Richardson City Council members will hear Monday, Oct. 19, how the city could form a Housing Finance Corporation and a Public Facilities Corporation, two kinds of entities that city staff say can be used for new construction and rehabilitation of rental housing.
The item leads the agenda for the 6 p.m. work session, which the city posted Tuesday. Chief Operating Officer Kent Pfeil is the staff lead, and the city's consultants, Hilltop Securities and the law firm Chapman and Cutler, are scheduled to give an overview and lead the discussion.
The staff summary ties the discussion to the city's 2025 housing study, which found a need for more well-maintained rental units that lower-wage workers can afford.
The financial considerations of forming either entity, and the economic incentives they offer, are to be covered in the presentation; the summary does not list dollar figures, a site or a project, and it does not ask for a vote.
Where the housing study left off
The study, a housing needs assessment by the consultant GrowAmerica that the city commissioned in late 2024, was first presented to the council in October 2025, according to the city's Richardson Today news site. It identified three needs: helping older, low-income homeowners age in place safely, more reasonably priced homes for sale to families with children, and the rental need cited in Monday's agenda.