Palo Verde Senior Apartments Added $1 Million Incentive (26-1323)
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Ordinance Authorizing the First Amendment to the Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, increasing the incentive amount by $1,000,000.00, totaling $2,000,000.00 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue and appropriating $1,000,000.00 from the Type B Affordable Housing Fund in FY 2026.
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Obtain the amended affordable housing loan agreement for Palo Verde
Why now: Ordinance Enactment No. 034014 passed second reading on September 8, 2026, increasing the incentive to $2,000,000 and appropriating $1,000,000 from the Type B Affordable Housing Fund, but the record shows no amendment terms.
What to do: Pull the executed First Amendment to the loan agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP. Check whether the added $1,000,000 carries new disbursement conditions, affordability covenants, or repayment terms, and whether the agreement was signed after Enactment No. 034014.
Act before: After the next material record update
Ask why senior apartment incentive was pulled, then doubled
Why now: The item was withdrawn by staff and postponed to September 1, passed first reading on consent, then passed second reading 8-0 with Mayor Guajardo abstaining, bringing the total incentive to $2,000,000 for 75 units.
What to do: Request the staff memo or agenda materials explaining why staff withdrew the Palo Verde Senior Apartments incentive increase from the consent agenda on August 25 and what changed before it returned. Also ask why the Mayor abstained, since the public record gives no reason.
Act before: After the requested records are produced
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Ordinance Authorizing the First Amendment to the Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, increasing the incentive amount by $1,000,000.00, totaling $2,000,000.00 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue and appropriating $1,000,000.00 from the Type B Affordable Housing Fund in FY 2026.
Vote: 8 for, 0 against
approve ordinance on second reading (consent agenda)
Approved via consent agenda motion; Mayor Guajardo abstained
Ordinance Authorizing the First Amendment to the Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, increasing the incentive amount by $1,000,000.00, totaling $2,000,000.00 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue and appropriating $1,000,000.00 from the Type B Affordable Housing Fund in FY 2026.
Vote: 0 for, 0 against
approve ordinance on first reading as part of the consent agenda
Approved in the consent agenda vote. These pages show no separate tally for this item.
Ordinance Authorizing the First Amendment to the Affordable Housing Project Loan Agreement between the Corpus Christi B Corporation and Corpus Christi Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments, increasing the incentive amount by $1,000,000.00, totaling $2,000,000.00 for the development of 75 affordable senior rental housing units located at 5501 Huntwick Avenue and appropriating $1,000,000.00 from the Type B Affordable Housing Fund in FY 2026.
Vote: 0 for, 0 against
postponed until September 1, 2026
Withdrawn by staff from the consent agenda; item postponed until September 1, 2026.