Regular Meeting of the Paisano Housing Redevelopment Corporation Board of Directors

23 September 2015, 6:30pm – 7:00pm

5300 East Paisano Drive
El Paso, Texas 79905

Meeting Agenda

PUBLIC NOTICE OF A REGULAR BOARD MEETING

Regular Meetinf of the Paisano Housing Redevelopment Corporation Board of Directors

23 September 2015, 6:30 pm - 7:00 pm

5300 East Paisano Drive

El Paso, Texas 79905

Meeting Agenda

TAKE NOTICE THAT A REGULAR MEETING OF THE BOARD OF DIRECTORS OF PAISANO HOUSING REDEVELOPMENT CORPORATION, WILL BE HELD AT 5300 EAST PAISANO, EL PASO, TEXAS WEDNESDAY, SEPTEMBER 23, 2015 IMMEDIATELY FOLLOWING THE EP RAD-3, PFC REGULAR JOINT BOARD MEETING

TO CONSIDER AND POSSIBLY ACT ON THE FOLLOWING:

1.         CALL TO ORDER.

2.         ESTABLISHMENT OF A QUORUM.

3.         APPROVAL OF MINUTES OF A REGULAR JOINT MEETING THAT TOOK PLACE ON AUGUST 26, 2015.

4.         DISCUSSION AND ACTION REGARDING RESOLUTION AUTHORIZING PAISANO HOUSING REDEVELOPMENT CORPORATION (“PHRC”) TO EXECUTE ANY AND ALL DOCUMENTS, OR TAKE ANY OTHER ACTION THAT IS NECESSARY OR DESIRABLE TO:

            1.  Facilitate the development of the Haymon Krupp Apartments (the “Project”), which consists of affordable housing units and associated amenities to be built upon land ground-leased from the Housing Authority of the City of El Paso (“HACEP”);

            2.  Cause the PHRC and/or the General Partner and/or Haymon Krupp, LP (the “Partnership”) to execute: (i) that certain First Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”) of the Partnership by and among Paisano Haymon Krupp GP, LLC (the “General Partner”), and Alden Capital Partners Tax Credit Fund 14, LP (the “Investor”); (ii) that certain Amended and Restated Development Agreement by and between the Partnership and El Paso Krupp Developer, LLC (the “Development Agreement”); (iii) that certain Purchase Option Agreement and Right of First Refusal (the “Option Agreement”) entered into by and between the Partnership and HACEP; (iv) that certain Pledge and Security Agreement (General Partner) by the General Partner for the benefit of the Investor (the “Pledge”); and (v) and other related documents;

             3.  Cause the Partnership to enter into: the Development Agreement; (ii) the Option Agreement; (iii) that certain Consent to Security Interest and Agreement of Partners of Partnership (“Consent”) (iv) development financing for the Project; and (v) and other related documents; and

             4.  Cause PHRC, the General Partner and/or the Partnership to execute any such further documentation as necessary or desirable to allow the consummation of the transactions as more fully described herein.

5.         DISCUSSION AND ACTION REGARDING RESOLUTION AUTHORIZING PAISANO HOUSING REDEVELOPMENT CORPORATION (“PHRC”) TO EXECUTE ANY AND ALL DOCUMENTS, OR TAKE ANY OTHER ACTION THAT IS NECESSARY OR DESIRABLE TO:

           1.  Facilitate the development of the Tays Apartments (the “Project”), which consists of affordable housing units and associated amenities to be built upon land ground-leased from the Housing Authority of the City of El Paso (“HACEP”);

           2.  Cause the PHRC and/or the General Partner and/or El Paso Tays, LP (the “Partnership”) to execute: (i) that certain First Amended and Restated Agreement of Limited Partnership (the “Partnership Agreement”) of the Partnership by and among Paisano Tays GP, LLC (the “General Partner”), and an affiliate of Alden Capital Partners – ACP-ILP, LLC (the “Investor”); (ii) that certain Amended and Restated Development Agreement by and between the Partnership, PHRC and Carleton Development, Ltd. (the “Development Agreement”); (iii) that certain Purchase Option Agreement and Right of First Refusal (the “Option Agreement”) entered into by and between the Partnership and HACEP; (iv) that certain Pledge and Security Agreement (General Partner) by the General Partner for the benefit of the Investor (the “Pledge”); and (v) and other related documents;

           3.  Cause the Partnership to enter into: the Development Agreement; (ii) the Option Agreement; (iii) that certain Consent to Security Interest and Agreement of Partners of Partnership (“Consent”) (iv) development financing for the Project; and (v) and other related documents; and

           4.  Cause PHRC, the General Partner and/or the Partnership to execute any such further documentation as necessary or desirable to allow the consummation of the transactions as more fully described herein.

6.         ADJOURNMENT.

THIS NOTICE HAS BEEN POSTED AT THE CENTRAL OFFICES OF THE ABOVE-LISTED ENTITIES, INCLUDING PAISANO HOUSING REDEVELOPMENT CORPORATION AND AFFORDABLE HOUSING VENTURES, INC., 5300 EAST PAISANO DRIVE, AND NOTICE HAS BEEN PROVIDED TO THE EL PASO COUNTY CLERK MORE THAN 72 HOURS IN ADVANCE OF THE ABOVE MEETING, AS REQUIRED BY CHAPTER 551 OF THE TEXAS GOVERNMENT CODE.

UPON REQUEST EP HOUSING OPERATIONS AND MANAGEMENT PUBLIC FACILITY CORPORATION WILL PROVIDE AUXILIARY AIDS AND SERVICES SUCH AS INTERPRETERS FOR THE HEARING IMPAIRED, READERS, LARGE PRINT OR BRAILLE DOCUMENTS.  THOSE REQUESTING AUXILIARY AIDS OR SERVICES MAY NOTIFY SERGIO VASQUEZ, EQUAL OPORTUNITY COORDINATOR, AT (915) 849-3820, OR SVASQUEZ@HACEP.ORG AT LEAST 48 HOURS PRIOR TO THE MEETING.

SIMULTANEOUS ENGLISH/SPANISH TRANSLATION IS PROVIDED AT ALL REGULAR MEETINGS OF THE BOARD OF DIRECTORS AND PARTNERS OF THE ABOVE-LISTED ENTITIES.

THE JOINT MEETING OF THE ABOVE-LISTED ENTITIES WILL TAKE PLACE IMMEDIATELY AFTER THE BOARD OF COMMISSIONERS MEETING OF THE HOUSING AUTHORITY OF THE CITY OF EL PASO, WHICH COMMENCES AT 5:30 P.M.   THE JOINT MEETING OF THE ABOVE-LISTED ENTITIES IS ANTICIPATED TO COMMENCE AT APPROXIMATLEY 6:00 P.M.

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Housing Authority of the City of El Paso

5300 East Paisano Drive
El Paso, TX 79905
United States

Monday-Friday, 8 a.m. – 5 p.m.

(915) 849-3742

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