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San Antonio Housing Trust Public Facility Corporation

Regular Meeting

San Antonio, TX · April 21, 2023

Agenda

Agenda

Posted on 04/17/2023 at 9:34 AM AGENDA A Regular Board Meeting for: SAN ANTONIO HOUSING TRUST PUBLIC FACILITY 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/85969694621?pwd=QUZ4Kzg0NkNwOFoweW80aGxHdThSUT09 DIAL-IN NUMBER: 1-346-248-7799 MEETING ID: 859 6969 4621 PASSWORD: 731593 On Friday, April 21, 2023, beginning at 2:00 p.m. 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 March 17, 2023. 3. Public Comment – Interested speakers will have 3 minutes each to address the Board on agenda items or housing policy related matters. 4. Discussion and possible action to approve a Resolution authorizing an amendment to the Red Berry Master Agreement to increase the funding from the City of San Antonio in the amount not to exceed $250,000 to complete the Red Berry Hike and Bike Trail connection to Salado Creek, extending time to complete project and authorizing the Assistant Secretary to negotiate other matters in connection therewith. 5. Executive Session: The San Antonio Housing Trust PFC will meet in Executive Session pursuant to Texas Government Code Sections 551.072 Real Estate and 551.071 Consultation with Attorney to receive advice on pending litigation matters and deliberate and discuss the acquisitions of parcels of property as follows: a. Cause number 2023CI06754 in Bexar County District Court, Weibracht v. Mission DG, Ltd. b. Update on land acquisitions and negotiations for purpose of future affordable, sustainable multifamily development Reconvene into open session and possible action related to any matters as discussed in Executive Session. *Executive Session The San Antonio Housing Trust Public Facility Corporation 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 Page 1 of 10 (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 SAN ANTONIO HOUSING TRUST PUBLIC FACILITY 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 Castillo (District 5), Council Member John Courage (District 9), Jane Paccione, Jordan Ghawi 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 accommodations 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. Page 2 of 10 San Antonio Housing Trust Public Facility Corporation Agenda Item 2 This item includes the approval of minutes from the March 17, 2023, meeting. Page 3 of 10 SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORPORATION OFFICIAL MEETING MINUTES DATE: March 17, 2023 TIME AND PLACE: The Public Facility Corporation met in session at 2:03 p.m., via Zoom and in person at 114 W Commerce, San Antonio, TX 78205. PRESENT: Councilwoman Adriana Rocha, Antoinette Brumfield, Mark Carmona, Eric Cooper, Councilwoman Teri Castillo, Councilwoman Phyllis Viagran, Jordan Ghawi, Rachell Hathaway, Councilman John Courage, Marinella Murillo, Jane Pacione and Councilman Jalen McKee-Rodriguez. ABSENT: None. 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- Sr. Administrative Assistant San Antonio Housing Trust Foundation; Ruben Lizalde- D3; Edward Muniga- D4; Justin Renteria- D5; Derek Roberts- D9; Summer Greathouse- Attorney Bracewell; Clarissa Rodriguez- Attorney DNRBZ; Jose Gonzales- Cornerstone Housing Group; Jill Flynn- Cornerstone Housing Group; Robbye Meyer- Cornerstone Casey Cameron- Tirol Housing; John Lilly- Eenhoorn Development, LLC; Allison Beaver- NHSD; Mirla Lopez- SEFLA Languages Interpreter 1. CALL TO ORDER AND ROLL CALL: The meeting was called to order by President Adriana Rocha Garcia and roll call was called by Lauren Bejaran. 2. DISCUSSION AND POSSIBLE ACTION TO APPROVE MINUTES OF FEBRUARY 17, 2023. Councilwoman Phyllis Viagran, and Councilwoman Teri Castillo seconded for approval of the February 17, 2023, minutes with the noted corrections. AYES: 6 NAYS: ABSTAINED: THE MOTION PASSED. Eric Cooper joins the SAHT PFC Meeting at 2:07 p.m. 3. CITIZENS TO BE HEARD-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. Page 4 of 10 NONE. NO ACTION WAS TAKEN. 