Feb 22, 2022 Housing and Planning Committee

TO CALL ITEM NUMBER ONE, APPROVED A MINUTE.

AND WE REALLY LOOK FORWARD TO WORKING TOGETHER REAL HARD TO BUILD AS MANY HOUSING, ESPECIALLY AFFORDABLE HOUSING HERE IN THE CITY OF BOSTON.

I AM CHAIR TO BE AN OPIOID IN TIBIA, AND I WOULD LIKE TO KNOW IF THERE'S ANY PUBLIC SPEAKERS THAT SIGNED UP.

[1. Approve the minutes of the November 9, 2021 Housing and Planning Committee meeting.]

I CAN'T REMEMBER, UH, REMEMBER, UH, ELLIS KINDA LITTLE NERVOUS RIGHT NOW.

AND, UH, DO WE HAVE A SECOND COUNCIL MEMBER KITCHEN, SECOND.

IT ALL THOSE IN FAVOR, SAY AYE, AYE.

OR RAISE YOUR HAND.

LET'S SEE.

AND I'M GOING TO ASSIGN THE ON THE DICE.

TWO BRIEFING ON THE 2018, UH, AFFORDABLE HOUSING BOND REVIEW.

AND, UM, TODAY WE, UH, WE'RE GOING TO BE HEARING A LOT OF BRIEFINGS ON, UH, WHERE WE'RE AT ON OUR PORT WALL HOUSING.

AND I WOULD LIKE TO START WITH THE, UM, ITEM NUMBER

[2. Briefing on the 2018 Affordable Housing Bond Review.]

THANK YOU COMMITTEE.

UH, THIS IS ROSIE TRUE LIVE DIRECTOR OF THE HOUSING AND PLANNING DEPARTMENT.

WE HAVE JAMES MAY HERE WHO IS GOING TO, UH, DELIVER, UH, AN UPDATE ON WHERE WE ARE AT WITH OUR 2018 AFFORDABLE HOUSING BOND PROGRAM.

JAMIE, THANK YOU.

I BELIEVE WE HAVE A PRESENTATION.

THANK YOU, MR. CHAIR.

UM, I AM, I AM JAMIE MAY.

I'M THE ACTING HOUSING AND COMMUNITY DEVELOPMENT OFFICER FOR THE HOUSING PLANNING COMMITTEE.

UH, TODAY I'LL BE GOING OVER THE 2018 AFFORDABLE HOUSING BOND.

UH, THIS IS A REVIEW OF HOW WE'VE SPENT THEM FUNDS SO FAR AND, UH, HOW WE INTEND TO SPEND THE REST OF THEM.

WE'LL GO TO THE NEXT SLIDE.

SO JUST TO GO OVER OUR AGENDA FOR THIS PRESENTATION, I WILL GIVE YOU A BRIEF EXPLANATION OF WHAT THE 2018 AFFORDABLE HOUSING BONDS WERE, HOW THOSE FUNDS WERE ALLOCATED TO THE DIFFERENT PROGRAMMING AREAS.

AND THEN WE'LL GO OVER EACH PROGRAM AREA INDIVIDUALLY, A LAND ACQUISITION PROGRAM, THE HOME REPAIR PROGRAMS, AND THEN OUR HOUSING DEVELOPMENT ASSISTANCE PROGRAMS. AND WITH THAT SECTION, WE'RE GOING TO DO A 10 YEAR REVIEW JUST TO SEE HOW THE AFFORDABLE HOUSING BONDS HAVE IMPACTED OUR DEVELOPMENT ASSISTANCE PROGRAMS OVER THE LAST 10 YEARS.

WAS FOR AFFORDABLE HOUSING.

SO FIRST WE'LL REVIEW THE 2018 GENERAL OBLIGATION BONDS.

EXCELLENT.

JUST TO REMIND YOU ALL THE, UH, COMPOSITION A ON THE 2018 BALLOT

[00:05:01]

THIS WAS A $250 MILLION PROPOSITION FOR, UH, TO PROVIDE FUNDING FOR THE CREATION, REHABILITATION AND RETENTION OF AFFORDABLE RENTAL AND OWNERSHIP HOUSING NEXT LIGHT.

AND THIS $250 MILLION WAS DIVIDED INTO FOUR BROAD PROGRAM AREAS.

THE FIRST PROGRAM AREA WAS $100 MILLION DEDICATED TO LAND ACQUISITION, SPECIFICALLY FOR THE AUSTIN HOUSING FINANCE CORPORATION TO ACQUIRE AND HOLD LAND, AND THEN DISPOSE OF THAT PROPERTY THROUGH A REQUEST FOR PROPOSAL PROCESS WHEREIN WE WILL DEVELOP THE LAND WITH A DEVELOPMENT PARTNER, THE SECOND BROAD PROGRAM AREA.

AND I'M GOING TO GO TO THE SECOND COLUMN NOW JUST TO STAY ON THE TOP OF THIS SLIDE IS THE HOME REPAIR PROGRAM AND THAT ALLOCATED $28 MILLION TO THAT PROGRAM AREA.

THIS WAS A, AN INTENT TO KEEP HOMEOWNERS IN THEIR HOMES, UH, TO PROVIDE MINOR HOME REPAIRS AND REHABILITATION.

IT IS PROBABLY ONE OF OUR STRONGEST ANTI-DISPLACEMENT AND PRESERVATION PROGRAMS IN THE DEPARTMENT.

AND THEN LASTLY, I'LL POINT OUT THAT THE TWO RENTAL HOUSING DEVELOPMENT ASSISTANCE PROGRAM AND THE ACQUISITION AND DEVELOPMENT HOME OWNERSHIP PROGRAM ARE ESSENTIALLY SISTER PROGRAMS. THEY FUNCTION, UH, ALONG THE SAME PROCESS AND THEY PROVIDE A SIMILAR BENEFIT TO THE DEVELOPMENT COMMUNITY FOR THE RENTAL HOUSING DEVELOPMENT ASSISTANCE PROJECTS.

UH, WE HAVE ALLOCATED $94 MILLION, AND THIS IS A GAP FINANCING FOR RENTAL HOUSING DEVELOPMENTS.

UH, OUR FUNDS ARE TARGETED TO HOUSEHOLDS EARNING LESS THAN 50% OF THE MEDIAN FAMILY INCOME.

