Here is a background story from the Austin American-Statesman.
From the City of Austin’s website:
Ballot Language: The issuance of $78,300,000 housing bonds and notes and the levy of a tax sufficient to pay for the bonds and notes.
If approved, this proposition would allow the City to continue to fund the development of affordable rental and ownership housing, preserve existing affordable housing stock, and create transitional and permanent supportive housing for the homeless. The proposition would allow the City to provide funding for construction, renovation and repair of affordable housing, including infrastructure design and development. No increase in this year’s property tax rate is anticipated as a result of passage of this proposition.
The types of projects and programs to be undertaken as part of this bond proposition, if approved, may include but are not limited to the following:
Rental Housing Development Assistance
Create rental housing affordable to low- and moderate-income persons by providing funding for grants and loans to qualified non-profit and for-profit developers. The grants and loans could be used to acquire property, design and develop infrastructure, and construct new or rehabilitate existing housing, including permanent supportive housing, and other housing for individuals with special needs.
Home Ownership Programs
Create affordable ownership opportunities by providing funding for grants and loans to qualified non-profit and for-profit developers. The grants and loans could be used to acquire property, design and develop infrastructure, and construct new or rehabilitate existing housing that can be purchased at prices affordable to low- and moderate-income persons, and support development of community land trusts.
Transitional and Permanent Supportive Housing
Provide funding for housing individuals with special needs that, when combined with supportive services, can help them stabilize and work toward self-sufficiency. Transitional housing is designed to house persons for a limited period of time, typically no more than 24 months. Permanent Supportive Housing offers long-term solutions for persons who have experienced barriers to housing stability.
Home Repair
Provide funding to address substandard or hazardous housing conditions for low- and moderate-income homeowners, thereby alleviating hazards and preserving affordable housing stock. Funding could also provide renters with disabilities with accessibility modifications to make the residences more livable. Typical modifications include widened doors, wheelchair ramps, improved accessibility in bathrooms and installation of grab bars and handrails.
Infrastructure Improvement Projects
Provide funding for design and construction of infrastructure related to development with an affordable housing component.
