After implementing a successful, developer-friendly housing policy that has yielded more than 6,800 market-rate housing units since January, the city of San Antonio is now turning its focus to increasing affordable housing. The goal of the strategy is to produce or preserve over 18,000 affordable homes as well as help people stay in affordable housing over the next 10-years.
The city is taking a comprehensive, coordinated approach in which relevant city departments, outside agencies, such as the San Antonio Housing Authority, and nonprofit organizations, will work together to come up with real world solutions to increasing affordable housing that work in San Antonio. The plan introduces new programs, such as tax abatements for eligible homeowners, and a vacant home rehab program, where the city owns the home while renovations are happening; while also adjusting existing programs, such as reducing the rents developers will have to charge when they are in pursuit of 4 percent low-income housing tax credits.
See the presentation by the City of San Antonio presented this week.