Austin City Council has approved $15 million for eight new housing developments resulting in more than 300 income-restricted rental and ownership units—296 of which target households making less than 50 percent of the Median Family Income (MFI), or $47,300 annual income for a family of four. Fifty units will target households below 30 percent of MFI.
Funding for these developments comes from a variety of local and federal sources. More than $5.8 million comes from the $250 million Affordable Housing Bond program, approved by voters in 2018. An additional $7 million comes from fees collected from developer incentive programs, while the remaining $2.2 million comes from federal grant funding from the U.S. Department of Housing and Urban Development’s HOME program.
"With this investment, we are making good on the 2018 Housing Bond commitment to help expand affordability to our teachers, hospitality employees, musicians, and healthcare and other workers who make this city great,” said Mayor Steve Adler.
These developments were evaluated under the Neighborhood Housing and Community Development Department’s (NHCD) new quarterly application process for Housing Development Assistance (HDA). Under this process, NHCD received 18 applications for HDA funding in the second quarter of 2019. After extensive review of the applications by NHCD staff, the independent Housing Investment Review Committee, and the department’s Executive Team, these eight projects were identified.
The projects approved for funding by Council include:
“This funding will build 143 Supportive Housing Units (88 units at Foundation Village; 55 units at Burnet Place), which will provide substantial on-site health and mental health services to residents who were previously homeless or are at-risk of homelessness,” said Truelove.
Burnet Place is being built by nonprofit Project Transitions and will house low-income individuals diagnosed with HIV/AIDs, and will provide services to guide residents through a comprehensive array of health and social services. . Foundation Village is being constructed by nonprofit builder Foundation Communities. The development will include housing opportunities for low-income families with children at risk of homelessness.
Additionally, the projects will make available 30 units under the Section 811 Project Rental Assistance (PRA) program, which provides rental assistance for extremely low-income persons with disabilities linked with long term services. The program is made possible through a partnership between Texas Department of Housing Community Affairs, and the Texas Health and Human Services Commission (HHSC) and specifically targets people with disabilities living in institutions; people with serious mental illness; and youth with disabilities exiting foster care.
“Council’s approval demonstrates a continued commitment to addressing the issues of affordable housing in Austin,” said Truelove. “By leveraging the City’s resources in collaboration with community nonprofit and for-profit developers, community advocates, and service providers, we continue to make progress.”
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