4. BRIEFING AND PRESENTATION OF THE COMBINED 5-YEAR FINANCIAL FORECAST FOR THE SAHT ENTITIES. Pete Alanis briefed the board about the 5-Year Financial Forecast for the SAHT Entities. Councilman Courage asked if the 10-year corpus for the SAHT was included in the 5-Year Financial Plan. Pete stated the City of San Antonio owns the SAHT funds. The SAHT recommends to the city how the money should be spent and not invested. Rachell Hathaway asked Pete if the 5-Year Forecast covers deals that do not reach completion. Pete stated the Forecast does include incoming cash flows and shows the cash flow amounts if the plans do not reach completion. Councilman Jalen McKee-Rodriguez joins the SAHT PFC Meeting at 2:15 p.m. NO ACTION TAKEN. 5. RESOLUTION INDUCING THE LEGACY SENIOR RESIDENCES TRANSACTION; AND AUTHORIZING ALL FILINGS AND AGREEMENTS WITH TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS IN CONNECTION WITH APPLICATIONS FOR LOW INCOME HOUSING TAX CREDITS; AND AUTHORIZING THE NEGOTIATION AND EXECUTION OF A MEMORANDUM OF UNDERSTANDING; AND OTHER MATTERS IN CONNECTION THEREWITH. Pete Alanis briefed the board about the Legacy Senior Residences project partnership between the SAHT PFC and Cornerstone Housing Group. MINUTES COMMISSION ACTION: Councilwoman Phyllis Viagran motioned, and Councilwoman Teri Castillo seconded to approve Item #5 for the Legacy Senior Residences. AYES: 6 NAYS: ABSTAINED: THE MOTION PASSED. 6. RESOLUTION INDUCING THE PAVILION AT CULEBRA APARTMENTS TRANSACTION; AND AUTHORIZING ALL FILINGS AND AGREEMENTS WITH TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS IN CONNECTION WITH APPLICATIONS FOR LOW INCOME HOUSING TAX CREDITS; AND AUTHORIZING THE NEGOTIATION AND EXECUTION OF A MEMORANDUM OF UNDERSTANDING; AND OTHER MATTERS IN CONNECTION THEREWITH. Pete Alanis briefed the board on the Tirol Housing, LLC. Partnership Project, Pavilion at Culebra Page 5 of 10 Transaction. MINUTES COMMISSION ACTION: Councilwoman Teri Castillo motioned, and Councilwoman Phyllis Viagran to approve Item #6 for The Pavilion at Culebra Apartments. AYES: 6 NAYS: ABSTAINED: THE MOTION PASSED. 7. RESOLUTION AUTHORIZING AMENDMENTS FOR THE LIV AT WESTOVER HILLS APARTMENTS, INCLUDING RESTRUCTURING THE DEBT FOR THE PROJECT, AUTHORIZING ADDITIONAL DEBT, AUTHORIZING THE SALE OF THE LIMITED PARTNER INTEREST OF MISSION DEVELOPMENT GROUP IN THE PARTNERSHIP AND RELATED AMENDMENTS TO THE AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP AND OTHER PROJECT DOCUMENTS, AND OTHER MATTERS IN CONNECTION THEREWITH. Pete Alanis briefed the board on the proposed sale of the limited partner interest of Mission Development Group for The Liv at Westover Hills Apartments. MINUTES COMMISSION ACTION: Councilwoman Phyllis Viagran motioned, and Councilman John Courage to approve Item #7 for The Liv at Westover Hills Apartments. AYES: 6 NAYS: ABSTAINED: THE MOTION PASSED. 8. RESOLUTION AUTHORIZING AMENDMENTS FOR THE ST. JOHN’S APARTMENTS, INCLUDING RESTRUCTURING THE PERMANENT DEBT FOR THE PROJECT, AUTHORIZING ADDITIONAL DEBT, AUTHORIZING A LOAN FROM SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORPORATION TO THE PROJECT IN AN AMOUNT NOT TO EXCEED $500,000, AUTHORIZING AMENDMENTS TO THE AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP AND OTHER PROJECT DOCUMENTS, AND OTHER MATTERS IN CONNECTION THEREWITH. Pete Alanis briefed to the board on the proposed amendments for restructuring the permanent debt and authorizing a loan from the SAHT PFC for the St. John’s Apartments. MINUTES COMMISSION ACTION: Councilwoman Phyllis Viagran motioned, and Councilwoman Teri Castillo seconded to approve Item #8 for the St. John’s Apartments. AYES: 6 NAYS: ABSTAINED: THE MOTION PASSED. Page 6 of 10 9. BRIEFING AND PRESENTATION ON LEGISLATIVE PRIORITIES FOR THE PFC RELATED TO THE ONGOING 2023 TEXAS LEGISLATIVE SESSION. Pete Alanis briefed the board on the PFC’s legislative priorities for the ongoing 2023 Texas Legislative Session. NO ACTION TAKEN. 