San Antonio Housing Trust Foundation

Posted on 06.11.2023 at 1:49 PM AGENDA A Regular Board Meeting for: SAN ANTONIO HOUSING TRUST FOUNDATION 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/84510790052?pwd=TmhlblZSOVhuYThuWG16M0JtVWFSdz09 DIAL-IN NUMBER: 1-346-248-7799 MEETING ID: 845 1079 0052 PASSWORD: 236502 On Friday, June 16, 2023, beginning at 2:00 p.m. or immediately following the adjournment of the San Antonio Housing Trust PFC Board Meeting NOTICE: A quorum of the board of directors will be physically located at 114 W Commerce St., San Antonio, TX 78205 at 2:00 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 in 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 May 19, 2023 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 to award $295,000 from the San Antonio Housing Trust Foundation, Inc. to the Mexican American Unity Council in support of the development of Community Land Trust Technical Assistance Grant; authorizing the Executive Director to execute all documents and addressing related matters. 5. Briefing, discussion and possible action to approve a resolution of the San Antonio Housing Trust Foundation, Inc. adopting an Investment Policy. 6. Briefing, discussion and possible action to approve a resolution authorizing scholarships for the Texas Affiliation of Affordable Housing Providers Conference to Foundation City Council Board Members staff to attend such conference; creating an effective date; and directing the executive director or his designee to disburse such scholarships as needed. 7. Adjournment. Executive Session. The San Antonio Housing Trust reserves the right to adjourn into Executive Session at any time during the course of this meeting to discuss any of the matters listed on the posted agenda, above, as authorized by the Texas Government Code, Sections 551.071 (consultation with attorney), 551.072 (deliberations about real property), 551.073 (deliberations about gifts and donations), 551.074 (personnel matters), 551.076 (deliberations about security devices), and 551.087 (economic development). ANY ITEM DISCUSSED IN EXECUTIVE SESSION MAY BE ACTED ON IN OPEN SESSION Attendance by Other Elected or Appointed Officials: It is possible that members City boards, commissions and/or committees may attend the open meeting in numbers that may constitute a quorum. Notice is hereby given that the meeting, to the extent required by law, is also noticed as a meeting of any other boards, commissions and/or committees of the City, whose members may be in attendance in numbers constituting a quorum. These members of other City boards, commissions, and/or committees may not deliberate or take action on items listed on the agenda. [Attorney General Opinion – No. GA-0957 (2012)]. This facility is wheelchair accessible and accessible parking spaces are available. Requests for accommodation or interpretative services must be made 48 hours prior to this meeting. Please contact Nicole Collazo, for concerns or requests, at (210) 735-2772 or FAX (210) 735-2112.  San Antonio Housing Trust Foundation Agenda Item 2 This item includes the approval of minutes from the May 19, 2023, meeting.  SAN ANTONIO HOUSING TRUST FOUNDATION 2023 OFFICIAL MEETING MINUTES DATE: May 19, 2023 TIME AND PLACE: The San Antonio Housing Trust Foundation met in session at 4:20 p.m., via Zoom and in person at 114 W Commerce St, San Antonio, TX 78205. PRESENT: Councilwoman Adriana Rocha, Antoinette Brumfield, Eric Cooper, Jalen McKee- Rodriguez, Councilman John Courage, Jordan Ghawi, Rachell Hathaway, Marinella Murillo, Jane Paccione, Councilwoman Teri Castillo, and Councilwoman Phyllis Viagran. ABSENT: Mark Carmona STAFF/VISITORS PRESENT: Pedro Alanis- Executive Director San Antonio Housing Trust Foundation; Nicole Collazo- Director of Operations San Antonio Housing Trust Foundation; Tom Roth- Director of Development; 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; Ileana Sandoval- D9; James Plummer- Attorney Bracewell; Summer Greathouse- Attorney Bracewell; Clarissa Rodriguez- Attorney DNRBZ; Issac Bernal- City of San Antonio Special Projects Manager; Nicole Freeman- NHSD; Allison Beaver- NHSD; Julietta Gonzalez- SEFLA Languages Interpreter 1. CALL TO ORDER AND ROLL CALL: The meeting was called to order by President Adriana Rocha Garcia and the roll was called by Lauren Bejaran. 2. DISCUSSION AND POSSIBLE ACTION TO APPROVE MINUTES OF APRIL 21, 2023. MINUTES COMMISSION ACTION: Rachell Hathaway motioned, and Councilwoman Viagran seconded to approve the April 21, 2023, minutes. AYES: 11 NAYS: ABSTAINED: THE MOTION PASSED. Councilman McKee-Rodriguez left the SAHT Foundation Meeting at 4:23 p.m. 3. PUBLIC COMMENT – INTERESTED SPEAKERS WILL HAVE 3 MINUTES EACH TO ADDRESS THE BOARD ON AGENDA ITEMS OR HOUSING POLICY RELATED MATTERS. NONE. NO ACTION TAKEN. 