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[00:00:03]

WELCOME

[CALL TO ORDER]

THEM.

SO I'M GREG GOSSARD, I'M CHAIR OF THE HOUSING AND PLANNING COMMITTEE.

I'M JOINED BY COUNCIL MEMBERS, ELLIS AND KITCHEN.

IT IS NOVEMBER THE NINTH, 3:10 PM.

I AM HERE AT THE DIOCESE AT CITY HALL, BUT WE ARE ALSO JOINED VIRTUALLY BY OUR STAFF.

AND I WILL CALL US TO ORDER

[1. Approve the minutes of the October 5,2021 Housing and Planning Committee meeting.]

THE FIRST ITEM BEFORE US IS TO APPROVE THE MINUTES FROM THE OCTOBER MEETING.

CAN I GET A MOTION TO DO SO MOVED BY COUNCIL MEMBER, ALICE SECONDED BY COUNCIL MEMBER KITCHEN, ALL IN FAVOR, RAISE YOUR HANDS.

AND THAT PASSES UNANIMOUSLY WITH THE SUPPORT OF ME, COUNCIL MEMBERS, ELLIS AND COUNCIL MEMBER KITCHEN.

[2. Approve the 2022 Housing and Planning Committee meeting calendar.]

THE SECOND ITEM IS TO APPROVE THE HOUSING AND PLANNING COMMITTEE CALENDAR.

THERE ARE ANY QUESTIONS ABOUT THE CALENDAR AS POSTED, SEEING NONE.

UM, IS THERE ANY OBJECTION TO PASSING THE CALENDAR AND WITHOUT OBJECTION, THEN WE'LL PASS, UH, ITEM NUMBER TWO, UH, BY ACCLIMATION HERE, THE THREE MEMBERS PRESENT PASSING THE CALENDAR FOR THE COMMITTEE FOR 2022.

AND SO

[3. Briefing on use of anti-displacement funds for Project Connect in response to Resolution No. 20210204-062.]

THAT LEAVES US WITH THE MAIN ITEM AND THE REASON FOR US TO GETTING TOGETHER HERE TODAY, WHICH IS A BRIEFING FROM OUR STAFF OF THE USE OF THE ANTI-DISPLACEMENT FUNDS PASSED BY THE VOTERS AS A PART OF PROJECT CONNECT.

UH, WE'VE TALKED A LOT ABOUT THIS.

I THINK IT WAS A REALLY KEY REASON WE WERE ABLE TO PASS THIS BOND OR THIS TAX RATE ELECTION, UH, TO BE ABLE TO HAVE A TRANSIT SYSTEM THAT ALSO, UH, MAKE SURE THAT PEOPLE CAN AFFORD TO LIVE BY THAT TRANSIT SYSTEM.

SO I REALLY APPRECIATE, UM, ALL THE MEMBERS OF THIS COMMITTEE AND OF THE DIASTAT THAT HELPED PUT THIS TOGETHER AND THANK THE VOTERS FOR HAVING DONE SOMETHING THAT HAS HAPPENED NOWHERE ELSE IN THE COUNTRY.

UM, YOU KNOW, $300 MILLION BEING DEDICATED TO KEEPING PEOPLE IN THEIR NEIGHBORHOODS AND IN THEIR HOMES WHILE WE BUILD OUT, UH, THIS NEW TRANSIT SYSTEM.

SO I'LL HAND IT ON OVER TO THE STAFF.

THANK YOU, MR. CHAIR.

UM, WE HAVE SEVERAL MEMBERS OF THE HOUSING AND PLANNING COMMITTEE OR HOUSING, A PLANNING DEPARTMENT HERE TODAY TO PRESENT TO YOU.

UH, I'M ROSIE TRUELOVE, I'M THE DIRECTOR OF THE HOUSING AND PLANNING DEPARTMENT.

THE PRESENTATION WILL BE LED BY TRAVIS PERLMAN, A PROJECT COORDINATOR IN OUR, UM, IN OUR DEPARTMENT AND JAMES MAY, WHO IS OUR INTERIM HOUSING DEVELOPMENT OFFICER.

UH, WE ALSO HAVE KEEP IT ALEXANDER OUR ASSISTANT DIRECTOR, UH, AVAILABLE TO ANSWER ANY QUESTIONS.

AND SO WITH THAT, I WILL TURN IT OVER TO TRAVIS.

THANK YOU, ROSIE.

AND EVERYBODY HEAR ME? YEAH.

GOOD AFTERNOON.

COUNCIL MEMBERS.

THANK YOU FOR HAVING ME, AS ROSIE MENTIONED, MY NAME'S TRAVIS PROMO AND I'M A PROJECT COORDINATOR IN THE HOUSING PLANNING DEPARTMENT AND THE AUSTIN HOUSING FINANCE CORPORATION, UH, PROVIDING, UH, AGGRAVATED PROVIDING YOU WITH UPDATES, UH, TODAY ON OUR PROGRESS TOWARDS PROGRAMMING AND SPENDING THE INITIAL ALLOCATION OF THE $23 MILLION, UH, FOR CONNECT INSIDE JUST PLACEMENT PURPOSES.

NEXT SLIDE PLEASE.

SO AS YOU RECALL, UM, IN THE LAST NOVEMBER, NOVEMBER, 2022 CITY VOTERS PASSED PROPOSITION A, UH, WITH WHICH OFFER AUTHORIZED A CITY TAX RATE INCREASE, UH, IT'S A FUN PROJECT, UH, PROJECT CONNECT IMPROVEMENTS, UH, WHICH ALSO INCLUDED PROVIDING $300 MILLION, UH, OF, OF PHONES TO ACQUIRE REAL PROPERTY SUPPORT FINANCING TOOLS AND IMPLEMENT ANTI-DISPLACEMENT STRATEGIES ASSOCIATED WITH PROJECT CONNECT, UH, SUBSEQUENT TO CITY VOTERS PASSING THAT PROPOSITION.

