Palo Verde Senior Apartments Loan at Huntwick Avenue (25-2009)
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Ordinance authorizing an amended Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, in the amount of $1,000,000 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue; appropriating $1,000,000 from the Type B Affordable Housing Fund; and amending the FY 2026 Operating Budget.
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Review MPM Development's $922,320 reimbursement deal in Districts 3, 5
Context: The reimbursement agreements totaling $922,320 passed without discussion on consent at both first reading (Jan 13) and second reading (Jan 27), 9-0 each time (File 25-2009).
Recommended: Pull the water/wastewater reimbursement agreements the city signed with MPM Development LP to confirm repayment triggers and lien priority before closing on any financing or title work tied to the Districts 3 and 5 subdivisions they cover.
Ask about water reimbursement for Districts 3, 5 subdivisions
Context: Council approved MPM Development LP's water/wastewater reimbursement agreements totaling $922,320 for Districts 3 and 5 subdivisions on a 9-0 consent vote, Jan 27, 2026 (File 25-2009).
Recommended: Council just approved MPM Development LP for $922,320 in city reimbursement to cover transmission line and sewer extension costs on its Districts 3 and 5 subdivisions — developers with infrastructure-heavy projects in those districts should ask city utilities staff whether the same reimbursement mechanism is available to them.
Clarify MPM Development reimbursement count in Districts 3, 5
Context: One summary cites four agreements totaling $922,320 while another describes three agreements for the same MPM Development LP subdivisions (File 25-2009).
Recommended: The matter record describes 'four' reimbursement agreements in one summary but 'three water and wastewater infrastructure reimbursement agreements' in another — request the ordinance exhibits from the city clerk to confirm exactly how many agreements were signed and their individual amounts.
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Ordinance authorizing an amended Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, in the amount of $1,000,000 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue; appropriating $1,000,000 from the Type B Affordable Housing Fund; and amending the FY 2026 Operating Budget.
Vote: 9 for, 0 against
approve amended Affordable Housing Project Loan Agreement for Palo Verde Senior Apartments
Ordinance authorizing an amended Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, in the amount of $1,000,000 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue; appropriating $1,000,000 from the Type B Affordable Housing Fund; and amending the FY 2026 Operating Budget.
Vote: 9 for, 0 against
approve ordinance for amended Affordable Housing Project Loan Agreement for Palo Verde Senior Apartments, $1,000,000 (first reading)