Austin City Council votes to put $350 million affordable housing bond on November ballot

sharp rise

City Council members approved a measure Thursday to put the proposition — the largest in Austin's history — on the ballot. If the measure passes, the bond money will go toward building affordable housing, repairing homes for low-income people and acquiring more land for homes.Advocates say the bond is crucial for low-income residents and people experiencing homelessness to live in the city.

The proposed bond initially was for $300 million, but an amendment by Council Member Ann Kitchen increased it by $50 million"The return on our housing bond dollars is multiple-fold, and so to address our crisis in housing, I think we need to go as big as we can," Kitchen said at Thursday's meeting,"and I think $350 million would be an appropriate amount."

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Real estate sales in Austin pause but experts say it's not a bustThe Austin Board of Realtors can provide a comparison from a year ago. June 2021 had less than a month of housing inventory.
Source: fox7austin - 🏆 594. / 51 Read more »