4. CONSIDERATION AND POSSIBLE ACTION TO APPROVE A RESOLUTION TO PROVIDE AN AMOUNT UP TO $40,000 TO SPONSOR THE NATIONAL DEVELOPMENT COUNCIL’S SEED ACADEMY FROM AVAILABLE THE FY 2023 FOUNDATION OPERATING BUDGET. Pete Alanis briefed the board on the proposed resolution to provide an amount up to $40,000 to sponsor the National Development Council’s SEED Academy from available FY 2023 Foundation Operating Budget. MINUTES COMMISSION ACTION: Eric Cooper motioned, and Jane Paccione seconded to approve a resolution to provide an amount up to $40,000 to sponsor the National Development Council’s SEED Academy from available FY 2023 Foundation Operating Budget. AYES: 10 NAYS: ABSTAINED: THE MOTION PASSED. 5. ADJOURNMENT President Rocha Garcia adjourned the meeting. There being no further business, the meeting adjourned at 4:36 p.m.  San Antonio Housing Trust Foundation Agenda Item 3 Public Comment Interested speakers will have 3 minutes each to address the Board on agenda items or housing policy related matters; a total of 15 minutes will be provided. Instructions to sign up for Public Comment via Zoom video conference. To sign up for Public Comment please call 210-735-2772 24 hours prior to this meeting to place your name on the list.  San Antonio Housing Trust Foundation Agenda Item 4 Briefing and possible action to approve a resolution to award $295,000 in available Foundation funds to Mexican American Unity Council in support of the development of a Community Land Trust. Background On December 1st the SAHT Founda�on released an RFP for Community Land Trust (CLT) Technical Assistance Grant to assist community-based nonprofits with the crea�on of a CLT including the cost of legal forma�on, organiza�onal structuring, board forma�on, ini�al staffing, public outreach & engagement efforts, CLT consul�ng services, programma�c development, and other reasonable related costs. Staff received two proposals totaling $1,022,572 in funding requests. An evalua�on panel of staff and board members evaluated the proposals based on the following point scale iden�fied in the Board Approved RFP: • Organizational Capacity & Long-Term Stewardship (30 points) • Community Impact (30 points) • Approach to CLT Creation and Public Engagement (20 points) • Budget Detail and Leveraging (20 points) The Evalua�on Panel consis�ng of (Pete Alanis, Mark Carmona, Tom Roth, Nicole Collazo, Marinella Murillo & CW Teri Castillo) met to review the proposals. Mexican American Unity Council (MAUC) scored 90 points and Culturingua scored 70 points. The Finance Commitee met on June 6, 2023 to consider the two proposals. They recommended moving forward the MAUC proposal for a $295,000 award. The Finance Commitee is seeking addi�onal informa�on on the second proposal before making a final recommenda�on. Westside Community Land Trust (WCLT) The Mexican American Unity Council (MAUC), a 501(c)(3) nonprofit corpora�on, shall co-create a Westside Community Land Trust to serve twenty-five (25) census blocks with 112,600 residents. MAUC is a long-�me community-based organiza�on who has worked in various aspects of affordable housing and community development. Most recently MAUC worked with UTSA to assist over 500 families clear or keep a clean marketable �tle, wherein some have required extensive li�ga�on to clear their �tle. The WCLT aims to address the affordability crisis while preserving the socio-cultural fabric of the Westside. This will be accomplished by developing models for acquisi�on of property that supports addi�onal long-term investments and transforms the dynamics of finance and creates a cascade of benefits for the Westside and San Antonio. The families would retain home ownership, but the land would remain in the Westside Community Land Trust. Need in the Community While San Antonio has experienced rapid growth from 2000 to 2020, the WCLT service area has not kept pace. In fact, the popula�on is lower today than it was in 2000. Addi�onally, the average median income has reduced since 2000 to $30,134, far lower than the City. Historically, redlining and lack of investment and neglect on the Westside has contributed to massive loss of homes and property on the Westside. As MAUC engaged with westside families through their Housing Center and �tle clearance programs, they discovered a willingness to place homes in WCLT in exchange for assistance to clean �tle. While the specific details s�ll need to be codified, families would retain ownership of the home, but the land would remain in WCLT. The WCLT will aim to serve low-income households between 30% - 80% of the area median income (AMI). WCLT will establish a stewardship program that maintains affordability with three basic goals: 1. To preserve the affordability for Westside property, for the intended income level, from one owner to the next – and to see that only income-eligible residents benefit from this affordability. 