and
(2) placed with the Texas Treasury Safekeeping Trust Company.
(b) The fund consists of:
(1) appropriations or transfers made to the fund;
(2) unencumbered fund balances;
(3) public or private gifts, grants, or donations;
(4) investment income, including all interest, dividends, capital gains, or other income from the investment of any portion of the fund;
(5) repayments received on loans made from the fund; and
(6) funds from any other source.
(c) The department may accept gifts, grants, or donations for the housing trust fund. All funds received for the housing trust fund under Subsection (b) shall be deposited or transferred into the Texas Treasury Safekeeping Trust Company.
San Antonio City Council Ordinance 67895
Effective: 9/7/88 – Through: 5/31/23
WHEREAS, the City of San Antonio has made a commitment to improve, expand and safeguard housing in its inner city and downtown neighborhoods, with particular emphasis on housing programs and opportunities for those of low and moderate income; and
WHEREAS, the quality of housing and livability of neighborhoods directly affects the economic growth potential and vitality of the City as a whole; and
WHEREAS, housing is an essential element of this city’s efforts to revitalize and renew its downtown; and
WHEREAS, certain areas of the City of San Antonio are blighted and not participating in the city’s prosperity; and
WHEREAS, the neighborhoods left behind continue to deteriorate due to the lack of private sector investment and revitalization activities, and if efforts are not made to strengthen and support all neighborhoods, others will fall into neglect; and
WHEREAS, based on 1980 requirements, a large majority afford the cost of the average resale home; and Census income data and mortgage of San Antonio’s households cannot new home or the median price of a
WHEREAS, the lack of affordable housing for lower income families is reaching a crisis; and
WHEREAS, limited public resources require that government dollars for housing programs be highly leveraged by private investment; and
WHEREAS, while it is recognized that public funds will be needed for housing programs, it is deemed that such sources of funds shall not include a transfer tax paid by sellers of real property at closing, interest on escrow accounts or increased permit fees for remodeling, development and inspection; and
WHEREAS, in many areas throughout the City of San Antonio there is a shortage of decent, safe and sanitary buildings for residential purposes, and that any shortage of housing, private ownership or rental, most greatly impacts those citizens with the least ability to acquire the necessary capital to rectify the shortage; NOW, THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN ANTONIO:
That the City Manager shall establish the “City of San Antonio Housing Trust,” which trust shall be established in the form and manner of the attached Declaration of Trust; and that, subject to approval by the City Council, the Housing Trust hereby is authorized to accept and expend any and all funds contributed to it consistent with the purposes of the Declaration of Trust attached hereto and filed herewith.
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TX Statute 2306.202 Use of Housing Trust Fund
Effective: 6/18/09 – Through: 5/31/23
(a) The department, through the housing finance division, shall use the housing trust fund to provide loans, grants, or other comparable forms of assistance to local units of government, public housing authorities, nonprofit organizations, and income-eligible individuals, families, and households to finance, acquire, rehabilitate, and develop decent, safe, and sanitary housing. In each biennium the first $2.6 million available through the housing trust fund for loans, grants, or other comparable forms of assistance shall be set aside and made available exclusively for local units of government, public housing authorities, and nonprofit organizations. Any additional funds may also be made available to for-profit organizations provided that at least 45 percent of available funds, as determined on September 1 of each state fiscal year, in excess of the first $2.6 million shall be made available to nonprofit organizations for the purpose of acquiring, rehabilitating, and developing decent, safe, and sanitary housing. The remaining portion shall be distributed to nonprofit organizations, for-profit organizations, and other eligible entities. Notwithstanding any other section of this chapter, but subject to the limitations in Section 2306.251(c), the department may also use the fund to acquire property to endow the fund.
(b) Use of the fund is limited to providing:
(1) assistance for individuals and families of low and very low income;
(2) technical assistance and capacity building to nonprofit organizations engaged in developing housing for individuals and families of low and very low income; and
(3) security for repayment of revenue bonds issued to finance housing for individuals and families of low and very low income.
