City of Austin
In November, residents of the City of Austin passed a $250 million bond for affordable housing, to serve more families. To pursue the City’s affordable housing goals outlined in the Austin Strategic Housing Blueprint, Austin’s City Council passed Resolution No. 20190221-027 allowing affordable housing developers to waive or reduce restrictions to compatibility and parking standards as well as unit height requirements. This will allow better leverage of bond dollars to create more income-restricted housing units across the city.
To learn more about Austin’s new bonus program for affordable housing developments, please click here.
City of Dallas
The City of Dallas is restarting its land bank program. Through its Urban Land Bank Demonstration Program, the Dallas Housing Acquisition and Development Corporation (DHADC) will facilitate the development of new single-family homeownership units, multifamily rental units, and lease-purchase units for low- and moderate-income households. In addition, commercial development is allowed if the developments complement the City’s affordable housing strategy. The DHADC’s acquisition strategy for FY 2018-19 is to:
- acquire eligible parcels zoned or suitable for residential use to reduce development costs;
- identify eligible parcels that are available, acquire parcels zoned for residential use or suitable for residential use that are located within the Emerging Market and Stabilization Reinvestment Strategy Areas (“RSAs”) adopted by the Dallas City Council; and
- acquire eligible parcels zoned for residential or commercial use that are located near existing or planned mixed-income housing developments, City-owned land, or City-supported economic development projects that support of the City’s affordable housing strategy.
Dallas’ Comprehensive Housing Policy set annual production goals at 3,733 home ownership units and 2,933 rental units, serving households with incomes ranging from 30% to 120% AMI.
To learn more about Dallas’ Land Bank Program, please click here.
City of Houston
On Wednesday, Houston’s City Council approved an additional $100 million in new federal housing aid for Hurricane Harvey recovery efforts. This comes on the heels of the city receiving over $1 billion in federal CDBG-DR funding from HUD. The money will be distributed to five housing recovery initiatives:
- Home Ownership Assistance Program – $35 Million
- Multifamily Rental Program – $28 Million
- Home Acquisition – $18 Million
- Program Administration – $10 million
- Rental Properties Rehabilitation – ~ $9 Million
For the multifamily program, the city aims to construct 1,500 to 3,000 affordable rental units over the next six years. The city’s Housing and Community Development Department will oversee the distribution of these funds and has recently updated their State of Texas Plan for Disaster Recovery: Hurricane Harvey – Round 1 Amendment #3.
To learn more about Houston’s Hurricane Harvey Recovery Efforts, please click here.