Over a month after the Austin voters rejected a $78.3 million bond proposal for low-income housing, the city council members are attempting to come up with a new way of spending money on affordable housing for those in need.
The council unanimously agreed that city management must find between $8 to $10 million within the city budget for low-income housing. Council Members Laura Morrison and Kathie Tovo stated that the money could leverage $30 million in state and federal grants.
The funds would be allocated to “shovel” ready projects, according to a city staff member. Those projects involve apartment complexes that could be built by either nonprofit or private organization.
– SB Wire