SUBJECT
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An Ordinance amending the City of Laredo Municipal Housing Fund FY 2025-2026 Annual Budget by increasing revenues and expenditures in the amount of $65,800.00, establishing the rental rates and tenant policies for the Southern Hotel Apartments located at 1210 Matamoros St., and amending the Full Time Equivalent (FTE) position listing by adding one (1) Building Maintenance Mechanic.
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PREVIOUS COUNCIL ACTION
On April 7, 2026, City Council introduced Public Hearing amending the City of Laredo Municipal Housing Fund FY 2025-2026 Annual Budget by increasing revenues and expenditures.
On June 20, 2023, City Council approved the award of the rehabilitation contract to the lowest bidder Summit Building and Design, in the amount of $6,848,896.00.
BACKGROUND
The rehabilitation of an existing City-owned historic building, known as the Southern Hotel, to provide twenty-two (22) mixed-income affordable rental housing units. Of these units, thirteen (13) will be designated for low- to moderate-income households, while nine (9) units will be rented at market rate.
This project is funded through the Community Development Block Grant (CDBG), the Section 108 Loan Program, and the HOME Investment Partnerships Program, all provided by the U.S. Department of Housing and Urban Development (HUD). As such, the rental of these units must benefit low- to moderate-income households and maintain affordable rents in accordance with HOME Program rules and regulations.
The proposed initial rental rate per month is as follows:
HOME/CDBG
Units 11 - Studio's $675.00
2 - 1 Bedroom's $725.00
Market Rate 7 - Studio's $775.00
2- 1 Bedroom's $825.00
The security deposit will be equal to one month's rent. Rental rates include water service. The rental rates are subject to change, as HOME Program rent limits are established annually by the U.S. Department of Housing and Urban Development.
VIVA LAREDO PLAN ALIG...
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