UH, THE CITY COUNCIL, UH, PROVED A RESOLUTION LAST, UH, THIS FEBRUARY, UH, WHICH PROVIDED SOME ADDITIONAL DIRECTION TO THE CITY MANAGER AND STAFF ON HOW THEY USE THE INITIAL 23 MILLION, UH, ALLOCATION OF THOSE PROJECT CONNECT FUNDS SPECIFICALLY THAT THOSE FUNDS BE PROVIDED TO 5 0 1 C THREE NONPROFITS TO PRESERVE AND DEVELOP AFFORDABLE HOUSING ON SMALL SITES, AS WELL AS AFFORDABLE HOUSING PROVIDERS TO PRESERVE EXISTING AFFORDABILITY ON LARGER SITES.

NEXT SLIDE, PLEASE, WITH THAT, UH, WE, UM, STAFF HAS BEEN WORKING IN THE LAST SEVERAL MONTHS AND TO PUT TOGETHER ESSENTIALLY A NEW PROGRAM AND OPEN UP A NEW LINE OF BUSINESS WELL FOR THE AUSTIN HOUSING FINANCE CORPORATION.

UH, THE FIRST THING THAT WE'LL TALK ABOUT TODAY IS THIS NEW PROGRAM THAT WE'RE CALLING THE PROJECT CONNECT ANTI-DISPLACEMENT COMMUNITY ACQUISITION PROGRAM, OR ADD CAP, UH, THIS PROGRAM ENVISIONS PROVIDING ZERO INTEREST LOANS, UH, ON A ROLLING BASIS TO 5 0 1 C3 NONPROFITS WITH EXPERIENCE, UH, RENOVATING, DEVELOPING AND PRESERVING AFFORDABLE HOUSING IN THE CITY OF AUSTIN, SPECIFICALLY FOR THE ACQUISITION OF VACANT AND IMPROVED PROPERTY OF A SIZE OF ONE ACRE AND LESS.

AND AGAIN, TO BE DEVELOPED, UH,

[00:05:01]

UH, INTO AFFORDABLE HOUSING OR TO PRESERVE AFFORDABLE HOUSING FOR LOW-INCOME HOUSEHOLDS, UH, ALL SHOW ALSO THESE FUNDS WILL BE DEDICATED SPECIFICALLY FOR TWO GEOGRAPHIES, UH, NO MORE THAN ONE MILE DISTANCE FROM PROJECT CONNECT, UH, BOSTON RAIL LINES, SPECIFICALLY IN GENTRIFYING AREAS IN THE CITY OF AUSTIN.

NEXT SLIDE PLEASE.

SO WHERE ARE WE ON IMPLEMENTATION? UH, WE'RE CURRENTLY, UM, INTERNAL EMBEDDING, UH, GUIDELINES INTERNALLY, UH, WORKING ON FINALIZING THOSE GUIDELINES IN DEPTHS DECEMBER WITH THE GOAL OF LAUNCHING THIS PROGRAM BEFORE THE END OF DECEMBER, CERTAINLY BY JANUARY 1ST, AGAIN, ACCEPTING APPLICATIONS JANUARY 1ST.

ANOTHER NOTE TO THIS SLIDE, I WANTED TO ADD A, WAS IT GIVEN THAT THIS IS A NEW PROGRAM? UH, WE ANTICIPATE AS PEOPLE USE THIS PROGRAM, THERE WILL BE A LESSONS LEARNED THAT WE ANTICIPATE DOING COMPREHENSIVE REVIEWS, PROBABLY MULTIPLE TIMES OVER THE FIRST YEAR THAT WE MAY IMPLEMENT THIS PROGRAM, UH, TO REVIEW LESSONS LEARNED, UM, FROM USER FEEDBACK AND REINCORPORATE THOSE INTO PROGRAM GUIDELINES, UPDATES.

AND SO PROBABLY ABOUT SIX MONTHS OUT AND CERTAINLY A YEAR OUT, WE'LL PROBABLY DO A COMPREHENSIVE REVIEW AND REVISION OF THIS PROGRAM'S GUIDELINES.

NEXT SLIDE PLEASE.

SO IN REGARDS TO, UM, PRESERVATION ON LARGER SITES, AGAIN, I MENTIONED THAT HSC, UH, WE'LL BE OPENING UP A NEW LINE OF BUSINESS, UH, THAT BEING MULTI-FAMILY PRESERVATION OF LARGER MULTI-FAMILY DEVELOPMENTS, WE BEGAN, UH, INITIAL CONVERSATIONS WITH OWNERS OF MULTIFAMILY HOUSING ALONG PROJECT CONNECT LINES.

THESE WOULD TYPICALLY BE EXPIRING TAX CREDIT, PROJECT PROJECTS OR MARKET RATE AFFORDABLE PROJECTS.

UH, WE'RE IN CONVERSATIONS WITH A COUPLE OF OWNERS RIGHT NOW WITH THE GOAL OF PURCHASING ONE LARGE DEVELOPMENT BETWEEN 100 AND 300 UNITS IN SIZE BEFORE THE END OF NEXT CALENDAR YEAR.

AND HSC WOULD LIKELY PARTNER WITH A DEVELOPER PARTNER, UH, WITH EXPERIENCE OR RENOVATING AND PRESERVING AFFORDABILITY IN THESE TYPES OF DEVELOPMENTS ON THIS TRANSACTION TO OWN AND OPERATE THAT DEVELOPMENT.

LONG-TERM NEXT SLIDE, PLEASE, WITH THAT I'M AVAILABLE FOR QUESTIONS AS NEEDED, UM, AND THE 30 QUESTIONS OFFLINE OR ANY QUESTIONS AFTER THIS, YOU CAN OF COURSE REACH OUT TO OUR COMMUNITY ACTING COMMUNITY DEVELOPMENT, THAT STRAIGHTER GINNIE MAE AND MYSELF.

THANK YOU VERY MUCH CHAIR.

CAN YOU SEE ME? I HAVE QUESTIONS.

I WILL PASS IT ALONG FOR QUESTIONS.

GO AHEAD, COUNCIL MEMBER KITCHEN.

OKAY.

UM, OKAY.

I HAVE JUST A COUPLE OF QUESTIONS, UH, FIRST OFF, THANK YOU ALL VERY MUCH.

THIS IS, AS THE CHAIR MENTIONED, THIS IS A VERY EXCITING PROGRAM, SO IT'S, IT'S, UM, IT IS VERY HEARTENING AND EXCITING TO SEE THAT, TO SEE THE PROGRESS THAT YOU ALL ARE MAKING ON GETTING THIS ON THE GROUND.

