Regular Joint Meeting of the PHRC Board of Directors et al

23 January 2019, 7:00pm – 7:30pm

5300 East Paisano Drive
El Paso, Texa 79905

Meeting Agenda

Regular Joint Meeting of the PHRC Board of Directors, et al

January 23, 2019, 7:00 pm - 7:30 pm

5300 East Paisano Drive

El Paso, TX 79905

Meeting Agenda

Take notice that a joint meeting of the Board of Directors of Paisano Housing Redevelopment Corporation and EP RAD-3 PFC will be held at 5300 East Paisano Dr. El Paso, Texas, 79905 Wednesday, January 23, 2019 immediately following the Regular Meeting of the Board of Directors of EP Housing Operations and Management Enterprises, PFC

To consider and possibly act on the following

A.        Preliminary Items

1.         Call to Order

2.         Establishment of Quorum

3.         Approval of minutes of a regular meeting of the Board of Directors of Paisano Housing Redevelopment Corporation that took place on December 19, 2018.

B.        Consent Agenda Items

            There are no consent agenda items scheduled for this meeting.

C.        Regular Agenda:  Items Considered for Action

4.         Discussion and action by the Board of Directors of  Paisano Housing Redevelopment Corporation (“PHRC”) authorizing a loan to EP Tays North, LP for the development and rehabilitation of the Tays North Apartments (the “Project”) and approving such other actions necessary or convenient to carry out this resolution.

5.         Discussion and action by the Board of Directors of Paisano Housing Redevelopment Corporation (“PHRC”) authorizing PHRC to execute any and all documents, or take any other action that is necessary or desirable to:

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

2.         Cause the PHRC and/or EP  Sherman I Plaza GP, LLC (the “General Partner”) and/or El Paso Sherman I, LP (the “Partnership”) to execute: (i) that certain Affordable Housing Program Recapture Agreement (the “Recapture Agreement”) by and among PHRC, the Partnership and Citibank, N.A. (“Citi”); (ii) that certain Affordable Housing Program Promissory Note for Rental Projects Using Low Income Housing Tax Credits (“Sponsor Note”) by PHRC in favor of Citi; (iii) that certain Affordable Housing Program Partnership Note (the “Partnership Note”) by the Partnership in favor of PHRC; (iv) that certain Affordable Housing Program Loan Leasehold Deed of Trust and Security Agreement (the “Security Instrument”) by the Partnership in favor of PHRC; (v) that certain Affordable Housing Program Loan Leasehold Deed of Trust and Security Agreement Rider (the “Rider”) by and between PHRC and the Partnership; (vi) that certain Agreement to Subordinate to Rental Assistance Demonstration Use Agreement (“RAD Subordination”) by and between PHRC and the Partnership; (vii) that certain Assignment of Partnership Note and Leasehold Deed of Trust (“Assignment”) by PHRC in favor of Citi; (viii) that certain Gap Financing Loan Omnibus Amendment (“Omnibus Amendment”) by and between PHRC and the Partnership; and (ix) and other related documents;

3.         Cause the Partnership to enter into development financing for the Project; 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.

6.         Discussion and action by the Board of Directors of EP RAD-3 PFC (“PFC”) regarding resolution authorizing PFC to execute any and all documents, or take any other action, that is necessary or desirable to:

1.         Facilitate the development of the Tays North Apartments (the “Project”), which consist of affordable housing units and associated amenities to be rehabilitated on land ground-leased from the Housing Authority of the City of El Paso (“HACEP”) to EP Tays North II, LP (the “Partnership”);

2.         Cause the Partnership to increase the authorized development financing for the Project; and 

3.         Cause PFC and/or the General Partner and/or the Partnership to execute any such further documentation as necessary or desirable to allow the consummation of the transactions.              

D.        Executive (Closed) Session

            Although there is no executive or closed session planned for this meeting, the Board of Directors reserves its right to go into executive session, or a closed private session, to take up any items on or related to this agenda that may be appropriately taken up in executive session pursuant to the Texas Open Meetings Act, Texas Government Code 551.071 to .076, for such matters as consultation with an attorney on a matter covered by attorney-client privilege, to confer regarding threatened or pending litigation, or to confer regarding real estate, personnel, and/or security matters that may be discussed in a closed session.   No action and no votes will be taken in any executive session.

E.        Conclusion of Meeting

7.         Adjournment.

 

Posting Statement

This notice has been posted at the central offices of Paisano Housing Redevelopment Corporation, 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.  

Accessibility Notice

Upon request Paisano Housing Redevelopment Corporation will provide auxiliary aids and services such as interpreters for the hearing impaired, readers, and large print or braille documents.  Those requesting auxiliary aids or services may notify Sergio Vasquez, Equal Opportunity 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 of Paisano Housing Redevelopment Corporation.

Concealed and Open Carry Handgun/Weapons Notice

Pursuant to § 30.06, penal code, (trespass by holder license holder with a concealed handgun), a person licensed under subchapter h, chapter 411, government code (handgun licensing law), may not attend this meeting with a concealed handgun.

Pursuant to § 30.07, penal code, (trespass by holder license holder with an openly carried handgun), a person licensed under subchapter h, chapter 411, government code (handgun licensing law), may not attend this meeting with a handgun that is carried openly.

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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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