Iglesias, president of Generation Housing Development in Austin, spoke to the City Council Tuesday evening, Aug. 13, to request a loan from City Hall.
He and Beeville Housing Authority Executive Director Viola Maldonado, asked the city to loan $147,000 to the housing authority for an extensive renovation project at the Emma Finke Villas in the 1100 block of East Kennedy Street.
Iglesias said his company would repay the city in 90 days. He said the funds would be needed to qualify for assistance in funding from the Texas Department of Community Affairs.
The developer said the city might have to borrow the funds from a bank, but his company would guarantee the loan.
However, City Manager Deborah Ballí explained that the city would be able to make the loan directly without having to go through a bank if the loan would be paid off in 90 days.
Mayor David Carabajal said the council may have to vote on the request at a later meeting because the agenda item did not call for action.
Iglesias said he had to have the funding application to the TDCA by Sept. 14.
City Attorney Frank Warner said he would have the paperwork ready for the council’s approval at its next meeting.
Iglesias said his plan would include tearing down the existing buildings at the project to the studs and rebuilding the apartments with larger porches and central air conditioning systems.
The apartments would be equipped with energy-efficient appliances including refrigerators with ice makers, dishwashers, disposals, oven ranges and water heaters.
They also would be equipped with low-flow faucets and shower heads, low-flow toilets, new cabinets and counter tops, lighting, ceiling fans and walk-in closets.
The units also would have covered entries, mini blinds and cable, telephone and high-speed Internet connections.
The project grounds would be equipped with barbecue grills and picnic tables, gazebos, a new mail kiosk and new fencing that would create a gated community.
The project will provide 76 units that would be ADA accessible and would include washer and dryer closets for each of the units.
Gary Kent is a reporter at the Bee-Picayune and can be reached at 358-2550, ext. 120, or at reporter@mySouTex.com.