SO WE WILL PROVIDE GAP FINANCING FOR DEVELOPERS THAT PROVIDE THAT LEVEL OF AFFORDABILITY.

WE ALSO TRY TO TARGET EVEN DEEPER AFFORDABILITY THROUGH INCREASED SUBSIDIES AND NEGOTIATIONS WITH OUR DEVELOPMENT PARTNERS.

THE ACQUISITION AND DEVELOPMENT HOME OWNERSHIP PROGRAM HAS ACTUALLY CHANGED ITS NAME TO THE OWNERSHIP HOUSING DEVELOPMENT ASSISTANCE PROGRAM TO MATCH ITS SISTER PROGRAM THAT'S $28 MILLION DEDICATED TO THAT, UH, THAT PROGRAM.

AND AGAIN, IT PROVIDES GAP FINANCING FOR OWNERSHIP DEVELOPERS WHO ARE PROVIDING OWNERSHIP OPPORTUNITIES TO HOUSEHOLDS EARNING LESS THAN 80% OF THE MEDIAN FAMILY INCOME.

SO FOR BOTH OF THESE PROGRAMS, WE TARGET AFFORDABILITY AND DEEP AFFORDABILITY TO MAINTAIN A PRESENCE IN THE CITY OF AUSTIN.

NEXT SLIDE, PLEASE.

THIS IS A REVIEW OF OUR ANNUAL ALLOCATION OF THOSE FUNDS.

AS YOU CAN SEE THE, UH, LAND ACQUISITION PROGRAM AND WAS LOADED WITH THE ALLOCATION OF THE FUNDS WE HAVE OUT, WE HAVE BEEN ALLOCATED ALL 100 MILLION OF THOSE FUNDS.

NOW WE HAVE NOT SPENT ALL 100 MILLION, BUT WE ARE ON TRACK.

UH, THE RH D O H D A OR RENTAL HOUSING DEVELOPMENT ASSISTANCE AND OWNERSHIP, HOUSING DEVELOPMENT ASSISTANCE, AS WELL AS THE HOME REPAIR PROGRAM.

WE'RE MORE CONSISTENT ACROSS THE YEARS ALLOCATED ANNUALLY.

IS OUR COMMUNITY LAND TRUST.

SO TO GO OVER THE LAND ACQUISITION, UH, PROG PROGRAM, UM, WE'LL LOOK AT HOW THOSE FUNDS WERE SPENT.

NEXT LINE, AS YOU CAN SEE ON THIS MAP, THESE ARE AREAS WHERE THE AUSTIN HOUSING FINANCE CORPORATION HAS ACQUIRED PROPERTY.

THE PINK OR MAGENTA DOTS ARE VACANT PARCELS THAT WILL BE, UH, DISPOSED OF THROUGH THE RFP PROCESS, UH, SEEKING DEVELOPERS TO DEVELOP THOSE PROPERTIES INTO AFFORDABLE HOUSING.

THE GREEN DOTS ARE PART OF OUR COMMUNITY LAND TRUST, AND THAT IS SINGLE FAMILY DEVELOPMENT, UH, SINGLE FAMILY HOUSEHOLDS THAT ARE PART OF OUR COMMUNITY LAND TRUST.

AND I'LL GO OVER THAT IN JUST A MOMENT.

THE BLUE DOTS REPRESENT OUR HOTEL ACQUISITIONS.

WE HAVE ACQUIRED THREE HOTELS, WHICH WILL BE CONVERTED TO PERMANENT SUPPORTIVE HOUSING, UH, OVER THE COURSE OF THE NEXT YEAR, WE INTEND TO, WE HOPE TO HAVE THOSE, UH, OCCUPIED AND READY FOR OCCUPANCY, UH, BY THE END OF THIS CALENDAR YEAR.

AND THAT WILL BRING MORE THAN 200 NEW PERMANENT SUPPORTIVE HOUSING UNITS INTO OUR PORTFOLIO FOR THE VACANT LAND.

I WOULD POINT OUT THAT OF ALL OF THE PARCELS THAT WE HAVE ACQUIRED IT TOTALS TO ABOUT 52 AND A HALF ACRES.

IT'S 52 AND A HALF ACRES OF DEVELOPABLE LAND FOR AUSTIN HOUSING FINANCE CORPORATION THAT IS SPREAD ACROSS SEVEN DIFFERENT COUNCIL DISTRICTS.

WE ARE TRYING OUR BEST TO HIT ALL 10.

UH, WE HAVE MAINTENANCE, WE HAVE ACQUIRED PROPERTY IN SEVEN COUNCIL DISTRICTS SO FAR, AND OUR NEXT RFP OR OUR NEXT REQUEST FOR PROPOSALS WILL BE FOR OUR MAIN ROAD PROPERTY.

UH, WE'VE ALREADY CONDUCTED A SIGNIFICANT COMMUNITY ENGAGEMENT ON THE PARCEL, AND WE DO HAVE TO SEND THAT ISSUE THAT RFP, UH, WITHIN, UH, THE NEXT SEVERAL WEEKS NEXT SLIDE.

AND THIS

[00:10:01]

THE COMMUNITY LAND TRUST IS A PROGRAM WHEREIN THE VALUE OF THE HOME AND OWNERSHIP OF THE HOME IS SEPARATED FROM THE OWNERSHIP AND VALUE OF THE LAND ON WHICH IT SITS.

THIS IS AN INTENT.

THIS IS A PROGRAM THAT PROVIDES LONG-TERM AFFORDABILITY FOR HOME OWNERSHIP, AS WE'VE ALL SEEN THE PRICES OF HOMES IN AUSTIN, UH, ESCALATE RAPIDLY OVER THE LAST TWO YEARS.

AND THE VALUE OF THAT HAS REALLY BEEN TIED TO THE LAND BY DECOUPLING THE LAND FROM THE STRUCTURE.

UH, WE CAN PREVENT THAT SPIKE IN, UH, PROPERTY TAXES FOR THE HOMEOWNER AND, UH, THE SPIKE IN VALUATION, UH, FOR THE HOME, WE CURRENTLY HAVE 15 OCCUPIED UNITS IN OUR CLT PROGRAM, OUR COMMUNITY LAND TRUST PROGRAM.

WE ALSO HAVE 29 HOMES IN THE PIPELINE, AND THAT PIPELINE IS, UH, EITHER THE HOMES ARE BEING REHABILITATED OR THEY'RE READY AND WAITING FOR US TO SELL.