2. To see that the owners of those Westside proper�es are secure – that they are not displaced by foreclosure or other economic events and thereby maintain the socio-cultural fabric of the community. 3. To see that the physical quality of those homes is preserved, and carbon footprint reduced from one owner to the next. Finance Committee recommends providing grant funds in the amount of $295,000 to Mexican American Unity Council to facilitate the creation of the Westside Community Land Trust. Attachment: Resolution  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. RESOLUTION F23-0616-04 A RESOLUTION APPROVING AN AWARD FROM THE SAN ANTONIO HOUSING TRUST FOUNDATION, INC. TO THE MEXICAN AMERICAN UNITY COUNCIL IN SUPPORT OF A DEVELOPMENT OF COMMUNITY LAND TRUST TECHNICAL ASSISTANCE GRANT; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE ALL DOCUMENTS AND ADDRESSING RELATED MATTERS. WHEREAS, the San Antonio Housing Trust Foundation (“Foundation”) released a Request for Proposal for Community Land Trust (“CLT”) Technical Assistance Grant to assist community-based nonprofits with the creation of a CLT including the cost of legal formation, organizational structuring, board formation, initial staffing, public outreach & engagement efforts, CLT consulting services, programmatic development, and other reasonable related costs; and WHEREAS, the Foundation received two proposals in funding requests and the proposals were evaluated and scored for awards by an Evaluation Panel consisting of Foundation staff and Board Members; and WHEREAS, the Evaluation Panel recommended approval for the Mexican American Unity Council (“MAUC”) to receive an award of two-hundred ninety-five thousand dollars ($295,000) for a CLT Technical Assistance Grant and provided its recommendations to the Foundation Finance Committee; and WHEREAS, the Finance Committee met and approved the recommendation of the award of $295,000 to MAUC for their CLT proposal for a Technical Assistance Grant for Board consideration and approval; and WHEREAS, the Foundation Board of Directors approves the award of $295,000 from Foundation funds to MAUC for their CLT proposal for a Technical Assistance Grant and authorizes the Executive Director to execute any and all necessary documents related to such grant; and WHEREAS, the Housing Trust Foundation Board of Directors finds the grant award to MAUC in the public interest based on the purpose and goals related to its affordable and sustainable housing goals and strategic plan, and continued support of Community Land Trusts for such stated purpose as warranted and necessary. NOW THEREFORE, BE IT RESOLVED BY THE SAN ANTONIO HOUSING TRUST FOUNDATION, INC. 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 Foundation, Inc. does hereby approve an award to MAUC in the amount of $295,000 from Foundation funds for their CLT proposal for a Technical Assistance Grant and authorizes the Executive Director to execute any and all necessary documents related to such grant. 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 Housing Trust Foundation, 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 June 2023. SIGNED: Councilwoman Adriana Rocha Garcia President ATTEST: Jordan Ghawi, Secretary  San Antonio Housing Trust Foundation Agenda Item 5 Briefing, discussion and possible action to approve the San Antonio Housing Trust Foundation, Inc. Investment Policy Summary The fiduciary responsibility for the management and safeguarding of the San Antonio Housing Trust Fund resides with the City of San Antonio’s Finance Department. However, the monetary assets of the SAHT Foundation, Public Facility Corporation, and Finance Corporation reside with their respective Boards. After an analysis of our 5 Year Cash Flow, the Foundation, PFC, and FC need to invest a portion of the organization’s financial assets in financial investments to improve our financial status to address long term effectiveness of our funds. In accordance with the Texas Public Funds Investment Act (LGC 2256), the governing body of each SAHT entity should adopt a resolution for a written investment policy regarding the investment of its funds to emphasize safety of principal and liquidity while addressing investment diversification, yield, and maturity and the quality and