A bond referendum on the November ballot would help Austin increase its supply of affordable housing.
Jared Brey reports on a November bond vote that would dedicate $250 million to affordable housing in Austin. Proposition A is the affordable housing piece of a larger $925 million bond package. Brey says initial plans by the Bond Election Advisory Task Force looked to put $85 million toward affordable housing, but over time a more ambitious plan emerged to tackle the increasing lack of affordable housing in the city.
"If approved, most of the money would be split between land acquisition for future affordable housing development and a rental assistance program, with $28 million each for affordable homeownership and home repair programs," says Brey. The city wants to build 135,000 affordable housing units over the next decade, as outlined in its Strategic Housing Blueprint.
A separate task force is working to address racial segregation and displacement in the city. Mayor Steve Adler has said that $100 million of the housing bond would go toward acquiring land for affordable housing projects in parts of the city facing the threat of gentrification.
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