Chapter 5 — Public Facility Corporation Board regular voting meeting (October 7, 2025)

**Date in the room:** Tuesday, October 7, 2025. Called at **5:34 p.m.** Executive stretch ~5:58–6:53 p.m. Adjourned **6:57 p.m.** **Type:** Austin ISD Public Facility Corporation (Ch. 303) board of directors, regular voting meeting. Not the AISD trustees’ school-closure agenda. **Runtime:** last caption stamp `[01:03:24]`. **Source:** `meetings/clean/20251008-Austin-ISD-Public-Facility-Corporation-Board-Regular-Voting-Meeting--October-7-2.txt` **Place:** AISD central office; Spectrum 22 / AT&T 99.

Caption errors: Anita Coyle (Anita Koi / Koy / Coy); Dos Juntos (DoS Huntos); Directors Alfiso / Afiso / Aiso and Tovar; President Hunter; Secretary Boswell; Gonzalez; Summer Greathouse (Greyhouse); Nick Walsh, NRP Group; Hatch Oland/Owen; Cushman and Wakefield (Kushman).

Quorum of **four**. Two new directors seated.

Who is in the room

**PFC directors (quorum of four, all on the dais for votes):** President Hunter; Secretary Boswell; Director Alfiso/Afiso (new); Director Tovar (new). Gonzalez is on the dais for the Anita East motion. Hunter welcomes “the expansion of our board. We have director Alfiso and director Tovar” (`[00:01:44]`–`[00:01:49]`). Last meeting appointed them.

**Counsel / developers:** Summer Greathouse, Bracewell, PFC counsel. Nick Walsh, NRP Group. Architect Hatch Oland Owen; Moscow Turo public art; Sana PR; Structure Development co-developer; Cushman and Wakefield on the real-estate side.

**Public:** no public-comment period is called. No speakers.

This is a housing-finance board using the school district’s PFC, not a campus CAC.

Agenda and minutes (`[00:00:22]`–`[00:04:07]`)

Call to order 5:34 p.m. Quorum physically present. Agenda approved 4–0 (Boswell / Alfiso).

Item 2.1: minutes of May 22, 2025. Boswell moves; Tovar seconds. Brief confusion — someone starts talking Anita Coyle while they are still on minutes (“We’re voting on the minutes”). Minutes **4–0**.

Item 2.2: minutes of August 21, 2025. Boswell / Alfiso. **4–0**.

Anita Coyle East (`[00:04:27]`–`[00:58:53]`)

Greathouse: PFC subsidy is a **property-tax exemption**; no other state or federal subsidy on this deal. Economic returns to the PFC on the **East** phase (East and West are separate):

• $250,000 closing fee
• 10% of sales-tax savings (PFC as general contractor for the exemption)
• $25,000 per year plus 15% of the property taxes that would have been paid if the project were not tax-exempt
• On refinance: 15% of net proceeds
• On sale: 1% of gross sales price

Other terms: land reserved for an alternative learning center so the district keeps a presence on the site; PFC right of first offer at fair market value; parking garage and density; nonprofit space planned for Dos Juntos (~5,000 sq ft at $0 rent in the term sheet as discussed), with PFC say over successor tenants; MWBE 20% of subcontractors; public park / green space maintained by the developer; tree preservation; seven-year physical-needs assessments enforceable by the PFC; ability to remove the property manager; TDHCA file and annual compliance.

“Another item that I think was really important to the board… was the advanced marketing to teachers and there will be a list that is maintained by the school district that the developer will use” (`[00:11:11]`–`[00:11:24]`). Emphasis on family-size units: two- and three-bedroom; “There are no studio apartments in this development” (`[00:11:41]`–`[00:11:44]`). Guaranteed **40 years of affordability**, “the same as low-income housing tax credit projects. A lot of PFC’s around the state don’t do that. For example, the Austin Housing Authority doesn’t do that” (`[00:11:53]`–`[00:12:06]`). Mix discussed: 10% at 60% AMI, 40% at 80%.

Nick Walsh, NRP: tonight is **final approval for East**. Term sheets for East and West finalized about a year ago; a year of city permitting and capital partners. “We are shovel ready. We are about one and a half months out from putting a shovel in the ground on the first phase.” West returns in four to six months. Final official number: **675 units** across both phases (`[00:22:42]`–`[00:22:45]`). East design went “from 339 uh to 341 in the final design” (`[00:29:37]`–`[00:29:40]`). Investor limited partner: Clarion Partners. Construction lender: Goldman Sachs. About $100 million private capital in the conversation.

AMI examples in Q&A: one-person 60% AMI $52,920; family of four 60% $75,600, 80% $100,800. Starting year-one AISD teacher salary sits **above** one-person 60% AMI, which is why the mix and the teacher survey matter (`[00:37:18]`–`[00:37:26]`). Three-bedroom 60% rent about $1,965 versus market above $3,300.

Directors ask about teacher targeting, unit mix, and shovel timing. Close targeted around November 20 in the permitting/finance calendar — the same week as the trustees’ consolidation vote, coincidental on the calendar, not the same agenda.

Vote, executive session, adjourn

After closed session they return. Gonzalez: “I move to approve item 2.3 resolution authorizing the Anita Koy Apartments East transaction” (`[01:02:36]`–`[01:02:38]`). All those on the dais. **4–0**.

Adjourned at 6:57 p.m. “Good job, everyone.” Last stamp `[01:03:24]`.

What was not discussed

Teacher **housing** is the workforce item. School closures are not on this agenda. The ALC land reservation is the only instructional footprint.

Result

• Agenda: **4–0**.
• May 22 minutes: **4–0**.
• August 21 minutes: **4–0**.
• Item 2.3 Anita Coyle Apartments East: **4–0**.
• No public comment. No school-consolidation motion.

Board and campus life

Hunter and Boswell sit as PFC officers, not as campus visitors. The “connection” to campus life is a marketing list of teachers and a reserved ALC pad. No one describes a classroom, a library, or a child at Anita Coyle as a school. The room is lawyers, a developer, and four directors authorizing a tax-exempt multifamily deal on former district land.

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