capability of investment management. The attached Investment Policy sets forth the following: 1. Identifies responsibility to Board, Finance Committee, and Executive Director 2. States the investment types allowed by the Act 3. Establishes specific criteria for each type of investment. Responsibility SAHT Board(s) The monetary assets of the SAHT Foundation, Public Facility Corporation, and Finance Corporation shall reside with their respective SAHT Boards. Each board has the ultimate fiduciary responsibility for their respective investment portfolio. The board is responsible for ensuring that appropriate policies governing the management of the portfolio are in place and they are implemented. Responsibility of the Finance and Audit Committee The Finance and Audit Committee (acting as an investment committee) is responsible for implementing the investment policy by approving the investment strategies, monitoring the portfolio performance, and authorizing the Executive Director to proceed with investment actions. Responsibilities of the Executive Director The Executive Director, acting through its Director of Finance or Director of Operations or otherwise designated or acting staff, is responsible for implementing Finance and Audit Committees investment policies and strategies. The Executive Director is authorized to execute investment trades as well as authorized to release, transfer, or wire money related to investment transactions. Eligible Investments (TX PFI Act) • Obligations of or Guaranteed by Governmental Entities • Certificates of Deposits • Repurchase Agreements • Lending Securities  • Bankers’ Acceptance • Commercial Paper • Mutual Funds • Guaranteed Investment Contract • Investment Pools Investment Strategy (Finance/Audit Committee) The Finance and Audit Committee would act in the role of the Investment Committee. Staff has performed an estimate of cash needs through the end of the fiscal year for the Foundation, PFC, and FC. Below is the range of available funds SAHT can invest in this period. • Foundation can invest a range of $2.11M to $3.76M • Public Facility Corporation can invest a range of $10.48M to $15.22M • Finance Corporation can invest a range of $1.73M to $1.82M * Includes a 10% cash holdback to address any unanticipated liquidity needs. Currently, funds are in collateralized variable rate accounts that move with the market. However, they are not getting the same potential rates as CD’s or short-term treasury securities. Recommendation The Finance Committee Recommends adopting the Investment Policy and the subsequent roles and responsibilities in the Policy. Additionally, the Finance Committee will review investment proposals that are in line with eligible investments. The Executive Director will work to identify proposals for Finance Committee to consider optimize short term 1 to 12-month investments in a combination of CD’s, Treasury Securities with a maximum 10% invested in Money Market Mutual Funds in this initial investment round to our current cash flow needs. Attached Investment Policy (Investment Policy attached in the SAHT PFC board book) Resolution  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. RESOLUTION F23-0616-05 A RESOLUTION OF THE SAN ANTONIO HOUSING TRUST FOUNDATION, INC. ADOPTING AN INVESTMENT POLICY WHEREAS, the San Antonio Housing Trust Foundation, Inc. (“Housing Trust”) continues to develop long range plans to ensure the Housing Trust moves forward in a direction consistent with the adopted goals and visions of the Housing Trust to achieve the affordable housing production and preservation goals in San Antonio; and WHEREAS, the Housing Trust also identified the need to invest a portion of the organization’s financial assets in financial investments to improve its financial status to address long term effectiveness of funds; and WHEREAS, per the Texas Public Funds Investment Act, the governing body should adopt a written Investment Policy; and WHEREAS, the Housing Trust desires to adopt an Investment Policy regarding the investment of its funds to emphasize safety of principal and liquidity while addressing investment diversification, yield, and maturity and the quality and capability of investment management and will review and update as statutorily required; and WHEREAS, the Housing Trust Board of Directors recommends the adoption of an Investment Policy, as indicated in Exhibit A. NOW THEREFORE, BE IT RESOLVED BY THE SAN ANTONIO HOUSING TRUST FOUNDATION, INC. 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 Foundation, Inc. does hereby approve the adoption of an Investment Policy, as indicated in Exhibit A. 