The board of the Texas State Affordable Housing Corporation meets Oct. 20 to take the opening step toward a new round of mortgage bonds — the borrowing that pays for the below-market home loans and down-payment grants the corporation offers Texans who cannot clear a conventional mortgage on their own.
The item on the agenda is a reimbursement resolution. It is a piece of tax-law housekeeping with real meaning: by declaring now that it expects to pay itself back out of a future bond sale, the board preserves its ability to spend money on loans in the months before those bonds are actually sold. It commits the corporation to nothing. No size, no timing and no terms appear in the posted notice, and the agenda gives no indication of when a sale would come.
The corporation is an odd piece of the state’s housing machinery and worth explaining once. The Legislature created it as a nonprofit, outside the state budget and taking no appropriation; it raises what it spends. A five-member board appointed by the governor runs it, and its reach shows up in the standing reports on this agenda — homeownership lending, apartment and development finance, and a grant fund that pays for home repairs and supportive housing services through local nonprofits. It is a separate body from the Department of Housing and Community Affairs, which is the agency that handles the state’s federal housing money.
One other contract item matters more than its title suggests. The board votes on an amended and restated master servicing and sale agreement for the bond-financed programs — the arrangement governing who collects the payments on those mortgages and what happens to the loans after they are made. David Long, the corporation’s president, opens with a report that runs to four standing items on its own: monthly financials, homeownership finance, development finance and the grant fund. Directors also review the fiscal 2026 and 2027 strategic plans, approve minutes from an Aug. 18 meeting, and reserve a closed session on personnel, real property and legal matters.
One caution for anyone planning to attend: the state’s meeting notice gives the start time as 10:30 p.m., while the agenda filed with it says 10:30 a.m.
Meeting at a glance
- When
- 10:30 AM, Tuesday, October 20, 2026, per the agenda; the notice’s own time field reads 10:30 PM. TRD 2026006025 was filed October 12 at 8:49 a.m.
- Where
- Texas State Affordable Housing Corporation offices, 6701 Shirley Ave., Austin.
- Governing body & chair
- Texas State Affordable Housing Corporation board of directors — five members appointed by the governor. Chair Lemuel Williams Jr. of Austin, named chair in January 2026.
- Format
- A single morning session: president’s report, four action tabs, then a closed session with any resulting action taken back in open meeting. Public comment is taken near the top.
- Live video
- None listed. A director may appear by videoconference, but a quorum meets in person at the Shirley Avenue office.
- Full agenda
- Secretary of State Open Meeting Viewer
Board members
- Lemuel Williams Jr. — chair; Austin; technology alliances director, Atos IT Solutions.
- Valerie Vargas Cardenas — vice chair; San Juan; mortgage banking executive.
- David Lewis — Austin; president, Montlake Capital Management.
- David A. Rassin — Houston; general counsel and compliance officer, SAExploration.
- Ernest Richards — Dallas; managing director, Cohen Rothschild PLLC.
Occupations and cities are from Governor Abbott’s own appointment releases of September 2023, September 2024 and January 2026. Officer titles and the five-member structure are from the Texas Directory listing, read October 13; the corporation’s own board page returned a 404. The chair’s listed term end there, February 1, 2027, does not match the January 2026 release, which puts all three terms announced that day at February 1, 2031 — so no term dates are printed above. The chair’s name is confirmed independently by the posted agenda’s roll-call line.