Texas Department of Housing and Community Affairs Governing Board Agenda Packet April 2026
City of Corpus Christi loan required for Palo Verde project
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Description
TDHCA underwriting for Palo Verde Senior Apartments contemplates a $2,000,000 City of Corpus Christi loan as part of the project’s capital stack. The Department requires formal loan approval detailing terms and funding source before finalizing the housing tax credit allocation.
Contract Details
Contract Amount
$2,000,000 loan
Vendor
CITY OF CORPUS CHRISTI
Agency
Texas Department of Housing and Community Affairs, TX
Contract Type
FINANCIAL_SERVICES
Document Date
April 9, 2026
Contract Term
No amortization (reportedly changed from 40-year amortization)
Renewal Info
Loan terms reportedly revised from 40-year amortization to a non-amortizing structure at 3% interest; final documentation still required.
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DISCUSSSEDIssuing Agency
Texas Department of Housing and Community Affairs
State Housing Authority
Austin, TX
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