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 Housing Trust, 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 June, 2023 SIGNED: Councilwoman Adriana Rocha Garcia President ATTEST: Jordan Ghawi, Secretary  San Antonio Housing Trust Foundation Agenda Item 6 A resolution providing scholarships for The Texas Affordable Housing Conference to City of San Antonio staff from available FY 2023 Operating Funds Background The Texas Housing Conference sponsored by the Texas Association of Affordable Housing Providers is the largest affordable housing industry conference in Texas. This year all SAHT staff and board members were invited to attend the conference to ensure SAHT educated our team on complex issues impacting the affordable housing industry. Several Foundation City Council board members are not able to attend but would like the opportunity to send their housing policy staff in their place. To cover the costs of non-SAHT board or staff, the SA Housing Trust Foundation requires a board resolution to allow for scholarships of up to $1,500 each for up to three City Council staff to cover the cost of registration and hotel to attend the conference. The Texas Housing Conference will be held in Austin Texas from July 24 - 26, 2023. The registration is $825 for the 3-day event (in person/virtual). Hotel costs are reimbursed up to $200/night. Attachment: Resolution  SAN ANTONIO HOUSING TRUST FOUNDATION, INC. RESOLUTION F23-0616-06 A RESOLUTION OF THE SAN ANTONIO HOUSING TRUST FOUNDATION, INC. (“FOUNDATION”) AUTHORIZING SCHOLARSHIPS FOR THE TEXAS AFFORDABLE HOUSING CONFERENCE TO FOUNDATION CITY COUNCIL BOARD MEMBERS STAFF TO ATTEND SUCH CONFERENCE; CREATING AN EFFECTIVE DATE; AND DIRECTING THE EXECUTIVE DIRECTOR OR HIS DESIGNEE TO DISBURSE SUCH SCHOLARSHIPS AS NEEDED WHEREAS, the Foundation’s FY 2022-2023 Operating Budget provides funds for Board Members and Employees to attend training and be reimbursed for reasonable travel expenses; and WHEREAS, the Texas Affordable Housing Conference (“Conference”) is an annual event where affordable housing industry professionals around the country gather to learn from renowned industry experts and attend workshops relevant to the Affordable Housing community; and WHEREAS, the Conference is an important event that provides training and resources necessary for the Board Members to perform their daily functions for the Foundation; and WHEREAS, in the event a City Council Board Member is unable to attend the Conference, it would be beneficial to the Foundation to provide a scholarship for the Conference costs and related travel expenses to a staff member focused on policy issues related to housing who works for a City Council Foundation Board Member; and WHEREAS, the Housing Trust Board of Directors finds that such scholarships for City Council Foundation Board Members’ staff member will allow the City Council Foundation Board Members to benefit from the Conference’s training and resources through the attendance of their staff; and WHEREAS, the scholarships will be in place of the funds that were allocated to City Council Foundation Board Members in the training budget to attend the Conference; and WHEREAS, the Housing Trust Board of Directors finds authorization to provide these scholarships to City Council Board Members staff who focus on housing policy in the public interest based on the needs of the Foundation’s operations. NOW THEREFORE, BE IT RESOLVED BY THE SAN ANTONIO HOUSING TRUST FOUNDATION 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. In the event a City Council Foundation Board Member is unable to attend the Texas Affordable Housing Conference, the Housing Trust Foundation Board of Directors authorizes scholarships to be issued for City Council Board Members’ staff members who focus on housing related policy issues to attend the Conference which will allow City Council Board Members to benefit from the Conference’s training and resources through the attendance of their staff. Section 3. The Board of Directors for the San Antonio Housing Trust Foundation hereby authorizes the Executive Director to disburse such Scholarship funds as needed. Section 4. If any section, subsection, clause, phrase or provision of the 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 5. This Resolution shall be cumulative of all provisions of the Housing Trust Foundation, 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 6. 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, al as required by Chapter 551, as amended, Texas Government Code. Section 7. 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 , 2023. SIGNED: Councilwoman Adriana Rocha Garcia President ATTEST: Jordan Ghawi, Secretary