San Antonio Housing Trust Finance Corporation

AGENDA A Regular Board Mee�ng for: SAN ANTONIO HOUSING TRUST FINANCE CORPORATION will be held at Municipal Plaza B Room 114 W Commerce St., San Antonio, TX 78205 and virtually via ZOOM: https://us02web.zoom.us/j/81602382141?pwd=VW9oS0k3c0YzbWU0VExORmNrUVR3UT09 DIAL-IN NUMBER: 1-346-248-7799 MEETING ID: 816 0238 2141 PASSWORD: 132607 On Friday, July 28, 2023, beginning at 2:30 p.m. or immediately following the adjournment of the San Antonio Housing Trust Foundation board meeting. NOTICE: A quorum of the board of directors will be physically located at 114 W Commerce St., San Antonio, TX 78205 at 2:30 p.m. One or more of the Directors may attend this meeting by video conference pursuant to the requirements set forth in the Texas Open Meetings Act. An electronic copy of the agenda packet may be accessed at the San Antonio Housing Trust website under the CALENDAR/Board Meeting date page prior to the meeting. NOTICE: This meeting of the Board, being held for the reasons listed below, is authorized i n accordance with the Texas Government Code, Sections 551.001 - 551.146. Verification of Notice of Meeting and Agenda are on file in the Office of the Executive Director. 1. Call to Order and Roll Call. 2. Discussion and possible action to approve minutes of June 16, 2022. 3. Public Comment – Interested speakers will have 3 minutes each to address the Board on agenda items or housing policy related matters. 4. Briefing, discussion and possible action to approve a resolution approving a budget amendment for the San Antonio Housing Trust Finance Corporation Fiscal Year 2023 related to a net increase in budgeted revenues and operating expenses. 5. Adjournment. *Execu�ve Session The San Antonio Housing Trust Public Facility Corpora�on reserves the right to adjourn into Execu�ve Session at any �me during the course of this mee�ng to discuss any of the maters listed on the posted agenda, above, as authorized by the Texas Government Code, Sec�ons 551.071 (consulta�on with atorney), 551.072 (delibera�ons about real property), 551.073 (delibera�ons about gi�s and dona�ons), 551.074 (personnel maters), 551.076 (delibera�ons about security devices), and 551.087 (economic development). ANY ITEM DISCUSSED IN EXECUTIVE SESSION MAY BE ACTED ON IN OPEN SESSION SAN ANTONIO HOUSING TRUST FINANCE CORPORATION BOARD MEMBERS: Council Member Jalen McKee-Rodriguez (District 2), Council Member Phyllis Viagran (District 3), Council Member Dr. Adriana Rocha Garcia (District 4), Council Member Teri Cas�llo (District 5), Council Member John Courage (District 9), Jane Paccione, Jordan Ghawi Page 1 of 7 Atendance by Other Elected or Appointed Officials: It is possible that members City boards, commissions and/or commitees may atend the open mee�ng in numbers that may cons�tute a quorum. No�ce is hereby given that the mee�ng, to the extent required by law, is also no�ced as a mee�ng of any other boards, commissions and/or commitees of the City, whose members may be in atendance in numbers cons�tu�ng a quorum. These members of other City boards, commissions, and/or commitees may not deliberate or take ac�on on items listed on the agenda. [Atorney General Opinion – No. GA-0957 (2012)]. This facility is wheelchair accessible and accessible parking spaces are available. Requests for accommoda�ons or interpreta�ve services must be made 48 hours prior to this mee�ng. Please contact Nicole Collazo, for concerns or requests, at (210) 735-2772 or FAX (210) 735-2112. Page 2 of 7  San Antonio Housing Trust Finance Corpora�on Agenda Item 2 This item includes the approval of minutes from the June 16, 2023, mee�ng. Page 3 of 7  SAN ANTONIO HOUSING TRUST FINANCE CORPORATION OFFICIAL MEETING MINUTES Date: June 16, 2023 The Finance Corporation met in session at 4:51 p.m., via Zoom and in person at 114 W Commerce St, San Antonio, TX 78205. PRESENT: Councilwoman Adriana Rocha Garcia, Antoinette Brumfield, Mark Carmona, Eric Cooper, Councilwoman Teri Castillo, Councilwoman Phyllis Viagran, Jordan Ghawi, Rachell Hathaway, Councilman John Courage, and Marinella Murillo. ABSENT: Jane Paccione and Councilman Jalen McKee-Rodriguez STAFF/VISITORS PRESENT: Pedro Alanis- Executive Director San Antonio Housing Trust Foundation.; Nicole