10. EXECUTIVE SESSION: THE SAN ANTONIO HOUSING TRUST WILL BE MEETING IN EXECUTIVE SESSION PURSUANT TO TEXAS GOVERNMENT CODE SECTIONS 551.072 REAL ESTATE AND 551.071 CONSULTATION WITH ATTORNEY TO RECEIVE ADVICE AND DELIBERATE AND DISCUSS THE ACQUISITIONS OF PARCELS OF PROPERTY FOR PURPOSE OF FUTURE AFFORDABLE, SUSTAINABLE MULTIFAMILY DEVELOPMENT. A. RECONVENE INTO OPEN SESSION AND DISCUSSION AND POSSIBLE ACTION RELATED TO ANY ITEMS DISCUSSED IN EXECUTIVE SESSION INCLUDING A RESOLUTION APPROVING BUDGET AMENDMENTS FOR THE SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORPORATION FOR THE FISCAL YEAR 2023 FOR VARIOUS EXPENDITURES RELATED TO PROFESSIONAL FEES. President Adriana Rocha Garcia convened the SAHT PFC Meeting into Executive Session at 3:37 p.m. to discuss Item Number 10. 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), and 551.087 (economic development). ANY ITEM DISCUSSED IN THE EXECUTIVE SESSION MAY BE ACTED ON IN OPEN SESSION. President Adriana Rocha Garcia reconvened the SAHT PFC Meeting into Open Session at 4:02 p.m. No action was taken place during the Executive Session. MINUTES COMMISSION ACTION: Councilman McKee-Rodriguez motioned, and Councilwoman Phyllis Viagran seconded to approve a resolution approving budget amendment for the San Antonio Housing Trust Public Facility Corporation for the Fiscal Year 2023 for various expenditures related to Professional Fees. AYES: 6 NAYS: ABSTAINED: THE MOTION PASSED. 11. ADJOURNMENT President Adriana Rocha Garcia adjourned the meeting. There being no further business, the meeting adjourned at 4:04 p.m. Page 7 of 10 San Antonio Housing Trust Public Facility Corporation 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. To sign up for Public Comment please call 210‐735‐2772 24 hours prior to this meeting 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 política 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 8 of 10 San Antonio Housing Trust Public Facility AGENDA ITEM 4 POSSIBLE ACTION TO AMEND RED BERRY AGREEMENT TO INCREASE THE FUNDING FROM THE CITY OF SAN ANTONIO IN THE AMOUNT NOT TO EXCEED $250,000 TO COMPLETE THE RED BERRY HIKE AND BIKE TRAIL CONNECTION TO SALADO CREEK. The SAHT PFC was the vehicle used to spur on the redevelopment of the 82-acre Red Berry site which included a 330-unit apartment community, construction of a 160,000 sq ft headquarters for the RK Group, and a historic renovation of the Red Berry Mansion. The project also included the installation of the necessary public infrastructure, lake stabilization, and new Hike and Bike Pedestrian connection to the Salado Creek trail system. All phases of the project were completed, except for the installation of the Hike and Bike Trail. In August 2021, the PFC requested and received $1.2M in additional TIRZ funding which was at the time, derived using market costs on labor and materials. As conditions changed and bids placed throughout the year, costs substantially increased. Bridge Brothers, the pedestrian bridge manufacturer had commenced fabrication however material procurements were affected by force majeure issues from market disruptions caused by COVID. During that time, an RFP for concrete companies went out to install the abutments for the bridge. Additional Geotech borings required an alternative pier installation method due to hold back water penetration into the pier footings. Ken Concrete, who was retained to complete the work will not mobilize until funds have been released. Fiscal Impact The SAHT PFC anticipates needing an added $243,400 in funding and an additional 60 days to complete once funding is secure to complete the bridge installation. An itemized list of the revised budget, additional scope, and timeline was provided to the city. City staff have identified a source of ICIF funds and are committed to covering the cost. Recommendation Staff recommends approving resolution to amend the Red Berry Agreement to increase the funding from the City of San Antonio in the amount not to exceed $250,000 to complete the Red Berry Hike and Bike Trail conneciton to Salado Creek. Attachments Resolution Amended Agreement Page 9 of 10 SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORPORATION RESOLUTION NO. _______________ A RESOLUTION BY THE BOARD OF DIRECTORS AUTHORIZING THE AMENDMENT OF THE RED BERRY MASTER DEVELOPMENT AGREEMENT DATED AUGUST 6, 2018 BY INCREASING