TX Statute 2306.203 Rules Regarding Administration of Housing Trust Fund
Effective: 6/18/09 – Through: 6/30/22
The board shall adopt rules to administer the housing trust fund, including rules providing:
(1) that the division give priority to programs that maximize federal resources;
(2) for a process to set priorities for use of the fund, including the distribution of fund resources in accordance with a plan that is developed and approved by the board and included in the department’s annual report regarding the housing trust fund as described in the General Appropriations Act;
(3) that the criteria used to evaluate a proposed activity will include the:
(A) leveraging of resources;
(B) cost-effectiveness of the proposed activity; and
(C) extent to which individuals and families of very low income are served by the proposed activity;
(4) that funds may not be made available for a proposed activity that permanently and involuntarily displaces individuals and families of low income;
(5) that the board attempt to allocate funds to achieve a broad geographical distribution with:
(A) special emphasis on equitably serving rural and nonmetropolitan areas; and
(B) consideration of the number and percentage of income-qualified families in different geographical areas; and
(6) that multifamily housing developed or rehabilitated through the fund remain affordable to income-qualified households for at least 20 years.
San Antonio Ordinance 2021-06-10-0444. APPROVING AMENDMENTS TO THE DECLARATION OF TRUST AND FINAL RULES AND REGULATIONS FOR THE CITY OF SAN ANTONIO HOUSING TRUST
Effective: 6/9/21 – Through: 5/31/23
WHEREAS, the San Antonio Housing Trust (“Trust”) was established by the City Council through Ordinance 67895 on September 8, 1988 and the Final Rules and Regulations for the Operation of the San Antonio Housing Trust were approved by City Council through Ordinance No. 70722; and
WHEREAS, on September 23, 2004 City Council approved revisions to the Declaration of Trust and the Final Rules and Regulations for the Operation of the San Antonio Housing Trust through Ordinance No. 99800; and
WHEREAS, in 2019 City Council commissioned a third-party assessment of the Trust and based on the recommendations of the consultant has determined that certain changes to the governance structure and operations of the Trust should be made; and
WHEREAS, the Board of Trustees of the Trust adopted Resolution T2 l-0527-4 on May 27, 2021 approving the amendments to the Declaration of Trust and Rules and Regulations for the Operation of the Trust to, in part, restructure the composition of the Board of Trustees and to make other changes consistent with the recommendations of the consultant; and
WHEREAS, the Declaration of Trust and the final Rules and Regulation for the Operation of the San Antonio Housing Trust require all amendments made thereto to be approved by City Council; NOW THEREFORE:
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN ANTONIO:
SECTION 1. The Declaration of Trust and the Final Rules and Regulations for the Operations of the San Antonio Housing Trust are hereby amended as provided in Attachments I and II which are attached hereto and incorporated herein for all purposes.
SECTION 2. Resolution No. T21-0527-4 passed and approved on May 27, 2021 by the Board of Trustees of the San Antonio Housing Trust revising the Declaration of Trust and the Final Rules and Regulations for the Operations of the San Antonio Housing Trust is approved. A copy of said resolution is attached hereto and incorporated herein for all purposes as Attachment III.
SECTION 3. This Ordinance is effective immediately upon the receipt of eight affirmative votes; otherwise, it is effective ten days after passage.
PASSED-AND APPROVED oh this 10th day of June, 2021.
TX Statute 2306.204 Independent Audit of Housing Trust Fund
Effective: 8/31/93 – Through: 5/31/23
(a) An independent auditor shall annually conduct an audit of the housing trust fund to determine the amount of unencumbered fund balances that is greater than the amount required for the reserve fund.
(b) The independent auditor shall submit the audit report to the board not later than December 31 of each year.