SO I HAVE A FEW QUESTIONS.

THE FIRST ONE HAS TO DO WITH, I THINK I SAW IN THE BACKUP.

I THINK CAROL MENTIONED, UH, THE LOCATIONS THAT YOU'RE TALKING ABOUT.

SO, AND I THINK I HEARD YOU SAY WITHIN A MILE, BUT, UM, DID I ALSO SEE THAT YOU SAID IN GENTRIFYING AREAS? UM, YEAH, SO HAVE THOSE GENTRIFYING AREAS BEEN IDENTIFIED AND, UM, IF NOT, WHAT ARE YOU, WHAT ARE YOU USING TO IDENTIFY THEM? IN OTHER WORDS, IS IT GOING BACK TO THE MAPPING THAT WAS IN THE UPROOTED REPORT? UM, AND WHEN YOU PUT OUT THE INFORMATION ABOUT THIS, ARE YOU GOING TO GO AHEAD AND IDENTIFY THOSE LOCATIONS? THANK YOU FOR THE QUESTION.

UH, YEAH, CERTAINLY WHEN WE, UH, PUBLISHED THESE PROGRAM GUIDELINES AND LAUNCH THIS PROGRAM, WE WILL IDENTIFY THOSE SPECIFIC GEOGRAPHIES WHERE THESE FUNDS CAN BE USED IN REGARDS TO, UM, HOW, WHAT METHODOLOGY WILL USE TO DETERMINE WHAT IS A GENTRIFYING AREA.

WE HAVEN'T DETERMINED THAT FULLY YET.

UM, THERE'S A COUPLE OPTIONS THERE.

ONE, AS YOU MENTIONED, IS THE UPLOADED, UH, STUDY, WHICH, UH, THE DATA IS A LITTLE BIT OUT OF DATE.

I WILL SAY THAT THERE HAS BEEN SOME INTERNAL WORK DONE, UH, WITH THE EQUITY OFFICE AND SOME OF THE OTHER DEPARTMENTS ON PRODUCING UPDATED, UH, GENTRIFYING AREA MAPS, SPECIFICALLY, UM, AS PART OF THE, UH, ANTI-DISPLACEMENT FUND EQUITY REPORT EFFORT.

AND SO WE WILL BE, UH, WORKING WITH OUR INTERNAL GROUPS LIKELY TO TURN IN WHAT THE BEST, UH, WHAT THE BEST METHODOLOGY AND TOOL IS FOR IDENTIFYING THOSE AREAS.

WILL YOU BE CONSULTING WITH THE PROFESSORS WHO PUT TOGETHER THE UPROOTED REPORT? UH, THEY DID QUITE A BIT OF, UH, ANALYSIS

[00:10:01]

AND THAT WAS A WELL RECOGNIZED REPORT.

SO JUST WONDERING IF YOU WILL BE CONSULTING WITH THEM, UH, IN TERMS OF WHERE YOU IDENTIFY AND ALSO JUST IN TERMS OF UPDATING, UH, THEIR ANALYSIS.

YEAH.

WE DO PARTNER WITH AND HAVE BEEN PARTNERING WITH THE PRODUCERS OF THE INITIAL EFFORT AT STUDY TO UPDATE THE MAPS AND TO REALLY GET THAT UPDATING PROCESS IN HOUSE SO THAT WE HAVE THE ABILITY TO MAINTAIN THAT MOVING FORWARD.

I DID WANT TO ASK, UM, OUR ASSISTANT DIRECTOR KEEP IT ALEXANDER, IF YOU WANTED TO ADD ANYTHING TO TRAVIS'S RESPONSE THERE.

YEAH.

COUNCIL MEMBER, A KITCHEN, UH, PART OF OUR NEIGHBORHOOD LEVEL STRATEGY IS TAKEN INTO CONSIDERATION THE HIGH VULNERABILITY AREAS.

KEEP IT, I CAN'T CLICK HERE YET.

OKAY.

CAN YOU HEAR ME NOW A LITTLE BIT BETTER? SORRY.

I MOVED A LITTLE BIT CLOSER, UM, AND ASSESSING OUR NEIGHBORHOOD LEVEL STRATEGIES WITHIN THE INVESTMENT CORRIDOR WHERE IDENTIFYING THE, UH, LEVELS OF THIS PLACEMENT RISK AS A PART OF OUR WORK WITH THE INNOVATION OFFICE.

UM, AND WE'LL BE PROVIDING THAT INTERNALLY.

WE'RE CURRENTLY IN THE WORKS OF THAT.

IN FACT, THE LAST MEETING THAT WE HAD, UM, WE'RE COMING UP WITH A NEW TOOL THAT IDENTIFIES THE NEIGHBORHOODS, THE LEVELS OF RISK AND RIGHT-SIZING, SO WHEN THIS OPPORTUNITY IS MADE AVAILABLE, IT MAKES SENSE FOR THAT INVESTMENT STRATEGY.

SO THAT WILL BE TAKEN INTO CONSIDERATION VIA ROUTE A REPORT.

AND AS A PART OF OUR EQUITY FRAMEWORK, THERE ARE DOCUMENTS THAT SHOW KIND OF THE LEVEL OF RISKS.

SO WE'RE MAKING SURE WE HAVE THE MOST RECENT INFORMATION AVAILABLE.

THAT'S GREAT.

I REALLY APPRECIATE THAT.

I THINK THAT, UM, THE, THE, UH, THE DIRECTION YOU'RE GOING IN, UH, MAKES SENSE, YOU KNOW, BECAUSE YOU KNOW, THE BIG PICTURE OF COURSE, WHICH YOU ALL ARE WELL AWARE OF, AND I KNOW YOU'RE WORKING TOWARDS IS, UH, ALTHOUGH THAT SOUNDS LIKE A BIG NUMBER IN THE SCHEME OF THINGS.

IT'S NOT A LOT OF HIM NOT, UH, NOT A LOT OF BALLERS AND TARGETING.

AND THE OTHER THING IS IT'S VERY DIFFICULT AS YOU ALL KNOW BETTER THAN THAT, THE IMPACT JUSTIFICATION.