THE AMOUNT OF CONTRIBUTION FROM THE CITY OF SAN ANTONIO IN AN AMOUNT NOT TO EXCEED $250,000.00 AND BY EXTENDING THE TIME TO COMPLETE THE PROJECT BY SIXTY DAYS; AUTHORIZING THE SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORPORATION TO ADVANCE THE AMOUNT OF CITY CONTRIBUTION INCREASE TO THE PROJECT IN THE INTERESTS OF ECONOMIC AND EFFICIENT PROJECT COMPLETION, WITH REPAYMENT OF SAID AMOUNT TO BE MADE TO THE CORPORATION BY THE CITY; AUTHORIZING THE ASSISTANT SECRETARY TO NEGOTIATE AND EXECUTE THE AMENDMENT TO SAID AGREEMENT WITH THE PROVISIONS AS PROVIDED HEREIN; AND ADDRESSING RELATED MATTERS. RECITALS WHEREAS, on August 6, 2018, the San Antonio Housing Trust Public Facility Corporation (sometimes “PFC”) entered into a Master Development Agreement (“Agreement”) with the City of San Antonio (sometimes “CITY”) (and with acknowledgement by the San Antonio Inner City TIRZ Board #11) for the development of approximately 82 acres of real property, known as the “Red Berry” site; the development of which included the historic renovation of the Red Berry Mansion, the development of a 330-unit apartment community, other infrastructure and improvements, and the installation of a new “Hike and Bike” trail and connection to the Salado Creek trail system (the “Project”); and WHEREAS, all phases of the Project have been completed, except for the installation of the Hike and Bike trail; and WHEREAS, the PFC finds that an additional CITY contribution in an amount not to exceed $250,000.00 is necessary for the Project completion (the “Additional City Contribution”); and WHEREAS, given endemic market and cost increases for construction and fabrication materials which are needed to complete the Project, the PFC is willing to advance the Additional City Contribution amount as provided herein in order to hold current pricing and mitigate any market cost increases for materials, and to finalize the Project as expeditiously as possible; and WHEREAS, the PFC understands that the CITY has located a funding source (Inner City Incentive Funds) from which it can reimburse the advance by the PFC of the Additional City Contribution; and WHEREAS, in consideration of the aforementioned findings and understandings, the Board of Directors hereby finds that it is in the best interests of the community to amend the Agreement as provided herein in order to finish the Project in the most cost-effective and timely manner possible; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF 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 of the San Antonio Housing Trust Foundation, Inc. hereby authorizes the Assistant Secretary and staff to negotiate, finalize, and execute an amendment to the Agreement (attached herein as Exhibit A) by (1) providing for the Additional City Contribution in an amount not to exceed $250,000.00; (2) provide for the advance of the Additional City Contribution amount for Project completion by the PFC, so long as the CITY repays said amount to the PFC no later than sixty days from the date of this Resolution; and (3) allow an additional sixty days from the date of this Resolution in order to complete the Project. Section 3. All resolutions, or parts thereof, which are in conflict or inconsistent with any provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions of this Resolution shall be and remain controlling as to the matters resolved herein. Section 4. This Resolution shall be construed and enforced in accordance with the laws of the State of Texas and the United States of America. Section 5. If any provision of this Resolution or the application thereof to any person or circumstance shall be held to be invalid, the remainder of this Resolution and the application of such provision to other persons and circumstances shall nevertheless be valid, and the Board of Directors hereby declares that this Resolution would have been enacted without such invalid provision. Section 6. 