TX Statute 2306.205 Transfer of Money to Housing Trust Fund
Effective: 8/31/97 – Through: 5/31/23
(a) Except as provided by Subsections (c), (d), and (e), not later than January 10 of each year the housing finance division shall transfer to the housing trust fund an amount, as determined by the audit report prepared under Section 2306.204, equal to one-half of the housing finance division’s unencumbered fund balances in excess of two percent of the division’s total bonded indebtedness that is not rated on its own merits in the highest long-term debt rating category by one or more nationally recognized rating agencies.
(b) The department shall determine the unencumbered fund balance under Subsection (a) according to the debt rating criteria established for housing finance agencies by one or more nationally recognized rating agencies.
(c) If, at the time an annual audit required by Section 2306.204 is concluded, the housing finance division’s unencumbered fund balances exceed four percent of its total bonded indebtedness that is not rated on its own merits in the highest long-term debt rating category, the department shall transfer not later than January 10 of the next year all amounts in excess of that four percent.
(d) If, at the time an annual audit required by Section 2306.204 is concluded, a nationally recognized rating agency has recommended that the housing finance division maintain unencumbered fund balances in excess of the amount permitted by Subsection (a) to achieve or maintain a rating of at least Aa/A+ on all or a portion of the bonded indebtedness of the housing finance division that is issued under an open indenture or an open flow of funds, the department shall transfer not later than January 10 of the next year all amounts in excess of the amount required by the rating agency to be held as unencumbered fund balances.
(e) If, at the time an annual audit required by Section 2306.204 is concluded, a nationally recognized rating agency has recommended that the housing finance division increase the amount of its unencumbered fund balances to achieve or maintain a financially sound condition or to prevent a decrease in the long-term debt rating maintained on all or a portion of the housing finance division’s bonded indebtedness, the housing finance division may not make further annual transfers to the housing trust fund until all requirements and conditions of the rating agency have been met.
(f) In addition to the money transferred into the housing trust fund under this section, and subject to Subsection (e), the department shall transfer into the fund the amount of any origination fee, asset oversight fee, and servicing fee the department or the Texas State Affordable Housing Corporation receives in relation to the administration of its 501(c)(3) bond program established pursuant to Section 2306.358 that exceeds the amount needed by the department or the Texas State Affordable Housing Corporation to pay its operating and overhead costs and fund reserves, including an insurance reserve or credit enhancement reserve established by the board in administering the program.
San Antonio Ordinance 2021-06-10-0444. ATTACHMENT I
Effective: 6/9/21 – Through: 5/31/23
FIRST AMENDED AND RESTATED DECLARATION OF TRUST CITY OF SAN ANTONIO HOUSING TRUST
The City Manager of the City of San Antonio hereby declares that they have received on behalf of the City of San Antonio Housing Trust (“Trust”), One Dollar ($1.00) from a donor, whose name, together with the names of all other donors to this Trust and the amounts contributed by each, shall be kept by him as Trustees as part of the Trust’s permanent records, and that he shall hold said contribution and all other amounts paid to them hereunder, for uses and purposes, and subject to the duties and powers herein set forth.
ARTICLE I NAME AND PURPOSE
Section 1.1 Name
The Trust shall be known as the City of San Antonio Housing Trust. Its principal office and address shall be: Office of the Finance Director, City of San Antonio, P.O. Box 839966, San Antonio, Texas 78283-3966. Administrative offices of the Trust may be designated by resolution of the Board of Trustees, upon the approval of City Council, for the operation of the Trust at such offices or addresses as the Board of Trustees and City Council deems appropriate for the efficient and effective administration of the Trust.
Amended by Resolution No. 89-1 IOI (November 30, 1989) and approved by Ordinance No. 70730 (December 7, 1989)
Section 1.2 Purpose
It is established that the primary purposes and goals of this Trust are to create and preserve housing that is primarily affordable, accessible, attainable, and/or sustainable to residents within the City of San Antonio, Texas; and to support community development efforts that build and sustain neighborhoods, empower residents, and provide for equitable outcomes.