WE ARE LOOKING TO SELL, UH, THE FIRST UNIT SOMETIME THIS SPRING, UH, THROUGH A LOTTERY SYSTEM, AS PART OF THAT LOTTERY SYSTEM, WE ARE ALSO GOING TO IMPLEMENT THE PREFERENCE POLICY, UH, WHICH, UH, PREFERENCES INDIVIDUALS WHO ARE EITHER EXPERIENCING DISPLACEMENT, HAVE EXPERIENCED DISPLACEMENT, OR HAVE A GENERATIONAL TIE TO THE CITY.

AS YOU CAN SEE, OUR CLT PORTFOLIO IS IN COUNCIL DISTRICTS, 1, 2, 5, AND SIX, AND WE DO HELP TO GROW THIS PORTFOLIO OVER TIME.

AT THE BOTTOM OF THIS SLIDE, YOU'LL SEE THE WWW.ACLT-HOMES.ORG WEBSITE.

AND THAT IS A WEBSITE WHERE YOU CAN LEARN MORE ABOUT HOW COMMUNITY LAND TRUST FUNCTIONS AND THE BENEFITS OF A COMMUNITY LAND TRUST FOR A HOMEOWNER.

NEXT SLIDE KIDS.

NEXT I'D LIKE TO TALK ABOUT THE HOME REPAIR PROGRAMS. NEXT SLIDE.

OVER THE FIRST THREE YEARS OF OUR BOND ALLOCATION, UH, THROUGH THE 2018 AFFORDABLE HOUSING BOND, WE HAVE BEEN ABLE TO, UH, REPAIR AND PRESERVE MORE THAN 600 UNITS.

THAT'S 600 SINGLE-FAMILY DETACHED HOUSEHOLDS THAT ARE, UH, PRESERVED, UH, FOR THE HOMEOWNER SO THAT THEY CAN STAY IN THE CITY OF AUSTIN STAY, WHERE THEY LIVE IN THEIR NEIGHBORHOOD.

I WOULD ALSO POINT OUT THAT AS PART OF OUR GENERAL OBLIGATION BOND, UH, IN RESPONSE TO WINTER STORM URI, WE WERE ABLE TO, UH, REPAIR DAMAGES FROM THAT STORM FOR 124 UNITS.

THESE ARE, THESE WERE EMERGENCY HOME REPAIRS AS A RESULT OF THAT STORM.

UM, SO IN TOTAL IT'S MORE THAN 725 UNITS HAVE BEEN PRESERVED JUST THROUGH THIS PROGRAM.

BUILD MORE HOUSING UNITS, UM, WITH, UH, REPURPOSED DOLLARS.

AND FINALLY, WE'LL GO OVER OUR HOUSING DEVELOPMENT ASSISTANCE PROGRAMS. NEXT SLIDE IN 2017, THE STRATEGIC HOUSING BLUEPRINT IDENTIFIED THE NEED FOR AFFORDABLE HOUSING THROUGHOUT THE CITY.

JUST AS A REMINDER, WE HAVE 20,000 UNITS BELOW 30% MEDIAN FAMILY INCOME.

WE NEED 25,000 UNITS BELOW 60% MEDIAN FAMILY INCOME, 15,000 UNITS BELOW 80% MEDIAN, FAMILY INCOME, AND 120 I'M SORRY, 25,000 UNITS BELOW 120% MEDIAN FAMILY INCOME.

THESE ARE EXTREMELY HIGH GOALS, BUT ONE OF THE KEY WAYS TO HIT THESE GOALS IS THROUGH OUR SUBSIDY PROGRAM.

OUR GAP FINANCING PROGRAMS KNOWN AS RENTAL HOUSING, DEVELOPMENT ASSISTANCE AND OWNERSHIP, HOUSING DEVELOPMENT SYSTEMS. NEXT SLIDE, OVER THE LAST 10 YEARS, THIS SHOWS THE ALLOCATION OF OUR FUNDS, UH, PER YEAR, AS YOU CAN SEE THE LAST FIVE YEARS, WE HAVE DOUBLED THE AWARDS OVER THE PREVIOUS FIVE YEARS.

THIS IS ALMOST ENTIRELY DUE TO THE 2018 GENERAL OBLIGATION BONDS.

I'LL ALSO POINT OUT THAT THERE ARE SEVERAL FISCAL YEARS THAT SHOW AN ALLOCATION OF 2018 GENERAL OBLIGATION BONDS.

THIS IS DUE TO THE FACT THAT A DEVELOPMENT MAY, UH, SEE INCREASED COSTS, UH, AND RETURNED TO HFC FOR AN ADDITIONAL SUBSIDY.

IN THOSE SITUATIONS, WE'LL NEGOTIATE WITH THE DEVELOPER TO EITHER PROVIDE DEEPER AFFORDABILITY OR PROVIDE MORE UNITS AT AN AFFORDABLE RATE.

I WOULD ALSO LIKE TO POINT OUT THE LARGE BLUE SECTION IN THE FISCAL YEAR 20 TO 21, THAT IS A 2006 GENERAL OBLIGATION BOND ALLOCATION.

UH, IN THAT FISCAL YEAR, WE WERE ABLE TO RECOUP SOME OF FUNDS DUE TO A REFINANCING OF A PROPERTY THAT HAD BEEN AWARDED PREVIOUSLY.

UH, THAT IS A WAY FOR US TO REPURPOSE OUR, UH, OUR BOND FUNDS SO THAT WE CAN

[00:15:01]

NEXT SLIDE, PLEASE, WITH THE ALLOCATION OF THOSE FUNDS, YOU CAN SEE OUR UNIT PRODUCTION BETWEEN IN THAT 10 YEAR SPAN.

OVER THE 10 YEARS, THE VAST MAJORITY OF OUR UNITS HAVE BEEN BELOW THE 50% MEDIAN FAMILY INCOME.

AND THAT IS AGAIN, DUE TO THE PROGRAMMATIC NATURE OF OUR HDA.

YOU'LL ALSO SEE THAT THERE ARE QUITE A FEW OF UNITS, UH, RENTAL UNITS AT 60%, 80% AT MARKET RATE.

THOSE ARE HIGHLIGHTED BECAUSE WHILE WE ONLY SUBSIDIZE THOSE UNITS BELOW 50%, A DEVELOPMENT WILL OFTEN INCLUDE UNITS AT THOSE HIGHER AFFORDABLE PRICES.