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, Texas Government Code, as amended. Section 7. This Resolution shall be in force and effect from and after its final passage, and it is so resolved. PASSED AND APPROVED this day of , 2023. SIGNED: Councilwoman Adriana Rocha Garica President ATTEST: Jordan Ghawi, Secretary EXHIBIT “A” (SEE ATTACHED AMENDED AGREEMENT) RED BERRY ESTATE FIRST AMENDMENT TO MASTER DEVELOPMENT AGREEMENT April __, 2023 Page 1 of 3 FIRST AMENDMENT TO RED BERRY ESTATE MASTER DEVELOPMENT AGREEMENT This First Amendment to Red Berry Estate Master Development Agreement (hereinafter referred to as this “First Amendment”) is made and entered into by and between the City of San Antonio (the “CITY”), a municipal corporation of the State of Texas, acting by and through its City Manager or her designee, and the San Antonio Housing Trust Public Facility Corporation, a Texas public facility corporation, (hereinafter referred to as “DEVELOPER”) and who together may be referred to herein as the “Parties.” RECITALS WHEREAS, the CITY entered into a Red Berry Master Development Agreement on or about____ whereby the DEVELOPER facilitated the redevelopment of Property, including the Mansion in partnership with the RK Group, the NRP Group, and Casey Development (the “Agreement”); and WHEREAS, the CITY provided DEVELOPER with an Inner City Incentive Fund Grant in the amount of FIVE HUNDRED FORTY THOUSAND FIVE HUNDRED SEVENTY NINE DOLLARS AND NO CENTS ($540,579.00) (the “Incentive Funds”) whose purpose was to provide an economic incentive to the Improvements on the Property by supporting public infrastructure costs, including design and delivery; and WHEREAS, due to the rising costs of material and COVID-related supply disruption, the DEVELOPER has requested from the CITY additional funds in the amount of TWO HUNDRED FORTY-THREE THOUSAND FOUR HUNDRED DOLLARS AND NO CENTS ($243,400); and WHEREAS, the CITY has identified additional available funds in the form of Inner-City Incentive Funds to support the continuation of the Project in accordance with the existing terms and conditions of the Agreement; and WHEREAS, the CITY Council has authorized the City Manager or her designee to enter into this Amendment in accordance with City Ordinance 2017-10-12-0791, passed and approved on October 12, 2017; and NOW, THEREFORE, in consideration of the premises, covenants, agreements, and obligations contained herein, the Parties hereto agree to amend the Agreement as follows: A. AMENDMENT DEVELOPER shall undertake the Project which is anticipated to promote local economic development and to stimulate business and commercial activity in the CITY and the TIRZ. The CITY and TIRZ are supporting the Project to provide funds to be used to defer costs associated with the Project and to facilitate certain improvements to the Property. 1. Inner City Incentive Grant. The CITY is providing DEVELOPER with an additional Inner City Incentive Fund Grant in the amount of TWO HUNDRED FORTY-THREE THOUSAND FOUR HUNDRED DOLLARS AND NO CENTS ($243,400) in order to provide necessary economic support for the added costs of completing the bridge installation on the Property by supporting public infrastructure costs, including design and delivery. The Incentive Funds made available to DEVELOPER through this Agreement are made solely from lawfully available funds that have been 42579694.2 appropriated by CITY. A. Other Terms. All other terms, conditions and provisions of the Agreement are hereby ratified and confirmed and shall remain in full force and effect as of the date thereof, except as expressly modified hereby. B. Counterparts. This Amendment may be executed by facsimile, pdf or electronic transmission in two or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute but one and the same instrument. C. Binding Effect. This Amendment shall be binding upon and inure to the benefit of City and Developer and their respective successors and assigns. WITNESS OUR HANDS, EFFECTIVE as of ______________ ____, 2023 (the “Effective Date”): CITY: SAN ANTONIO HOUSING TRUST PUBLIC FACILITY CORPORATION: _______________________________ _________________________________ Lori Houston Pedro Alanis Assistant City Manager Executive Director APPROVED AS TO FORM: ________________________________ City Attorney Page 3 of 3