All Trust property, including trust funds, and all earnings, principal and income of trust funds (such funds may sometimes hereinafter be referred to as “Trust Funds”) shall be used to support the primary purposes as follows:
(a) To furnish administrative, management, financial and other advice, support, training and technical assistance to the Board of Trustees, San Antonio City Council, other housing related boards and commissions, affordable housing focused non-profit and/or community-based organizations to enable them to develop necessary skills and resources;
(b) To conduct research, studies, analysis in regarding economic, social issues, or other matters that may further the purposes of the Trust;
(c) To conduct educational and other efforts;
(d) To fund raise or accept cash contributions or other contributions of value such as land and property, or other assets through private or public sources;
(e) To provide for the acquisition and disposition of assets that may further the purposes of the Trust;
(f) To provide grants, contributions, guarantees, loans, commitments, investments, and/or otherwise other lawful forms of financial assistance to accomplish the primary purposes of the Trust;
No part of the Trust investment proceeds, property, or other asset of the Trust may inure to the benefit of any individual, unless directed by the Board of Trustees in support of the specific and public purpose of the Trust.
This Trust shall not operate for the purpose of carrying on a trade or business for profit.
This Trust shall not take part in any political campaign on behalf of any candidate for public office, and no portion of the Trust funds shall be expended on any attempt to influence legislation.
ARTICLE II
DISTRIBUTION AND USE OF TRUST FUNDS
Section 2.1 Method
Notwithstanding any other article, term or provision of this declaration of trust or any other governing documents including but not limited to any bylaws, resolutions, rules and regulations or articles of incorporation, to the contrary, all grants, contributions, guarantees, loans, investments, commitments and/or otherwise lawful forms of financial assistance distributed with Trust Funds, or any portion thereof, shall be made upon a majority vote of the Trustees and upon final review and approval by the City Council.
Section 2.2 Distributable Amount
The Trustees may grant, contribute, guarantee, loan, invest, commit, and/or otherwise provide other lawful forms of financial assistance with all available principal, interest, and investment revenues as the Trustees in their discretion may deem to be in the best interest of the Trust.
Section 2.3 Purposes of Distributions
All distributable amounts of the Trust shall be made only for the purposes set forth in Article I of this Declaration of Trust.
Section 2.4 Methods of Disbursements
Funds for projects may be disbursed to individuals and private or public, profit or not-for profit development entities, in the form of grants, secured loans or in such other manner as the Trustees may deem necessary and appropriate to accomplish the purposes of the Trust. Prior to accepting any request for funds_. the Trustees shall develop written rules and regulations and any amendments thereto, and shall obtain City Council approval. . A copy of such rules and regulations and amendments, if any, shall be filed with the City Clerk of the City of San Antonio.
Section 2.5 Limitation
The Trustees shall not engage in any activity and shall not disburse any funds, except in a manner consistent with the requirements of the Internal Revenue Code of 1954, as amended (the “Code”), or any similar provisions of subsequent revenue acts as they may pertain to entities organized and operating exclusively for charitable purposes, and in a manner consistent with the laws of Texas.
ARTICLE III BOARD OF TRUSTEES
Section 3.1 Composition
The activities, affairs, property, and powers of the Trust will be managed, directed, controlled, or exercised by and vested in the Board of Trustees. The Trust may designate a principal officer or employee to serve as the assistant secretary of the Board of Trustees, in the absence of the Secretary of the Board of Trustees, to record the proceedings of meetings and other activities of the Trust and maintain records, books, documents, and paper produced or filed with the Trust.
