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Read. Follow. Verify.Proposed $3.2 Million Affordable Housing Loan Agreement (Withdrawn)
Record date · April 14, 2026
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What This Bill Does
This ordinance proposed a $3.2 million city loan to Tracy Justina Ricker TC LLC to support the development of approximately 108 affordable housing units. The legislation was introduced to City Council on April 14, 2026, but was subsequently withdrawn by a 19-0 vote.
The proposal would have authorized a 20-year, $3.2 million city loan for affordable housing development and required a waiver of existing city public investment policies, but the project is no longer moving forward under this ordinance.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
Tracy Justina Ricker TC LLC
The company was the intended recipient of the $3.2 million development loan.
City Residents
Residents are affected by the availability of affordable housing units and the allocation of city financial resources.
Key Facts
- The ordinance was withdrawn by the City Council on April 14, 2026, by a 19-0 vote.
- The proposal sought to authorize a $3,200,000 development loan for approximately 108 affordable housing units.
- The loan was intended to have a 20-year term.
- The project involved a 'scattered site' multifamily residential housing facility.
Show all 8 facts
- The ordinance included a waiver of the Public Investment Policy (Ord 2024-286-E) to allow for a loan type not currently authorized.
- The Chief of the Housing & Community Dev Div was designated as the contract monitor.
- The Neighborhoods Dept and Housing & Community Dev Div were assigned oversight responsibilities.
- The ordinance required subsequent legislation to appropriate the loan funds.
Frequently Asked Questions
Is this affordable housing project still happening?
What was the purpose of the $3.2 million loan?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Withdrawn.
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
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Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Policy Waiver Requirement
The ordinance explicitly required a waiver of the existing Public Investment Policy, suggesting the proposed loan terms did not meet standard city investment criteria.
Sources
webapi.legistar.com
Analysis Score
0–100- Significance40How much this matters to a regular citizen
- Controversy10Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz10Current news / social attention level
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