SO AN ANTI-DISPLACEMENT SO TARGETED EFFORTS IN AREAS THAT YOU ALL HAVE ANALYZED AND FEEL LIKE CAN MAKE THE MOST DIFFERENCE IS REALLY, REALLY IMPORTANT.

SO I'M GLAD TO HEAR, UM, UH, WHAT YOU ALL ARE DOING, UM, IN THAT REGARD, IS THERE GOING TO BE AN OPPORTUNITY TO ONCE Y'ALL COMPLETE THAT ANALYSIS AND DETERMINE THE APPROPRIATE PLACES FOR THIS PARTICULAR PROGRAM TO LOOK AT, UH, FUNDING, WILL YOU BE MAKING THAT AVAILABLE BEFORE YOU PUT OUT THE RFP OR IS AN RP, RIGHT, OR JUST PUTTING THAT OUT AS PART OF THE SCOPE.

IN OTHER WORDS, IS THERE AN OPPORTUNITY FOR COMMUNITY PRE COMMUNITY COMMENT ON THE RANGE OF IDENTIFIER? I KNOW IT'S CONGESTED, IT SHOULD BE.

I'M JUST WANTING TO UNDERSTAND WHAT THE PROCESS IS.

WELL, ROSIE, I WAS GONNA, I WAS GOING TO GIVE YOU THE OPPORTUNITY TO ANSWER THAT I KNOW RIGHT NOW, WHAT WE'RE LOOKING AT IS ONCE WE DETERMINE OUT HOW WE'RE GOING TO MAKE OUR DECISION, OUR GOAL IS WHILE WE'RE DRAFTING IT TO GIVE A VESTED STAKEHOLDERS, THE OPPORTUNITY TO HAVE OBLIGATED AND COUNCIL MEMBERS, UH, STAFF AND COUNCIL MEMBERS TO HAVE A LOOK AT THAT.

SO THEY KNOW WHAT'S BEING PRESENTED.

SO IT MAKES SENSE.

THE WHOLE IDEA IS THAT THE COMMUNITY IS AWARE AS WE OUTLINED WHAT THE OPPORTUNITY IS GOING TO BE.

WE ALSO OUTLINE WHAT THE CRITERIA FOR THE INVESTMENT IS GOING TO BE ALSO, THANK YOU.

UM, WELL I KNOW A CHAIR, IF YOU WANT TO ALLOW, IF OTHERS WANT TO ASK QUESTIONS FIRST, THAT'S ALL, I'LL BRING IT BACK TO YOU HERE IN A MINUTE.

COUNCIL MEMBER ELLAS.

THANK YOU, CHAIR.

I'M REALLY INTRIGUED BY THIS, UM, THIS DISCUSSION YOU'RE HAVING WITH OWNERS OF EXISTING MULTIFAMILY HOUSING ON THE PROJECT CONNECT LINES.

IS THERE AN EFFORT BEING MADE FOR POTENTIAL NEW DEVELOPMENTS ALONG PROJECT CONNECT LINES? I KNOW THERE ARE SOME LOCATIONS WHERE THINGS MAY ALREADY, UM, YOU KNOW, BE AT VARIOUS PHASES IN THE PLANNING.

AND I DIDN'T KNOW IF THERE WAS ANY KNOWLEDGE THAT THE CITY HAD THAT COULD HELP US TRY TO GET, GET THOSE IN BEFORE NEW ONES COME ONLINE JUST TO, UM, BE MORE PROACTIVE.

OR DO YOU HAVE ANY THOUGHTS ON THAT? SO YOU, ARE YOU REFERRING TO, UM, FORDABLE HOUSING DEVELOPMENT OR MARKET RATE DEVELOPMENT, SPECIFICALLY COUNCIL MEMBER? I WAS JUST LOOKING AT SLIDE FIVE.

THAT'S TRAVIS, THAT'S THE PRESERVATION OF MULTIFAMILY.

WE, UM, SO WE, UH, SO I, IF I MAKE SURE I MAYBE GET YOUR QUESTION WRONG HERE, SO CORRECT ME IF I'M WRONG.

SO IN REGARDS TO YOUR QUESTION WAS ABOUT NEW DEVELOPMENT, ESSENTIALLY.

AND ARE WE, WHAT EFFORTS WE MAKING TOWARDS CREATING NEW HOUSING ON THESE CORRIDORS? UH, I CAN TELL YOU PRIOR REALLY, TO US RECEIVING THESE FUNDS, WE HAVE

[00:15:01]

MADE, UH, EFFORTS PARTICULARLY ON A LAND ACQUISITION SIDE, ACQUIRING LAND, ALONG THESE, UH, PROJECT CONNECT LINES TO BE DEVELOPED INTO NEW AFFORDABLE HOUSING.

I HAD TWO OF THE PIECES OF PROPERTY THAT THE CITY COUNCIL APPROVED RECENTLY.

IT WAS THE TRANSFER OF THE, UH, 18 AND A HALF ACRES ON THE CORNER OF RIVERSIDE DRIVE AND GROW BOULEVARD FROM AUSTIN ENERGY TO AUSTIN HOUSING FINANCE CORPORATION, TO BE DEVELOPED INTO INCOME RESTRICTED AFFORDABLE HOUSING.

WE ANTICIPATE DEVELOPING BETWEEN 400 AND 800 IN INCOME RESTRICTED UNITS AT THAT LOCATION, AS WELL AS ABOUT THREE ACRES, WE PURCHASED UP AT THE CORNER OF IAN FRANKLIN MAYNARD ROAD ACROSS THE STREET FROM THE MANOR DEVELOPMENT, WHICH IS ON AN, A PROJECT CONNECT STATION FOR TWO PER LINE ROUTES.

AND SO THAT, THAT'S SOMETHING THAT WE'VE REALLY TARGETED.

THAT'S BEEN A PRIORITY FOR THE LAST YEAR AND A HALF, UM, FOR OUR LAND ACQUISITION IN PARTICULAR TO TARGET, UH, NEW PROPERTIES, UNDERUTILIZED, VACANT PROPERTIES ON PROJECT CONNECT LINES, UH, TO DEVELOP NEW HOUSING.

BUT THAT IS SEPARATE IN ADDITION.