The number of Trustees shall be twelve (12), consisting of five (5) Trustees, each of whom during his or her term as Trustee is a current member of the City Council of the City (the “City Council Trustees”), six (6) Trustees (the “Community Trustees”) and one (1) nonvoting, advisory Managing Trustee as detailed in Section 3.5, each of whom is a resident of the City . The Board of Trustees shall be and is divided into two (2) classes designated: Class I and Class II, which shall be chosen by the drawing of straws by the Trustees Class I shall consist of two (2) City Council Trustees and three (3) Community Trustees and Class II shall consist of three (3) City Council Trustees, three (3) Community Trustees and one (1) Managing Trustee. In case of any increase or decrease, from time to time, in the number of Trustees, the number of Trustees in each class shall be apportioned as nearly equal as possible. Each Trustee shall serve for a term of four (4) years; provided, that each Trustee initially appointed to Class I shall serve for an initial term of two (2) years and each Trustee initially appointed to Class II shall serve for an initial term of four (4) years; provided further, that if a City Council Trustee is no longer a member of the City Council of the City, such individual shall be deemed to have resigned from the Board of Trustees of the Trust. Furthermore, any member of the Board of Trustees of the Trust may be removed from office at any time, with or without cause, by written resolution of the City Council of the City; provided, that in no event shall the number of City Council Trustees be less than three (3).
City Council Trustees shall be nominated by the Mayor of the City, Community Trustees shall be nominated by the Governance and Policy Committee, and the Managing Trustee shall serve as detailed in 3.5. All Trustees shall be confirmed and appointed by written ordinance of the City Council of the City. Three (3) of the Community Trustees shall have prior experience in housing advocacy, non-profit fundraising, policy making, community engagement, or reside in a low to moderate income housing unit. Three (3) of the Community Trustees shall have experience in real estate, financial underwriting, property development, housing finance, capital markets, lending, construction, property management, or other relevant housing industry experience. The Trustees shall serve without compensation except that they may be reimbursed for their actual expenses incurred in the performance of their duties hereunder.
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ARTICLE IV ACCOUNTS
The Managing Trustee shall submit to the Board on an annual basis an account of the Trust prepared by an independent certified public accountant and shall submit copies thereof to the City Council. Said account shall be the result of an independent audit. Such annual account shall be published and available to the public. The trust may charge the public a nominal fee for copies of the annual account.
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San Antonio Ordinance 2021-06-10-0444. ATTACHMENT II
Effective: 6/9/21 – Through: 5/31/23
FIRST AMENDED AND RESTATED FINAL RULES AND REGULATIONS FOR THE OPERATION OF THE SAN ANTONIO HOUSING TRUST
Statement of Rules and Regulations
These Rules and Regulations prescribe the standards and procedures for operating the Trust, for evaluating applications to the Trust for funding awards, and for ensuring that the funds are used exclusively for the purposes of this Trust. These Rules and Regulations are promulgated by the Board of Trustees, upon City Council approval, under the authority and responsibility granted to the Trustees by the Declaration ofTrust. These provisions are subject to the Declaration of Trust, any conditions for the award of funds to the Trust by other entities, and any applicable federal, state, or local laws and regulations.
Administrative Offices and Correspondence
All correspondence and notices regarding the San Antonio Housing Trust should be mailed or delivered to the Secretary of the Board of Trustees, located at:
Secretary of the Board of Trustees
San Antonio Housing Trust
Attn: Executive Director
1215 Blanco Road
San Antonio TX 78212
Definitions
Affordable Housing shall be defined by City of San Antonio Council Ordinance. If the City of San Antonio does not have a current local ordinance defining Affordable Housing, it shall be defined as follows:
1. Rental housing units reserved for tenants whose rents and income do not exceed the 80% of the Area Median Income by bedroom size for rent and income limits established annually by the U.S. Department of Housing and Urban Development regulations or guidance.
2. Owner occupied housing units are improved for residents whose incomes do not exceed the 80% of the Area Median Income by bedroom size for income limits established annually by the U.S. Department of Housing and Urban Development regulations or guidance.
3. For sale housing units sold to homebuyers whose incomes do not exceed 120% of the Area Median Income by bedroom size for income limits established annually by the U.S. Department of Housing and Urban Development regulations or guidance and whose sales prices are affordable to where the household is not cost burdened based on a 31% front end ratio maximum and 43% backend ratio maximum.