Collazo- Director of Operations San Antonio Housing Trust Foundation; Susan Snowden- Financial Director San Antonio Housing Trust; Tom Roth- Director of Development San Antonio Housing Trust Foundation; Jessica Kuehne- Director of Asset Management San Antonio Housing Trust Foundation.; John Hernandez- Senior Asset Manager San Antonio Housing Trust Foundation; Lauren Bejaran- Senior Administrative Assistant San Antonio Housing Trust Foundation; Ruben Lizalde- D3; Edward Muniga- D4; Justin Renteria- D5; Milee Ray- D9; Isaac Bernal- City of San Antonio Special Project Manager; Allison Beaver- NHSD; James Plummer- Attorney Bracewell; Summer Greathouse- Attorney Bracewell; Clarissa Rodriguez- Attorney DNRBZ; Mirla Lopez- SEFLA Languages Interpreter; Kayla Miranda- Coalition for Tenant Justice; Travis Russell- Morgan Group; Mia Loseff- Texas Housers; Nicole Freeman-NHSD. 1. CALL TO ORDER AND ROLL CALL: The meeting was called to order by President Rocha Garcia and the roll was called by Lauren Bejaran. 2. DISCUSSION AND POSSIBLE ACTION TO APPROVE MINUTES FOR SEPTEMBER 16, 2022. Councilman Courage motioned, and Councilwoman Castillo seconded for approval of the September 16, 2022, minutes with the noted corrections. AYES: 4 NAYS: ABSTAINED: 1- Jordan Ghawi THE MOTION PASSED. 3. CITIZENS TO BE HEARD NONE. NO ACTION WAS TAKEN. 4. BRIEFING, DISCUSSION, AND POSSIBLE ACTION TO APPROVE A RESOLUTION ADOPTING THE SAN ANTONIO HOUSING TRUST FINANCE CORPORATION INVESTMENT POLICY. Page 4 of 7  Pete Alanis briefed the board on the proposed resolution adopting the San Antonio Housing Trust Finance Corporation Investment Policy. MINUTES COMMISSION ACTION: Councilman Courage motioned, and Jordan Ghawi to approve Item #4. AYES: 5 NAYS: ABSTAINED: THE MOTION PASSED. 5. ADJOURNMENT Vice President Jane Paccione adjourned the meeting. There being no further business, the meeting was adjourned at 4:52 p.m. Page 5 of 7  San Antonio Housing Trust Finance Corpora�on Agenda Item 3 Public Comment Interested speakers will have 3 minutes each to address the Board on agenda items or housing policy related maters; a total of 15 minutes will be provided. To sign up for Public Comment please call 210-735-2772 24 hours prior to this mee�ng to place your name on the list. Los oradores interesados tendrán 3 minutos cada uno para dirigirse a la Junta sobre temas de la agenda o asuntos relacionados con la polí�ca de vivienda; Se proporcionará un total de 15 minutos. Para inscribirse en Comentario Público, llame al 210-735-2772 24 horas antes de esta reunión para incluir su nombre en la lista. Page 6 of 7  San Antonio Housing Trust Finance Corpora�on Agenda Item 4 Approval of a budget amendment for the San Antonio Housing Trust Finance Corporation for Fiscal Year 2023 for various expenditures. Background The Board adopted the Annual Opera�ng Budget on September 16, 2022, for the FY 2023 beginning October 1 and ending September 30th. Staff has reviewed the current year revenues and expenses through the first nine months ending June 30, 2022. Overall, we are in great shape rounding the corner into the last leg of the fiscal year, however, we recommend a 9+3 Budget Amendment to more accurately reflect those adjustments needed to projected revenues and expenses. In the Finance Corpora�on, revenues from Annual Issuer Fees are reduced by $13k due to the payoff of bonds for two projects which will no longer collect fees. However, there was a net increase in revenues because interest income was substan�ally higher than expected. This results in a required budget increase to revenues in the amount of $62.8k. Opera�ng expenses are amended to reflect adjustments in the cost alloca�on of accoun�ng and audit services atributed to the FC of $28.9k. As such, staff projects a higher-than-expected increase to net posi�on. FY 2023 FY 2023 Proposed Finance Corporation Adopted Amended Amendment Budget Budget Revenues $136,810 $62,830 $199,640 Less Operating Expenses 45,530 28,960 74,490 Increase in Net Position $ 91,280 $33,870 $125,150 Recommenda�on: The Finance and Audit Commitee recommends approving resolu�on to amend the FY 2023 San Antonio Housing Trust Finance Corpora�on Budget. Atachment: Budget Amendment Resolu�on Page 7 of 7  SAN ANTONIO HOUSING TRUST FINANCE CORP FY 