UH, WHILE WE ONLY COUNT THE 50% UNITS, THOSE OTHER UNITS ARE CREATED AND DO PROVIDE THE AFFORDABILITY.

SO WE JUST WANTED TO MAKE SURE THAT THOSE WERE NOT NOTED.

I WOULD ALSO POINT OUT THAT THE OWNERSHIP HOUSING, UH, THE ORANGE SECTION IS TARGETED PRIMARILY AT 80%.

WE HAVE SOME 60% UNITS, UH, IN THE OWNERSHIP COLUMN.

HOWEVER, THE DEEPER THAT YOU TRY TO TARGET AN AFFORDABLE UNIT, THE MORE DIFFICULT IT IS TO FIND AN INDIVIDUAL THAT IS MORTGAGE READY AND CAN'T AFFORD TO PAY FOR THE COST OF THAT UNIT.

SO A DEEP, DEEP, AFFORDABLE UNIT, A DEEP, DEEP AFFORDABLE OWNERSHIP UNIT MAY BE VERY DIFFICULT TO OCCUPY NEXT SLIDE.

AND THIS IS OUR PROJECTION FOR THE NEXT SEVERAL YEARS.

UH, THE BLUE SECTION SHOWS WHAT WE HAVE ON THE GROUND.

WHAT HAS BEEN CONSTRUCTED AND IS OCCUPIED.

THE ORANGE SECTION SECTION SHOWS WHAT HAS BEEN FUNDED HAS BEEN APPROVED AND IS EITHER UNDER CONSTRUCTION OR IN SOME FORM, SOME FORM OF DEVELOPMENT.

AS YOU CAN SEE ON THE SIDE, UH, WE HAVE APPROXIMATELY 1500 UNITS THAT WERE FUNDED AFTER FISCAL YEAR 2011 AND HAVE COME ONLINE.

SO OUR PORTFOLIO JUST IN THAT LAST 10 YEARS IS NOW 1500.

YOU'LL ALSO SEE THAT OVER THE NEXT THREE YEARS, TWO TO THREE YEARS, WE EXPECT TO SEE A DOUBLING OF OUR INVENTORY.

THIS IS DUE TO ALL OF THE UNITS THAT ARE IN THE PIPELINE THAT ARE COMING ONLINE THIS YEAR AND NEXT YEAR FOR THE OWNERSHIP SIDE, YOU'LL NOTICE THAT THIS EXTENDS OUT A LITTLE BIT FURTHER.

THIS IS PRIMARILY DUE TO THE FACT THAT IT TAKES LONGER TO BUILD SINGLE FAMILY DETACHED UNITS THAN IT DOES TO BUILD A MULTI-FAMILY STRUCTURE DUE TO THE, UH, ECONOMIES OF SCALE AND EFFICIENCIES OF A MULTIFAMILY DEVELOPMENT VERSUS A SINGLE FAMILY DEVELOPMENT.

HOWEVER THAT BY THE END OF FISCAL YEAR 26, 27, WE DO EXPECT A TRIPLING OF OUR OWNERSHIP PRODUCT, UH, AS MEASURED FROM FISCAL YEAR 2011.

ON NEXT SLIDE, PLEASE.

THE FINAL SECTION THAT I'D LIKE TO POINT OUT IS OUR CONTINUUM OF CARE PIPELINE.

AND THESE ARE UNITS THAT SERVE INDIVIDUALS WHO ARE EXPERIENCING OR HAVE, OR ARE AT RISK OF EXPERIENCING HOMELESSNESS.

WE CURRENTLY HAVE ABOUT 75 UNITS THAT ARE DEDICATED TO THE CONTINUUM OF CARE.

AND CONTINUUM OF CARE IS NOTED AS THOSE IN THOSE HOUSEHOLDS THAT ARE SOURCED FROM THE COORDINATED ASSESSMENT AS MANAGED BY ECHO.

THIS DOES NOT INCLUDE ALL PERMANENT SUPPORTIVE HOUSING UNITS, BUT IT DOES INCLUDE ALL UNITS THAT ARE SOURCED THROUGH THE COORDINATED ASSESSMENT OVER THE COURSE OF THE NEXT SEVERAL YEARS, WE DO EXPECT ON ALMOST TRIPLING OF OUR ORDINANCE CONTINUUM OF CARE UNITS AS WELL.

UM, THIS ONLY INCLUDES UNITS THAT ARE SUBSIDIZED THROUGH THE RHD PROGRAM AND DOES NOT NECESSARILY INCLUDE THE UNITS THAT ARE CREATED AS PART OF OUR, UH, HOTEL CONVERSION STRATEGY.

AND ONE OF THOSE LARGE DEVELOPMENTS THAT WE ARE LOOKING FORWARD TO COMPLETION, UH, HOPEFULLY THIS YEAR, UH, IS A SPARROW TO RUTLAND.

THIS IS A PARTNERSHIP WITH CARITAS OF AUSTIN AND THE RACINO GROUP.

IT IS 171 UNITS OF PERMANENT SUPPORTIVE HOUSING.

IT IS 100% AFFORDABLE, 100, AND ONE OF THOSE UNITS ARE DEDICATED TO THE CONTINUUM OF CARE.

THE OTHER 70 UNITS ARE SOURCED THROUGH CARITAS OF BOSTON'S WAITING LIST.

WE ARE VERY EXCITED ABOUT THIS PROPERTY COMING FORWARD AS IT WILL BE A KEYNOTE, A KEYSTONE FOR OUR PORTFOLIO.

OF WHICH ARE AFFORDABLE BELOW 50% OF THE MEDIAN FAMILY INCOME.

AND THE NEWEST ADDITION TO OUR PORTFOLIO IS VIKA.

LENA.

THIS IS A PROPERTY ON AT PLEASANT VALLEY.

IT IS A PARTNERSHIP WITH O S D A.

IT IS CURRENTLY LEASING.

IT IS 170 UNITS, 71

[00:20:01]

THE OTHERS ARE AFFORDABLE BELOW 80% OF THE MEDIAN FAMILY INCOME.

AND IT IS MIXTURE OF ONE, TWO AND THREE BEDROOM UNITS.

AS I MENTIONED, THIS IS LEASING NOW, AND WE ARE VERY EXCITED TO SEE THIS, UH, ON THE, ON THE GROUND AND FULL OF, UH, FULL OF PEOPLE NEXT LINE.