SO THIS NEW MULTI-FAMILY, UH, AGAIN, UM, BUSINESS WOULD BE, UH, IT WOULD BE NEW AND IT WOULD BE EXISTING.

SO THE KIND OF COMP ESSENTIALLY THEY WOULD COMPLIMENT EACH OTHER.

I APPRECIATE THAT FOCUS CAUSE I KNOW, UM, OBVIOUSLY HOUSING STOCK THAT'S ALREADY IN THE MARKET AND IN A NEIGHBORHOOD IS REALLY HELPFUL TO MAKE SURE IT'S AFFORDABLE FOR THE FOLKS WHO ARE LIVING AND WORKING NEAR THERE.

BUT I KNOW THAT AS SOME OF OUR OLDER DEVELOPMENTS ARE POTENTIALLY CLOSE TO 40 AND 50 YEARS SINCE THEY WERE DEVELOPED IN THE SEVENTIES, I KNOW THERE'S SOME PLACES THAT, UM, THE, THE LANDLORDS ARE TRYING TO FIGURE OUT, DO THEY REDEVELOP? DO THEY PUT MONEY INTO MAINTAINING WHAT IS ALREADY ON THE GROUND AS THOSE COSTS WILL ALSO INCREASE? AND SO I THINK THERE'S AN INTERESTING CONVERSATION HAPPENING HERE THAT I KNOW YOU'RE ALL AWARE OF, WHICH IS HOW DO WE ALSO MAKE SURE THE NEW STOCK IS ALSO AFFORDABLE BECAUSE THAT IS GOING TO HAVE A MUCH LONGER LIFESPAN THAN THE AFFORDABLE STOCK THAT'S CURRENTLY ON THE MARKET.

SO I'M GLAD THAT YOU'RE THINKING ABOUT ALL OF THESE THINGS AS WE LOOK AT THE BEST USE OF THESE DOLLARS.

THANK YOU, COUNCIL MEMBER.

UM, AND JUST TO SUMMARIZE FOR ANYBODY WATCHING, UH, AND MR. PROMAN CORRECT ME IF, IF I GET OFF TRACK HERE, BUT BASICALLY WHAT YOU'RE PRESENTING TO US IS THAT WITH THIS FIRST $23 MILLION WHERE THE COUNCIL DIRECTED THAT WE START ESTABLISHING SOME NEW PROGRAMS, YOU ARE AT THE CUSP OF THOSE BEING FULLY ESTABLISHED AND WE'LL START TAKING APPLICATIONS SOON, DECEMBER OR JANUARY.

IS THAT, IS THAT RIGHT? CORRECT.

SO WE'VE BEEN LONG AWAITING THIS DAY, SO I'M REALLY HAPPY TO HEAR THAT.

AND SO WHILE WE CURRENTLY HAVE PROGRAMS, AS YOU DESCRIBED TO BUY EMPTY LAND AND THEN BUILD A AFFORDABLE HOUSING ON IT, THAT PEOPLE CAN THEN MOVE BACK INTO THAT HAVE BEEN PUSHED OUT OR PROVIDE THAT OPTION FOR PEOPLE TO RETURN.

WE HAVE A PROGRAM ALREADY EXISTING TO BUY EMPTY LAND AND THEN BUILD LOW INCOME HOUSING ON IT.

WE ALREADY HAVE A PROGRAM TO PROVIDE DOLLARS TO PEOPLE BY BUILDING RENTAL OR OWNERSHIP HOUSING THAT IS NEW AND MAKING IT LOWER COST THAN I ALREADY WOULD BE.

BUT THEN ONCE YOU HAVE DEVELOPED NOW OR TWO NEW PROGRAMS, ONE THAT HELPS NONPROFITS DO REALLY SMALL SITES, LESS THAN AN ACRE IN SIZE.

SO THE COMMUNITY CAN GET, YOU KNOW, A SMALL AREA IN A SINGLE FAMILY NEIGHBORHOOD OR PRESERVE SMALLER SETS OF HOUSING, AND THEN ANOTHER NEW PROGRAM WHERE YOU ACTUALLY GO AND PRESERVE AN EXISTING APARTMENT BUILDING ALONGSIDE THE PROJECT CONNECT LINE.

AND SO NOW WE'LL HAVE THAT WHOLE SET OF DIFFERENT PROGRAMS. SO WHETHER ANTI-DISPLACEMENT MEANS HELPING A HOMEOWNER KEEP THEIR HOUSE BY REPAIRING IT, WHETHER IT MEANS BUILDING, UH, BUYING A PIECE OF EMPTY LAND BEFORE THE PRIVATE MARKET GETS IT AND BUILDING LOW INCOME HOUSING THERE, UM, WHETHER IT MEANS WORKING WITH THE COMMUNITY TO PRESERVE AFFORDABILITY AT A NEIGHBORHOOD SCALE, WE NOW HAVE A SET OF BASICALLY FIVE DIFFERENT PROGRAMS THAT NO MATTER WHICH ANGLE OF ANTI-DISPLACEMENT YOU WANT TO WORK ON, UH, WE'LL NOW HAVE A, BASICALLY A PROGRAM THAT WILL, THAT WILL BE ABLE TO HELP WITH THAT.

IS THAT THAT'S KIND OF WHAT IT LOOKS LIKE TO ME.

YES, SIR.

THAT'S CORRECT.

AND THE REASON THAT THAT'S EXCITING TO ME IS NOT JUST FOR THIS $23 MILLION.

I HOPE THAT WE'RE ABLE TO DEPLOY THAT REALLY QUICKLY, UM, IS THAT WE ALSO HAVE THE TASK OF THE OTHER $277 MILLION, UH, AFTER THOSE 23 MILLION.

AND SO WHAT I WOULD REALLY HOPE WE COULD SEE FROM THE DEPARTMENT AND FROM THE STAFF IS A GENERAL SENSE OF HOW MUCH OF THAT 277 MILLION WE THINK WE COULD PUSH THROUGH THESE FIVE DIFFERENT STRATEGIES.

UH, AND I KNOW THAT WE'LL HAVE TO WORK WITH INDIVIDUAL NEIGHBORHOODS

[00:20:01]

AND LOOK AT THE SPECIFIC ISSUES AFFECTING EACH NEIGHBORHOODS AND KNOW, UM, YOU KNOW, HOW MUCH WE WANT TO DO NEIGHBORHOODS SCALE COMMUNITY WORK VERSUS HOW MANY, UH, IN CERTAIN AREAS THERE MIGHT BE LOTS OF EXISTING, UH, LARGE MULTI.