Sponsor shall be defined as any individual or organization that submits a proposal for Trust Assistance, assumes responsibility for processing the proposal, has the authority to make contracts and intends to execute an Agreement of Trust Assistance.
Policy Development
The Board of Trustees shall establish an affordable housing funding policy prior to issuing a Notice of Funding Availability (NOFA) for the review and selection of projects, programs, or initiatives. The policy shall remain in effect until the Board of Trustees establishes a new policy. This policy should be reviewed and considered at least every five (5) years to ensure alignment with City of San Antonio Housing Goals and Objectives or as determined by the Board of Trustees.
The Trust shall not support projects that directly and permanently displace individuals or families from their homes.
Notice of Funding Availability (NOFA)
After a funding policy has been adopted by the Board of Trustees, it shall be at the Boards discretion to issue a Notice of Funding Availability, establish a selection process, and to establish the amount of funds available for such a notice. The Notice shall describe the types of programs or projects to be funded, eligibility criteria, submission requirements, evaluation criteria, process for selection, timeline for award, amount of Trust funds available, and other reasonable requirements or disclosures. The Board of Trustees shall also notify the City of San Antonio as to the release and requirements of the NOFA. The Board of Trustees shall ensure the selected respondents to the NOF A are inline with the adopted policies of the Board of Trustees.
Agreement for Trust Assistance
The Board of Trustees will establish terms for the receipt of Trust assistance, for monitoring the use of Trust funds, and for certifying compliance with the terms of the award of Trust assistance in an Agreement for Trust Assistance negotiated with each sponsor. Each sponsor or project that receives an award will execute an Agreement for Trust Assistance setting forth the terms of the award.
In general, the Agreement will prescribe the following matters:
1. Obligations of the sponsor or applicant
2. Cross-default protection on other City-funded loans
3. Term of obligations
4. Project completion schedule or program operation period
5. Performance standards
6. Use of Trust assistance for enumerated costs
7. Obligations of the Trust
8. Compliance reporting, monitoring, and auditing
9. Disbursement schedule
The Agreement for Trust Assistance will include any other matters or terms to promote the performance of the Agreement and protect the interests of the Trust.
Determination of Funds Available
The Board of Trustees shall be infom1ed of interest earnings and other assets of the Trust from the Managing Trustee on at least a quarterly basis or as determined by the Board of Trustees.
One for One Replacement
The Trust will not support the demolition of affordable housing units without a replacement for each unit demolished on or near the project site.
Fair Housing and Non-Discrimination
The Trust shall not unlawfully discriminate against anyone on the basis of race, color, national origin, religion, sex, disability, age, veteran status, familial status, source of income. The Trust shall also comply with the City of San Antonio’s Non-Discrimination Ordinance.
Community Engagement
The involvement of the residents of San Antonio in the activities of the San Antonio Housing Trust is essential to ensure that the Trust supports affordable housing programs and initiatives that are responsive to the needs and goals of the community. The Board of Trustees shall develop a public engagement plan prior to the adoption of Trust funding policy. The community engagement shall be provided in both English and in Spanish but may include other languages. The community engagement shall be based on the following principles:
1. Inclusion and respect
2. Transparency and feedback
3. Timely, accessible, and two-way communication
4. Fiscally responsible
Public Funds and Property
The funds and property held in the name of the San Antonio Housing Trust are public property subject to the laws of the State of Texas, the Charter of the City of San Antonio, and the ordinances enacted by City Council.
The Trust may receive contributions of cash, personal, tangible or intangible property, and real property interests.
The Managing Trustee shall manage and preserve Trust assets according to policies and procedures established for the management of City assets and property.
Amendments to Rules and Regulations
These Rules and Regulations may be amended by the Board ofTrustees in accordance with the Declaration of Trust, after complying with a public engagement process described above, and upon the approval of City Council.