2023 Budget Amendment #2023‐001 FY 2023 Amendment FY 2023 Adopted Budget #2023‐001 Amended Budget OPERATING REVENUES Annual Issuer Fee $ 136,720 $ (13,080) $ 123,640 TOTAL OPERATING REVENUES $ 136,720 $ (13,080) $ 123,640 OPERATING EXPENSES Administrative Fees $ 34,180 $ (3,270) $ 30,910 Professional Services Accounting Services ‐ 13,080 13,080 Asset Management Services 7,750 7,250 15,000 Audit Services ‐ 11,000 11,000 Compliance Monitoring Services 3,600 ‐ 3,600 Other Professional Services ‐ 100 100 Total Professional Services 11,350 31,430 42,780 Subscriptions Software Subscriptions ‐ 800 800 Total Subscriptions ‐ 800 800 TOTAL OPERATING EXPENSES $ 45,530 $ 28,960 $ 74,490 OPERATING INCOME (LOSS) $ 91,190 $ (42,040) $ 49,150 NONOPERATING REVENUES (EXPENSES) Interest Income ‐ Banks 90 75,910 76,000 TOTAL NONOPERATING REVENUES $ 90 $ 75,910 $ 76,000 INCREASE (DECREASE) IN NET POSITION $ 91,280 $ 33,870 $ 125,150  SAN ANTONIO HOUSING TRUST FINANCE CORPORATION A RESOLUTION APPROVING A BUDGET AMENDMENT FOR THE SAN ANTONIO HOUSING TRUST FINANCE CORPORATION FOR FISCAL YEAR 2023 RELATED TO A NET INCREASE IN BUDGTETED REVENUES AND OPERATING EXPENSES. WHEREAS, the San Antonio Housing Trust Finance Corporation (“SAHTFC”) is pursuing additional opportunities for growing its affordable, sustainable multifamily developments in line with its Strategic Plan and the SHIP; and WHEREAS, the SAHTFC annual issuer fees were slightly higher due to payoff of bonds for two projects and there was also a net increase in budgeted revenue because of higher interest income; and WHEREAS, after reviewing the needs of the SAHTFC operations, the Executive Director recommends a budget amendment to meet the needs of the organization for revenue, expenses, and to address the change in revenues and operating expenses; and WHEREAS, Exhibit A evidences the SAHTFC and revenues related to the fees, changes in revenue, and operating expenses; and WHEREAS, the Finance and Audit Committee recommends approval of the recommended budget adjustment for SAHTFC Board consideration and approval; and WHEREAS, the Finance Corporation Board of Directors finds this budget adjustment in the public interest based on changes to revenues and operating expenses for meeting its strategic goals and for such stated purpose as warranted and necessary. NOW THEREFORE, BE IT RESOLVED BY THE SAN ANTONIO HOUSING TRUST FINANCE CORPORATION THAT: Section 1. The above Recitals are true and correct and are a material part of this Resolution and are incorporated herein for all purposes. Section 2. The Board of Directors for the San Antonio Housing Trust Finance Corporation does hereby approve the budget amendment as recommended by the Executive Director for the Fiscal Year beginning October 1, 2022, and ending September 30, 2023, as indicated in Exhibit A related to changes in revenues and operating expenses. Section 3. If any section, subsection, clause, phrase or provision of this Article, or any application thereof to any person or circumstance, shall to any extent be held by a court of competent jurisdiction to be invalid, void, or unconstitutional, the remaining sections, subsections, clauses, phrases and provisions of this Article, or any application thereof to any person or circumstance, shall remain in full force and effect and shall in no way be affected, impaired, or invalidated. Section 4. This Resolution shall be cumulative of all provisions of the SAHTFC, except where the provisions of this Resolution are in direct conflict with the provisions of such Resolution, in which event the conflicting provisions of such Resolution are hereby repealed. Section 5. That it is officially found, determined and declared that the meeting at which this Resolution is adopted was open to the public and public notice of the time, place, and subject matter of the public business to be considered at such meeting, including this Resolution, was given, all as required by Chapter 551, as amended, Texas Government Code. Section 6. This Resolution shall take effect immediately from and after its passage and the publication of the caption hereof, as provided by law. PASSED and APPROVED this the ___day of July 2023. SIGNED: Councilwoman Adriana Rocha Garcia President ATTEST: Jordan Ghawi, Secretary