AND WITH THAT WITH, THANK YOU FOR YOUR TIME.

UM, I'D BE HAPPY TO ANSWER ANY QUESTIONS, COUNCIL MEMBER, UH, YOU HAVE ANY QUESTIONS COME ONTO MY BIRD ELLIS AND THEN COUNCIL MEMBER KITCHEN.

THANK YOU CHAIR.

I'VE GOT TWO QUICK QUESTIONS.

AND FIRST OF ALL, IT'S HUGELY EXCITING.

SEE THIS PROGRESS BEING MADE.

I KNOW EVERY UNIT WE CAN BRING ONLINE IS REALLY IMPORTANT TO MAKE SURE THAT WE HAVE A GOOD STOCK OF AFFORDABLE HOUSING IN, IN AUSTIN.

MY FIRST QUESTION IS ABOUT THE COMMUNITY LAND TRUST.

DOES THIS ONLY WORK FOR, UH, ONE FAMILY OR INDIVIDUAL WANTING TO ALLOW THEIR HOME TO BE A PART OF THIS, OR DOES THIS WORK FOR A SMALL MISSING MIDDLE OR, YOU KNOW, A LITTLE COURTYARD APARTMENTS, IF AN OWNER WERE TO WANT TO PARTICIPATE IN THAT, HOW DOES THAT WORK IN? IS THAT AN OPTION? SO WE DO HAVE GROUND LEASE OPTIONS FOR OUR MULTIFAMILY PROPERTIES.

UH, IT IS SOMETHING THAT WE DEPLOY THROUGH OUR PARTNERSHIPS.

PRIMARILY WE DON'T HAVE MANY, UH, MISSING MIDDLE GROUND LEASE, UH, EXAMPLES THAT I CAN POINT TO RIGHT NOW.

UM, BUT I THINK THAT WOULD BE A, UH, A PROGRAMMATIC DECISION THAT LOOK TO EITHER MANDY OR ROSIE TO TELL ME THAT I'M WRONG.

CATEGORY, WE HAVE AROUND 30 OR MORE THAN 3000 UNITS.

COUNCIL MEMBER, UM, MANDY DE MAYO, UM, UH, AUSTIN HEALTH AND FINANCE CORPORATION.

UH, I THINK WHAT'S THE QUESTION WHETHER OR NOT AN OWNER COULD ACTUALLY LIKE OPT INTO THE COMMUNITY LAND TRUST.

I, I'M TRYING TO KIND OF PULL APART THE QUESTION TO MAKE SURE THAT WE'RE ANSWERING IT APPROPRIATELY RIGHT NOW.

OUR COMMUNITY LAND TRUST IS ONLY SINGLE FAMILY HOMES.

UM, AND IT IS HOUSING THAT WE AS AUSTIN HOUSING FINANCE CORPORATION HAVE ACQUIRED AND REHABBED AND THEN SOLD TO AN INCOME QUALIFIED HOME BUYER.

UM, WE DON'T HAVE YET, UH, UH, A PROGRAM WHERE FOLKS COULD OPT INTO THAT, THAT COMMUNITY LAND TRUST IF THEY ARE ACTUAL HOMEOWNERS ALREADY.

BUT I WASN'T SURE IF I UNDERSTOOD THE QUESTION, THAT'S VERY HELPFUL.

IS THERE ANY EXPECTATION THAT YOU MIGHT EXPAND THAT WHERE PEOPLE COULD OPT INTO IT, JUST THINKING THERE MAY BE SOME HOUSING STOCK THAT IS FOR INSTANCE, A FOURPLEX BUILT IN THE SEVENTIES THAT THEY MAY WANT TO PROVIDE THAT STOCK INTO THE MARKET.

IS THAT SOMETHING YOU'D BE WILLING TO BRING INTO THE COMMUNITY LAND TRUST? SO RIGHT NOW WE'RE WORKING ON REALLY THE, THE, THE FOUNDATION OF OUR COMMUNITY LAND TRUST PROGRAM.

WE ARE, AS JAMIE MENTIONED, WE'RE JUST ABOUT DOUBLING ACTUALLY MORE THAN DOUBLING OUR PORTFOLIO.

SO OUR GOAL RIGHT NOW IS TO STAND UP OUR COMMUNITY LAND TRUST PROGRAM, UM, INFORM THE ENTIRE COMMUNITY THROUGH, UH, OUR OUTREACH AND COMMUNICATIONS PLAN AROUND THE ACLT LOTTERY, UM, AND REALLY TEST DRIVE THE PREFERENCE POLICY, SEE HOW IT GOES, ITERATE ON THE PREFERENCE POLICY.

THIS IS OUR PILOT PROGRAM.

AS WE, UH, ASSURED CITY COUNCIL, WE WOULD BE UNDERTAKING, UH, IT'S BEEN A COUPLE OF YEARS NOW WHEN WE FIRST, UH, RESPONDED TO CITY COUNCIL'S RESOLUTION REGARDING THE PREFERENCE POLICY, AND THEN HOPEFULLY IMPROVE ON THE PREFERENCE POLICY AS WE MOVE FORWARD.

SO RIGHT NOW OUR FOCUS REALLY IS ON STANDING UP B C L T THE LOCAL CLT PROGRAM.

AND THEN WE'RE GONNA LOOK AT, UM, UH, WHAT HAS BEEN SUCCESSFUL, WHAT THE DEMANDS ARE IN THE COMMUNITY.

AND THEN WE MAY COME BACK TO THE HOUSING AND PLANNING COMMITTEE, UM, UH, WITH SOME ADDITIONAL EXPANSION IDEAS.

THAT'S VERY HELPFUL.

AND I LOOK FORWARD TO THAT CONVERSATION AS YOU GET THIS PROGRAM OFF THE GROUND AND CONTINUE TO SEE HOW, HOW IT WORKS AND WHAT TYPE OF DEMAND THERE IS.

MY OTHER QUESTION IS ON SLIDE 15, WHERE IT TALKS ABOUT THE DIFFERENT LEVELS OF MEDIAN, FAMILY INCOME.

I JUST WANTED TO MAKE SURE I UNDERSTOOD THE SLIDE AND THE PERCENTAGES THAT ARE IDENTIFIED ON IT.

THEY ARE MUTUALLY EXCLUSIVE.