Severability
If any provision of these Rules and Regulations or its application to any person or circumstance is held to be unlawful or otherwise invalid by any court of competent jurisdiction, other provisions will not be affected and will be severable.
CITY OF SAN ANTONIO HOUSING TRUST RESOLUTION NO. T21-0527-4 A RESOLUTION APPROVING THE FIRST AMENDED AND RESTATED DECLARATION OF TRUST CITY OF SAN ANTONIO HOUSING TRUST AND FIRST AMENDED AND RESTATED FINAL RULES AND REGULATIONS FOR THE OPERATION OF THE SAN ANTONIO HOUSING TRUST
Effective: 6/9/21 – Through: 5/31/23
WHEREAS, the City of San Antonio Housing Trust (“Trust”) was established by Ordinance No. 67895 passed on September 8, 1989 under a Declaration of Trust to provide affordable housing opportunities for low and moderate income families within highway Loop 41 0; and
WHEREAS, pursuant to said Declaration of Trust Article III, Section 3.6 subject to City Council approval, from time to time by majority vote, the Trustees may adopt such written rules, regulations, and procedures, and any amendments thereto, not inconsistent with the Trust, for the conduct of their meetings, the carrying out of their duties and powers;
WHEREAS, Article V, Section 5.1 of the Trust was amended by Resolution No. T0408-01 (August 16, 2004 and approved by Ordinance No. 9980 (September 23, 2004) providing Amendments to the Declaration of Trust may be made by a majority vote of the Trustees, provided, however, that such amendments do not violate the purpose of this Trust, pursuant to Section 1.2; and provided, further that Section 1.2, itself shall not be amended unless such action shall comply with Federal, State,
County, City, Municipal and Local laws, regulations, ordinances, statutes and guidelines.
WHEREAS, Article V, Section 5.1 ofthe Trust was amended by Resolution No. T0l-1001 (October 8, 2001) and approved by Ordinance No. 95273 (February 7, 2002) providing no amendment to the Declaration of Trust shall authorize the Trustees to conduct the affairs of the Trust in any manner or for any purpose contrary to the provisions of Section 50l(c)(3) of the Code. Further, provided any amendments made pursuant to Article V shall be attached to each original counterpart of the Trust instrument and shall be recorded as provided, and shall need City Council approval of any rule, regulation and procedural changes;
WHEREAS, The San Antonio Housing Trust Foundation, Inc. (‘Foundation”) along with the City of San Antonio (“COSA”) and the San Antonio Housing Trust (“Trust”) worked with the National Association for Latino Community Asset Builders (“NALCAB”) to assess the Foundation and Trust to make recommendations for strengthening the Trust and Foundation;
WHEREAS, NALCAB recommended the hiring of an Executive Director, monitoring covenants, establishing organizational policies and procedures and realigning the Trustees by having a governing organizational structure resemble and closely assimilate the Foundation, the San Antonio Housing Trust Finance Corporation and the San Antonio Housing Trust Public Facility Corporation;
WHEREAS, a Joint Transition Committee was formed to create and make key recommendations on the governing realignment framework of the organizational documents of the Trust;
WHEREAS, the Joint Transition Committee recommends the approval of First Amended and Restated Declaration of Trust City of San Antonio Housing Trust and the First Amended and Restated Final Rules and Regulations for the Operation of the San Antonio Housing Trust.
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE SAN ANTONIO HOUSING TRUST, that the Board of Trustees approve the First Amended and Restated Declaration of Trust City of San Antonio Housing Trust and the First Amended and Restated Final Rules and Regulations for the Operation of the San Antonio Housing Trust.
IT IS FURTHER RESOLVED that the First Amended and Restated Declaration of Trust City of San Antonio Housing Trust and the First Amended and Restated Final Rules and Regulations for the Operation of the San Antonio Housing Trust be presented to the City of San Antonio City Council as approved.
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