SO THE NEW LARGE MULTIFAMILY PRESERVATION PROGRAM MAY MAKE THE MOST SENSE.

AND I KNOW THE CONTRACT THAT THE VOTERS ARE SUPPOSED TO GO AND LOOK AT THOSE SPECIFIC ISSUES, BUT I'M GLAD THAT YOU NOW HAVE ALL FIVE OF THESE PROGRAMS LIVE SO THAT WE CAN ADDRESS THE ISSUES BASED ON WHATEVER'S GOING ON NEAR THAT RAIL STOPPARD YOU'RE THAT BUS STOP.

UM, BUT IN MY VIEW, WHAT YOU'VE DONE IS SET YOUR SET THE CITY UP SO THAT WE CAN EXECUTE ON THE OTHER 277 MILLION AS SUCCESSFUL AS WE CAN AND KEEP PEOPLE FROM LOSING THEIR HOMES OR, OR BRING PEOPLE BACK TO THEIR NEIGHBORHOOD.

SO I JUST REALLY APPRECIATE THAT.

UM, YOU KNOW, WE USED BEFORE, WE DIDN'T REALLY HAVE A PROGRAM FOR, WE WANT TO SAVE THIS APARTMENT BUILDING BEFORE THE RAIL LINE GOES IN, HOW WILL WE DO IT? AND NOW YOU HAVE THAT PROGRAM SET UP BEFORE WE DIDN'T HAVE A WAY TO DIRECTLY PARTNER WITH THE NEIGHBORHOOD TO SAVE A FEW HOUSES, DUPLEXES THAT ARE AFFORDABLE.

AND NOW WE HAVE THAT.

SO I'M GLAD THAT YOU HAVE IT SO THAT WE CAN SPEND ALL 300 MILLION, UM, AND AS EFFECTIVE A WAY AS POSSIBLE COUNCIL MEMBER KITCHEN.

YOU HAD A QUESTION, A QUESTION LEFT, THANKS FOR DEFERRING, UH, TO, TO US FOR A MINUTE HERE, I'LL KICK IT BACK TO YOU.

UH, YES, I, I WANTED TO GO BACK TO THE, I THINK, I THINK WE KIND OF TALKED ABOUT IT, BUT, UM, YOU HAD, UH, IDENTIFIED A LARGE EXISTING MULTIFAMILY, UM, AN EFFORT TO TARGET A LARGE EXISTING MULTI-FAMILY I GUESS IT WAS IN THE NEXT YEAR OR SOMETHING LIKE THAT.

UM, IS, IS THE THINKING TO JUST START WITH THAT, OR ARE YOU THINKING TO ONLY DO ONE INTENDING TO KIND OF HELP ME UNDERSTAND WHAT THE THINKING IS, ARE AROUND, UM, TARGETING ONE UNDER THE ORDERS.

I'M JUST WANTING TO UNDERSTAND THE SCOPE OF THE PROGRAM AS YOU ALL ARE THINKING IT SHOULD BE, UH, GIVEN WHAT'S OUT THERE IN THE COMMUNITY.

YES MA'AM.

UH, SO, UH, AND YOU MENTIONED THIS EARLIER, COUNCILMEMBER KITCHEN, UM, WHILE $23 MILLION IS A LOT OF MONEY.

UM, WHEN IT COMES TO BUYING EXISTING LARGE DEVELOPMENTS, IT DOESN'T GO THAT FAR, WHICH IS ALSO WHY WE WILL BE LIKELY PARTNERING WITH A SEPARATE DEVELOPER WHO WILL ALSO BE OUR PARTNERS, BRING EQUITY TO THAT DEAL.

IN ADDITION TO THE FUNDS THAT WE BRING TO THAT DEAL, UH, TO PRESERVE ITS AFFORDABILITY.

AND SO WE ANTICIPATE THAT SOMEWHERE BETWEEN PROBABLY EIGHT, $15 MILLION AT THAT $23 MILLION WILL BE REQUIRED TO PURCHASE AN EXISTING DEVELOPMENT OF BETWEEN 100, 300 UNITS.

UM, AND THEN WE'VE, UH, TENTATIVELY ALLOCATED A MINIMUM OF $8 MILLION TO GO THROUGH THE SEPARATE, UH, COMMUNITY ACQUISITION PROGRAM.

BUT THAT'S REALLY WHY WE SETTLED ON ONE.

IN ADDITION TO THAT, UH, THE NATURE OF THESE TRANSACTIONS IS MORE COMPLEX THAN JUST PURCHASING LAND AND DEVELOPING IT WITH HOUSING, UH, THE DEAL STRUCTURES AND THE OWNERSHIP STRUCTURES ARE MORE COMPLEX.

AND IT, LIKE I SAID, IT'S A NEW LINE OF BUSINESS FOR AUSTIN.

SO WE'RE KIND OF JUST GETTING OUR FEET UNDERNEATH US.

AND SO I THINK GIVEN THE LIMITATIONS OF THE FUNDING, WE EXPECT THAT IT WILL BE A TREMENDOUS AMOUNT OF WORK, FRANKLY, AND ALSO GIVING THE REAL ESTATE MARKETS THAT WE'RE IN.

IT WILL BE, IT WILL BE A TREMENDOUS AMOUNT OF WORK FOR US TO EXECUTE AND GET THAT ONE DEAL, I THINK BEFORE THE END OF THE CALENDAR YEAR.

BUT I THINK IF WE, I THINK WE WILL HAVE NO PROBLEM DOING THAT AND IT WILL SET US UP FOR SUCCESS IN FUTURE YEARS.

OF COURSE, YEAH, THAT ANSWERS MY QUESTION.

I WAS REALLY THINKING OF IT IN THE CONTEXT OF THE LARGER THAT ARE AVAILABLE, NOT THE 23 MILLION, IT'S GOING TO BE HARD TO DO ANYTHING.

AND THE 23 MILLION THAT'S ONE BIG PIECE.