SO THE 50% IS ONLY UNITS FROM 50% DOWN TO 41.

RIGHT.

AND THEN 40% IS EVERYTHING FROM 40 TO 31.

SO NONE OF THEM ARE OVERLAPPING OR, UM, ADDING IN NUMBERS FROM ANY OTHER GROUP, CORRECT? CORRECT.

UM, IN TOTAL, FROM THE 50% AND BELOW

[00:25:01]

THAT'S, THAT'S GREAT.

AND I, UM, OBVIOUSLY I'M SUPPORTIVE OF, EVEN IF SOMETHING IS SET AT 50%, TRYING TO MAKE SURE THAT INDIVIDUALS WHO ARE UNDER THAT THRESHOLD STILL HAVE AN OPPORTUNITY TO PARTICIPATE, BUT JUST KNOWING THAT IT MAY BE DIFFICULT FOR FOLKS THAT ARE READY TO PARTICIPATE IN THAT PROGRAM TO HAVE ALL THE, ALL OF THE INFORMATION, THEY NEED TO BE READY TO MOVE INTO ONE OF THOSE UNITS.

SO JUST WANTED TO MAKE SURE I WAS UNDERSTANDING THE WAY THAT SLIDE WAS SPELLED OUT.

BUT THANK YOU.

UM, REMEMBER KITTEN, UM, THANK YOU.

I HAVE, UH, TWO QUESTIONS.

UH, THE FIRST ONE, UM, I THINK I UNDERSTOOD, BUT JUST WANTED TO VERIFY THAT WITH REGARD TO, I THINK IT WAS A HUNDRED MILLION THAT WAS ALLOCATED FOR, UM, ACQUISITION, UM, IS THAT, UH, I THINK YOU MENTIONED THAT IT WAS ALL ALLOCATED, BUT NOT ALL SPENT YET.

DOES THAT, DOES THAT MEAN THAT, UH, WE'VE IDENTIFIED THE PROPERTIES AND WE'RE JUST IN THE PROCESS OF PURCHASING OR HELP ME UNDERSTAND WHAT THAT MEANS? JAMIE, I'M HAPPY TO TAKE THAT, UH, BECAUSE I'VE BEEN THINKING A LOT ABOUT THIS.

UH, RIGHT NOW WE HAVE ABOUT $80 MILLION HAS ALREADY BEEN ENCUMBERED OUT OF THE HUNDRED.

WE'VE ALREADY PURCHASED THE PROPERTY OR SIGNED A LOAN AT THE SIGNING OF THAT, UM, PURCHASE AGREEMENT, UH, OF THAT 20 MILLION.

WE HAVE IDENTIFIED ADDITIONAL PARCELS, UM, AND WE ANTICIPATE TO CLOSE ON THOSE PARCELS.

WE'LL BRING IT A H S C BOARD, UM, THIS FISCAL YEAR.

SO WE ANTICIPATE BEING A HUNDRED PERCENT FULLY ENCUMBERED BY THE END OF THIS FISCAL YEAR WHERE OUR LAND ACQUISITION DOLLARS.

UH, MY SECOND QUESTION THEN HAS TO GO WITH, HAS TO GO TO, OR GOES TO THE COC UNITS.

SO, UM, JUST A QUICK LOOK.

UM, IT SEEMS TO ME THAT THERE'S A BIG JUMP IN COC UNITS.

IS THAT, IS THAT ALL DUE TO THE OPENING OR IS THERE OTHERS IN THERE THAT'S GOING TO CONTRIBUTE TO THAT? IT IS NOT ENTIRELY A SPARROW, UM, BUT IT IS, UH, IF YOU SEE THE, UH, THE JUMP BETWEEN FISCAL YEAR 2021 TO FISCAL YEAR 21, 22, I BELIEVE THAT'S THE, THAT'S WHERE A SPARROW IS NOTED.

UM, OKAY.

UH, THE, I CA I CAN FIND OUT EXACTLY WHAT THE NEXT, UH, LARGE PARCEL IS.

UM, BUT THIS DOES NOT, AS I MENTIONED, THIS DOES NOT INCLUDE OUR HOTEL CONVERSION STRATEGY.

UM, SO THERE WOULD BE THAT NET, THAT CHUMP IS GOING TO BE EVEN BIGGER.

UM, AND I GUESS MY BIGGER QUESTION, WHICH IS ACTUALLY JUST MAYBE INFORMATION THAT YOU ALL CAN PROVIDE IS I'M TRYING TO REMEMBER HOW WE'RE GROWING THE COC UNITS.

IN OTHER WORDS, WHAT IS THE POLICY THAT GROWS THEM? I MEAN, WE OBVIOUSLY HAVE THE ACQUISITION APPROACH, THE HOTEL MOTEL ACQUISITION APPROACH.

UM, BUT BEYOND THAT, DO WE, WHAT DO WE FORESEE EVEN BEYOND THAT SLIDE, I GUESS? SO THERE ARE, THERE ARE TWO, UH, POLICIES THAT ARE PLAY FIRST FOR THE RENTAL HOUSING DEVELOPMENT ASSISTANCE PROGRAM.

WE DO INCENTIVIZE THE CREATION OF COC UNITS, UH, THROUGH INCREASED SUBSIDIES.

WE KNOW THAT A COC UNIT IS GOING TO HAVE A LONGER, UH, UH, OPERATIONAL TRAIL.

SO THERE'S GOING TO BE MORE MONEY NEEDED IN ORDER TO, UH, KEEP THOSE UNITS STABLE, UH, FOR THE LONGTERM.

SO, WHEREAS FOR A TRADITIONAL AFFORDABLE HOUSING UNIT, UH, IN AN RHD PROGRAM, WE WOULD TARGET AROUND $50,000 PER SUBSIDY FOR A, A COC UNIT.

WE'RE ALLOWING THAT TO GO UP TO A HUNDRED THOUSAND DOLLARS PER UNIT.

UH, WE HAVE A DEVELOPMENT COMING BEFORE YOU NEXT, UH, NEXT WEEK, UH, THAT IS 45 PERMANENT SUPPORTIVE HOUSING UNITS, UH, SOURCED THROUGH THE CONTINUUM OF CARE, UH, THAT ARE, UH, UH, OUR SUBSIDY IS AROUND $100,000 PER YEAR.

