2025-R-236
A Resolution of the City of Laredo, Texas, authorizing the City Manager to execute all necessary documents to purchase the Hamilton Apartments from Hamilton Housing Partners Ltd., A Texas limited partnership owned by the Laredo Housing Finance Corporation, its general partner. The property is located in Lot 1 and Lot 10, and the West 35.55 Feet of Lots 2 and 9, Block 73, Western Division, save and except those portions of Lots 1 and 2 described in volume 1527, page 134, real property records of Webb County, Texas, located at 815 Salinas Avenue, Laredo, Texas, and more particularly described and depicted in Exhibit “A.” The purchase price is the existing balance of a HUD note, executed on November 17, 2016, under project no. 115-11250, with an original value of $6,375,500.00 and an approximate current balance of $5,300,000.00 which includes accrued interest and applicable penalties. This is a HUD-Financed Multifamily Project, and the note is subject to a U.S. Department of Housing and Urban Development (HUD) Regulatory Agreement for Multifamily Projects. Funding is available in the Capital Improvement Fund. Providing for an effective date.
What this record is
- Amount
- $6.38M
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- purchase
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Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- City Council
- Requested by
- Community Development
- Introduced
- September 5, 2025
- On agenda
- October 6, 2025
Where it was heard
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