SO, UM, AND GIVEN THAT, THAT HELPED ME UNDERSTAND THE REASONING ABOUT A LARGE OVER A HUNDRED IS THE THINKING JUST THAT, I MEAN, GIVEN WHAT'S OUT THERE IS THE THINKING THAT WE NEED, THAT'S THE LEVEL WE NEED TO PRESERVE, AS OPPOSED TO SOME OF OUR SMALLER, YOU KNOW, 40, 50, 60 UNIT PORTABLE BUILDINGS WHEN IT COMES TO THE, THESE TYPES OF DEVELOPMENT OR QUESTIONS, IT'S, IT'S REALLY COMES TO AN ECONOMY OF SKILLS SORT OF THING.

AND, UH, ESSENTIALLY BOTH SMALLER THE DEVELOPMENT, THE MORE AMOUNT OF MONEY YOU'RE PAYING PER UNIT.

AND SO THEY LOCKED YOUR DEVELOPMENTS GET, ALLOWS US TO GET THE ECONOMIES OF SKILLS AND TO DRIVE OUR SUBSIDY PER UNIT DOWN TO WHAT WE'RE TYPICALLY SEEING FOR AFFORDABLE HOUSING PROGRAMS, AND ESSENTIALLY ALLOWS US TO EXTEND OUR DOLLARS, THE LIMITED DOLLARS AS FAR AS WE CAN.

AND SO THAT'S ESSENTIALLY WHAT WE DO.

AND, YOU KNOW, IF YOU'RE HONEST WITH YOUR COUNCIL MEMBER, THE WORK THAT'S REQUIRED BETWEEN PURCHASING A 50 UNIT EXISTING DEVELOPMENT AND 300 UNIT IS BASICALLY THE SAME.

UM, AND SO AGAIN, WITH GIVEN

[00:25:01]

EFFICIENCY, TRYING TO MEET EFFICIENCIES AND ECONOMIES OF SCALE, THAT'S KIND OF WHAT WE'RE TARGETING A LARGER SIZE DEVELOPMENT.

THAT'S ABOUT, YOU KNOW, WE WANT TO MAKE A BIG IMPACT.

YOU KNOW, WE WANT, WE WANT TO PRESERVE AS MANY AFFORDABLE HOUSING UNITS AS POSSIBLE.

AND WE THINK THAT THIS IS THE STRATEGY TO DO IT.

UM, WELL, AND YOU SORT OF SPOKE TO THIS CHAIR.

I MEAN, I THINK THAT WE NEED A CONVERSATION.

MAYBE THERE'S A DIFFERENT ROUTE AND THIS IS NOT THE ROUTE, BUT WE DO HAVE AFFORDABLE UNITS, YOU KNOW, THAT ARE AT THE 40 50 LEVEL AND NEIGHBORHOODS THAT ARE BEGINNING TO BE BOUGHT UP.

AND WE'RE ACTUALLY HAPPENED, BOUGHT UP FOR A LONG TIME.

AND WERE THEY, SO MAYBE THAT'S ANOTHER DIFFERENT PROGRAM, BUT, UM, I HEAR WHAT YOU'RE SAYING ABOUT THE LARGE UNITS, BUT THAT DOESN'T PRESERVE FOR US THAT REALLY MORE NEIGHBORHOOD LEVEL, NOT THAT IT HAS TO BE DONE THROUGH THIS PARTICULAR PROGRAM.

WELL, I HEAR WHAT YOU'RE SAYING.

IT WAS SOMETHING MORE TO TALK ABOUT AND EXPLORE, UM, WHAT THE OPTIONS ARE FROM THESE SMALLER UNITS.

I MEAN, THAT'S NOT SMALL 40 OR 50, BUT IT'S DEFINITELY SMALLER THAN A HUNDRED.

AND SO, OKAY.

THANK YOU.

I'LL ADD TO THAT COUNCIL MEMBER.

UM, WE DO LIKE ADD ACQUIRING EXISTING MULTI-FAMILY OF THAT SIZE, UH, AS THROUGH OUR EXISTING LAND, UH, OUR PROPERTY ACQUISITION PROGRAMS. SO WE DO LOOK AT THOSE DEALS ON A REGULAR BASIS FOR ACQUISITION, BUT FRANKLY GIVEN, LIKE I SAID, MANY OF THE THINGS THAT I'VE MENTIONED, WE HAVEN'T FOUND THE OPPORTUNITY FOR US AT THAT SIZE THUS FAR.

UH, BUT WE ARE CONSTANTLY LOOKING AT THOSE DEALS AND THE NEIGHBORHOODS THAT YOU'RE, I MEAN, EXACTLY WHAT YOU'RE TALKING ABOUT.

OKAY.

WELL, LOOK THAT LOOK FORTIES.

I HAVE ONE FOR YOU.

I'LL CALL YOU AFTERWARDS.

THANK YOU, COUNCIL MEMBER.

ANYTHING ELSE ON THIS COUNCIL MEMBER, ALICE, I JUST REALLY APPRECIATE YOUR TEAM'S WORK ON TRYING TO FIND THE BEST POSSIBLE POSSIBLE SCENARIOS.

I KNOW THAT WITH THE, WITH THE DOLLARS ALLOWED, UM, THERE MAY JUST BE STRATEGIES THAT HAVE TO BE SORTED OUT AS THEY'RE AVAILABLE AND WITH THE BEST INTEREST OF THE PUBLIC.

SO I KNOW IT'S NOT GOING TO BE ONE SIZE FITS ALL.

THERE MAY NOT BE A MAGICAL UNICORN TO GET THIS DONE, BUT IT IS VERY IMPORTANT THAT WE SECURE AND MAINTAIN AFFORDABLE HOUSING ALONG THESE ROUTES BECAUSE THAT'S WHAT PEOPLE REALLY NEED.

SO I APPRECIATE ALL THE WORK THAT YOU'RE PUTTING INTO THIS.

THANK YOU.

AND EVEN THOUGH IT IS LIMITED DOLLARS BETWEEN 300 MILLION AND THE 250 FROM THE PRIOR AFFORDABLE HOUSING ELECTION, WE'RE TALKING OVER HALF A BILLION DOLLARS OF INVESTMENT, WHICH IS SO MUCH MORE THAN OUR CITY HAS EVER BEEN ABLE TO DO BEFORE.