THE SECOND STRATEGY IS A NON-SUBSIDIZED AND THAT IS MANAGED BY ECHO ECHO, UH, PERFORM SOME LANDLORD OUTREACH, UH, SO THAT THEY CAN FIND, UH, PROPERTIES IN THE AUSTIN AREA THAT WE'LL ACCEPT INDIVIDUALS WHO HAVE VOUCHERS THAT COME OFF AS THE COORDINATED ASSESSMENT.

AND JAMIE, UH, IF I COULD JUMP IN, I WOULD ALSO KNOW THAT THROUGH OUR LAND ACQUISITION STRATEGY, WE ARE LEVERAGING OUR H H S C ASSETS TO, UM,

[00:30:01]

PRODUCE, UH, COC UNITS.

UM, AND I'LL USE AS AN EXAMPLE, THE GARDINER TRACT, WHICH HFC BOARD APPROVED.

THIS WAS A SOLICITATION IT'S RIGHT NEXT TO, UM, ON THE AUSTIN PUBLIC HEALTH, UH, CAMPUS, UH, WHERE THE ANIMAL SHELTER IS, UH, WE HAVE ABOUT A NINE ACRE ATTRACTIVE LAND.

WE DID A SOLICITATION WHERE WE INCENTIVIZE BOTH FAMILY SIZE UNITS AND DEEPLY AFFORDABLE COC UNITS.

THE SUCCESSFUL PROPOSER WAS THE PACINO GROUP AND CARITAS.

UM, AND, UH, WE ARE IN THE PROCESS OF WORKING THROUGH THE DETAILS OF THE FINANCING PLAN, BUT THAT IS GOING TO RESULT IN A SIGNIFICANT NUMBER OF COC UNITS, INTEGRATED INTO A LARGER DEVELOPMENT.

AND THEN JAMIE ALSO MENTIONED THE MAINER ROAD SOLICITATION THAT SHOULD BE COMING OUT IN THE COMING WEEKS.

UM, AND THAT WILL ALSO INCLUDE, UH, BOTH COC, UM, UH, UNITS AND, UH, WORKFORCE DEVELOPMENT WORKFORCE UNITS.

WE'RE REALLY EXCITED ABOUT THAT SOLICITATION AS WELL.

THANK YOU TOO, COUNCIL MEMBERS.

THERE ARE ANY OTHER QUESTIONS ON COUNCIL MEMBER MADISON.

UH, THANK YOU, CHAIR.

I JUST HAVE ONE QUESTION.

I WAS LOOKING AT COMPARATIVELY THAT THE NUMBER OF ACQUISITION UNITS IN DISTRICT ONE, IT SEEMS LIKE THERE'S A HUGE DISPARITY.

I'M CURIOUS IF YOU CAN GIVE ME THE REASON BEHIND THAT, THE ACQUISITION OF UNC.

OH, IT WAS LIKE 0.4, FIVE FOR , BUT LIKE 15 AND SOME CHANGE ELSEWHERE.

I'M JUST TRYING TO FIGURE OUT WHAT'S THE, WHAT'S THE RATIONALE FOR THE DIFFERENCE? THERE IS A MEMBER AT, SORRY, JAMIE, I DO JUST WANT TO THE 0.4, FIVE, I BELIEVE SHOULD BE THE MAIN ROAD.

UH, ONE PARCEL.

WE DID AN ASSEMBLAGE.

SO MAIN ROAD IS ACTUALLY TWO PARCELS THAT WE ASSEMBLED TOGETHER, WHICH IS INDEED ONE.

UM, BUT I WILL NOTE PRIOR TO THE 2018 AFFORDABLE HOUSING BONDS WE HAD, OR JUST SEVERAL PARCELS OF LAND, UM, ONE OF WHICH WAS THE TANNEHILL HILL SOLICITATION THAT WE JUST COMPLETED, UM, WAS IN DISTRICT ON.

UM, AND SO WE REALLY WANTED TO LOOK ACROSS ALL 10 CITY COUNCIL DISTRICTS AND SEE WHERE WE COULD FIND A LAND THAT MET CERTAIN CRITERIA.

AND THAT CRITERIA WOULD INCLUDE GENTRIFYING AREAS.

WHAT WE PREVIOUSLY CALLED HIGH OPPORTUNITY AREAS, OR THAT HAD BEEN EXCLUDED FROM AFFORDABLE HOUSING, UH, DEVELOPMENT.

SO WE WERE REALLY PLEASED WHEN WE WERE ABLE TO ACQUIRE, UH, TWO PARCELS FOR AN ASSEMBLAGE IN D EIGHT, BECAUSE WE PREVIOUSLY HAD VERY LITTLE AFFORDABLE HOUSING INVENTORY IN D EIGHT.

AND WE, OF COURSE ARE ALSO ALIGNING OUR ACQUISITIONS WITH PROJECT CONNECT.

I WILL ASSURE YOU, WE ARE NOT DONE YET.

UM, OUR LAND ACQUISITION STRATEGY AT CONTINUES, WE ARE VERY EAGER TO GET, UM, UH, DEVELOPABLE LAND IN AREAS.

AGAIN, GENTRIFYING AREAS, AREAS OF HIGH OPPORTUNITY AREAS CONNECTED WITH TRANSIT, AND CERTAINLY , UH, IT'S A PRIORITY FOR US AND OUR TEAM.

I APPRECIATE THAT.

SURE.

CAN I ASK A FOLLOW-UP QUESTION? YES.

UM, THIS IS, THIS IS REALLY IMPORTANT.

I APPRECIATE, UH, COUNCIL MEMBER ARBOR MADISON FOR BRINGING IT UP.

UM, I WANT TO MAKE SURE I UNDERSTAND, UNDERSTAND IT.

UM, SO, UM, SO COUNCIL MEMBER, YOU WERE MENTIONED YOU 0.4, FIVE, IS THAT RIGHT? IS, UH, I DIDN'T NOTICE THAT ON THE SLIDE.

SO IF YOU COULD SHOW ME THAT WOULD HELP ME, UM, HELP ME GET THIS IN MY HEAD.

MAYBE IF, IF I SAW THE MAP WITH THE, UH, THE DOTS, CAN YOU PULL IT UP AGAIN OR NO, IF YOU CAN'T THAT'S OKAY.

BUT WE WOULD ASK FOR AVI ASSISTANCE ON THAT.

AND IF WE COULD GO BACK TO SLIDE EIGHT, PLEASE.

