Bexar County commissioners who serve as directors of the county’s public facility corporation passed resolutions to approve several deals made between it and private developers seeking to build affordable housing in San Antonio.
Public facility corporation agreements approved last year include a deal made with the developers of the Tower Life Building at 310 S. St. Mary’s St.The entity that works to boost affordable housing in Bexar County made a move Tuesday to secure three projects ahead of changes that state lawmakers have proposed to the incentive program.
Under Texas law, a PFC allows developers to partner with a public entity to build multi-family “workforce” housing. is a 290-unit multifamily development situated between the Continental Hotel and the Arana building along the San Pedro Creek Culture Park. Construction is set to begin later this year.
But House Bill 2071 also has a provision that allows for agreements made prior to the effective date of the new law to be governed by the existing provisions in the law, Cohen said. The legislative session ends Monday, however, and the terms in the PFC reform bill could still change as both chambers work to come up with a final version.
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