Authorize an amendment to Resolution No. 21-1809, previously approved on November 10, 2021 to (1) require all homes to be sold to eligible homebuyers earning at or below 80% of the Area Median Income; and (2) amend the term of the amended and restated conditional loan agreement (Agreement) to two years from the execution date of the Agreement, by which date all homes be constructed and sold - Financing: No cost consideration to the City *In alignment with Dallas Housing Resource Catalog.

This resolution amends Resolution No. 21-1809 to modify the terms for the sale of eight townhomes at 4850 Brashear Street (Spring Avenue Redevelopment Project) in the South Dallas/Greater Fair Park Community Revitalization Plan area.

Key Changes:

• Affordability Requirement: Homes must now be sold to eligible homebuyers earning at or below 80% of the Area Median Income (AMI), a reduction from the previous 140% AMI.
• Loan Agreement Term: The term of the conditional loan agreement is extended to two years from the execution date, by which all homes must be constructed and sold.

This action aligns with the City's affordable housing goals and the newly created Office of Housing and Community Empowerment (OHCE). The project is a partnership with the South Dallas/Fair Park Innercity Community Development Corporation (ICDC). No cost consideration is to the City.