Title
Consider/Discuss/Act on a Resolution of the McKinney Housing Finance Corporation Authorizing the issuance of the "McKinney Housing Finance Corporation Multifamily Housing Revenue Bonds (Skyway Villas), Series 2026," approving a Trust Indenture, a Loan Agreement, a Regulatory Agreement, a Bond Purchase Agreement, and an Official Statement; and authorizing the execution of documents and instruments necessary or convenient to carry out the issuance of the bonds, including the adoption of a resolution pertaining thereto.
Summary
COUNCIL GOAL: Goal#1. 1: Provide a Strong Economy by Creating a Global Housing Strategy and Facilitating a Balance Between Industrial, Commercial, Residential, and Open Space.
MEETING DATE: July 24, 2026
DEPARTMENT: Housing and Community Development
CONTACT: Cristel Todd, Affordable Housing Administrator
Margaret Li, Housing and Community Development Director
RECOMMENDED BOARD ACTION:
* Approve Resolution
ITEM SUMMARY:
* Approval of a resolution authorizing the issuance, sale, and delivery of McKinney Housing Finance Corporation (MHFC) Multifamily Housing Revenue Bonds (Skyway Villas), Series 2026.
* Proceeds from the Bonds will fund the acquisition, rehabilitation, and equipping of Skyway Villas, an existing affordable multifamily residential development located in McKinney, Collin County, Texas.
* The issuance of the Bonds in one or more series and in the aggregate maximum principal amount of not to exceed $52,000,000.
BACKGROUND INFORMATION:
* On April 21, 2026, the City Council approved a Resolution of Support for the proposed acquisition and rehabilitation of the existing affordable housing development known as Skyway Villas.
* On September 12, 2025, the MHFC board approved the submission of an application for allocation of Private Activity Bonds for the Skyway Villas Project in an aggregate amount not to exceed $52,000,000.
* Skyway Villas is an existing affordable housing project that originally received Low I...
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