WAY MUCH MORE THAN ALMOST ANY OF OUR PEER CITIES IN THE AREA HAVE EVER BEEN ABLE TO DO SO YOU HAVE A BIG TASK BEFORE YOU, BUT THAT'S THE TASK THAT'S IN FRONT OF US.

AND SO I, I HOPE THAT WE GET THAT 23 MILLION OUT THE DOOR AS QUICK AS WE CAN LEARN FROM IT AND THEN APPLY NOW THAT WE HAVE THESE PROGRAMS PUT AS MUCH OF THAT $300 MILLION, UH, THROUGH THESE PROGRAMS AS WE CAN.

AND THE MORE THAT YOU'RE ABLE TO SHOW THE COUNCIL AND THE COMMUNITY, THE PEOPLE THAT ARE GETTING HELPED CAUSE THESE AREN'T JUST HOUSING UNITS, THESE WOULD BE PEOPLE, UM, THAT HELPS US A LOT TOO.

YOU KNOW, IF YOU CAN SHOW US, UM, THE INCOME LEVELS AND THE DEMOGRAPHICS OF THE PEOPLE THAT WE WOULD BE KEEPING IN PLACE BY BUYING THESE LARGE MULTIFAMILY BUILDINGS, THE ORGANIZATIONS AND THE WORK YOU'RE DOING WITH THE SMALL SCALE PROGRAM, I THINK THAT CAN REALLY, UM, YOU KNOW, ONE FOR TRANSPARENCY, IT'S IMPORTANT FOR US TO SEE.

AND THEN TWO, I THINK THAT COULD BUILD THE CONFIDENCE AS WE GO AND PUT NOT JUST $23 MILLION THROUGH SOME OF THESE PROGRAMS, BUT, UH, BUT HUNDREDS OF MILLIONS OF DOLLARS TO KEEP THOUSANDS OF PEOPLE IN PLACE.

SO THANK YOU.

I WOULD LIKE TO JUST FOLLOW UP ON THAT STATEMENT, UM, BECAUSE I THINK WE WILL FIND OURSELVES WITH OPPORTUNITIES, UH, IN THE COMING WEEKS TO BE TALKING ABOUT THE PRIORITIZATION THAT THE COUNCIL ENVISIONS FOR THAT 300 MILLION.

AND WE WELCOME THOSE CONVERSATIONS.

UM, AS WE THINK THROUGH HOW WE WILL IMPLEMENT, WE'RE TALKING ABOUT THE FIRST 23 MILLION NOW, BUT AS WE THINK THROUGH IMPLEMENTATION, UTILIZING THE EQUITY TOOL IN THE COMING WEEKS AND MONTHS, UH, WE'LL LOOK FORWARD TO HAVING THOSE CONVERSATIONS WITH THE CITY COUNCIL.

WELL, YEAH.

AND CONSIDER THIS INPUT FROM THE THREE OF US AS THE BEGINNING OF THAT.

YOU KNOW, I THINK WE SAW A LOT OF INTEREST FROM US, BUT MY SUGGESTION WOULD BE, YOU KNOW, SHOW US THE KIND OF WORK THAT, YOU KNOW, HOW IT WOULD WORK AT RYAN DRIVE, YOU KNOW, WHICH IS RIGHT THERE AT THE INTERSECTION OF MULTIPLE OF THESE LINES AND WHAT IT IS WE COULD DO SHOW US WHAT IT LOOKS LIKE FOR US TO BUY APARTMENT BUILDING, YOU KNOW, ALONG RIVERSIDE OR ALONG LAMAR, UH, BRING US AGAIN THE EXAMPLE OF THE VACANT LAND THAT YOU BOUGHT ON THE PURPLE LINES SO THAT WE CAN SEE ALL THE DIFFERENT PIECES OF WORK ALL AT ONCE.

AND THAT MIGHT HELP US BETTER UNDERSTAND WHY 200 OR $250 MILLION.

MAYBE WHAT'S REALLY REQUIRED

[00:30:01]

TO GO THROUGH THESE DIFFERENT PROGRAMS IF WE WANT TO MAKE A DENT.

UM, SO THAT IT DOESN'T JUST GET SPREAD OUT AMONGST A THOUSAND DIFFERENT THINGS, BUT REALLY GOES TO THE PROGRAMS THAT ARE GOING TO HAVE HIGHEST IMPACT AND KEEP MOST PEOPLE IN PLACE.

SO, UM, THIS PRESENTATION, I THINK WAS A GOOD START OF SHOWING WHAT'S NEW WITH THE 23 MILLION, BUT ONCE YOU PRESENT THAT 300, I THINK ALL OF THE PROGRAMS THAT, UM, THAT YOU ALL TALKED ABOUT, THAT WE ALREADY HAVE REMIND US OF THOSE AND, AND START SHOWING US, YOU KNOW, THE FACT OF THE MATTER IS IF WE WANT TO MAKE AN IMPACT ACROSS FIVE PROGRAMS, THEY'RE GOING TO EACH NEED TENS OF MILLIONS OF DOLLARS, UH, TO BE ABLE TO, TO MAKE A REAL DIFFERENCE IN FIVE APARTMENT BUILDINGS, YOU KNOW, OR A SEVEN OR EIGHT APARTMENT BUILDINGS, YOU'RE STARTING TO SCRATCH UP TO A HUNDRED MILLION DOLLARS.

OKAY.

THANK YOU ALL VERY MUCH.

WE REALLY APPRECIATE IT.

UM, OUR LAST ITEM ON THE AGENDA IS IF WE WANT TO DISCUSS FUTURE ITEMS, BUT A LOT OF TIMES Y'ALL COULD JUST REACH OUT TO MY OFFICE DIRECTOR.

WE CAN TALK ON THE MESSAGE BOARD.

SO UNLESS YOU WANT TO BRING ANYTHING UP HERE WITH THE STAFF, WE CAN ALWAYS TAKE THAT OFFLINE.

OKAY.

IF NOBODY HAS ANYTHING TO DISCUSS ON THAT POINT AND WITH IT WITHOUT OBJECTION, I WILL ADJOURN US AT 3:41 PM.

THANK YOU VERY MUCH.



* This transcript was compiled from uncorrected Speech-to-Text.