SO I WAS JUST, UH, SO WE'RE, WE'RE LOOKING AT THE, THIS IS, THESE ARE THE ACQUISITIONS ASSOCIATED WITH THE 2018 BOND PROGRAM.

WILL NOTE THAT PRIOR ACQUISITIONS THAT WE HAVE DONE SOLICITATIONS ON WHICH INCLUDED TILLERY TANNAHILL, UH, AND GARDNER WERE, UH, PURCHASED USING DIFFERENT SOURCES OF FUNDS.

AND SO THIS IS JUST 2018 BOND.

[00:35:01]

UH, SO, BUT THIS DOES GIVE A BREAKDOWN OF ALL, TENDS TO BE COUNCIL DISTRICTS.

AND AS JAMIE MENTIONED, WE HAVE ACHIEVED THUS FAR ACQUISITIONS IN SEVEN OF THE 10 CITY COUNCILS.

SO, SO THE, THE GOAL HERE IS TO, TO GO MORE BROAD IN TERMS OF THE, UM, THE NUMBER OF COUNCIL DISTRICTS THAT ARE COVERED.

I WAS, I WAS NOT UNDERSTANDING THE 0.45, CAUSE IT ACTUALLY LOOKS LIKE 0.4, FIVE IS ACTUALLY LESS ACREAGE IN COUNCIL DISTRICT ONE THAN IN THE OTHER DISTRICTS.

BUT THE POINT IS, I THINK THAT WE'RE NOT HITTING ALL THE DISTRICTS, RIGHT.

IS THAT WHAT YOU WERE SPEAKING TO? SO I THINK THE GOAL IS NOT ABSOLUTE PARODY.

I SHOULD, I SHOULD BE CLEAR.

NO, WE'RE TRYING TO BE, WE'RE JUST NOT PARODY, BUT WE'RE TRYING TO REACH THE WHOLE CITY.

RIGHT.

WE WOULD LIKE TO REACH THE WHOLE CITY.

WE WOULD LIKE TO REACH AREAS THAT HAVE HISTORICALLY BEEN EXCLUDED FROM AFFORDABLE HOUSING, WHICH, UH, OFTEN IS CONTEMPLATED AS, UH, WEST AUSTIN.

WE WANT TO CERTAINLY FOCUS OUR DOLLARS ON GENTRIFYING AREAS AND AREAS AT RISK OF, UM, DISPLACEMENT.

UM, AND THEN ONE OF OUR HIGHEST PRIORITIES IS ALIGNMENT WITH PROJECT CONNECT.

UM, AND SO THROUGH OUR EXISTING ACQUISITIONS, WE HAVE TRIED TO HIT ALL OF THOSE WHEN WE CAN OR LOSE THAT COMBINATION OF THOSE.

UH, WHEN WE CAN, THE 0.4, FIVE ACRES WAS A REFERENCE THAT OBVIOUSLY A SMALLER AMOUNT THAN IN OTHER DISTRICTS.

UH, AND IT WAS A PARCEL THAT WE HAD ACQUIRED TO ASSEMBLE WITH A LARGER PARCEL THAT WE WERE PUTTING OUT FOR SOLICITATION.

AND THAT'S WHAT JAMIE AT THE MAIN ROAD.

I UNDERSTAND NOW THANK YOU VERY MUCH CONSOLE.

WAS THERE ANY OTHER QUESTIONS OR JUST MOVE ON FROM THEN TO ITEM THREE? UH, JARED, HERE'S A COUPLE OF QUICK QUESTIONS, JUST TRYING TO GET FAMILIAR WITH SOME OF THE PROGRAMS. OKAY.

UM, JUST AND NOT BRIEFING.

I'M JUST TRYING TO GET MYSELF A LITTLE MORE FAMILIAR.

THE TERMS OF THE ASSISTANT PROGRAM, BOTH FOR THE REPAIRS AND FOR THE COMMUNITY LAND, TRUST OWNERSHIP.

UH, ARE THOSE GIVEN TO FOLKS THAT QUALIFY OR ARE THEY DONE ON FAVORABLE TERMS FOR, FOR EXAMPLE, THE, THE, THE REPAIRS OR, UH, COULD YOU JUST BRIEFLY, UH, DISCUSS THAT? OH, HELLO.

I THINK OUR SPEAKER MAY BE ON MUTE.

DID Y'ALL HEAR THE KIDS QUESTION? I'M SEEING LIPS MOVING ON THE WEBEX, BUT NOT THE AUDIO FOR IT AGAIN.

CAN YOU HEAR, WE CAN HEAR A FOLLOWING.

OH, I HEAR MANDY AGAIN.

CAN YOU ALL HEAR ME FINE? YES.

NOW I CAN.

UM, SO COUNCIL MEMBER VELA, I, I THINK THE QUESTION WAS KIND OF TWO PART, AND IT WAS ABOUT THE TERMS OR HOW THE LOANS ARE STRUCTURED, WHERE OUR COMMUNITY LAND TRUST, AND THEN FOR OUR GO REPAIR PROGRAM.

IT HAS TO BE A SINGLE FAMILY HOME AS YOU OWN IT FEE SIMPLE.

I'LL JUST SAY FOR THE GO REPAIR PROGRAM, THAT IS A PARTNERSHIP WITH SEVEN NONPROFIT ORGANIZATIONS.

IT IS ACTUALLY A GRANT WE PROVIDE, UM, UP TO $20,000 IN HOMER PAIRS, UM, FOR INCOME QUALIFIED HOMEOWNERS.

AND THERE ARE REQUIREMENTS YOU NEED TO BE AT OR BELOW 80% MEDIAN FAMILY INCOME.

SO WE DO AN INCOME CERTIFICATION.

TYPICALLY THE HOME OWNERS ARE SOMEWHERE BETWEEN 50 AND 60% MEDIAN FAMILY INCOME IS WHAT WE FIND ON AVERAGE.

UM, THE HOME REPAIRS ARE HEALTH AND SAFETY RELATED, UM, AND THEY ENABLE, UH, THE LOW-INCOME HOME OWNERS.

YOU HAVE TO OWN THE HOME.

[00:40:01]

AND IT HAS TO BE WITHIN THE FULL PURPOSE JURISDICTION OF THE CITY OF AUSTIN.

THERE IS AGAIN, IT'S A GRANT, THERE IS NO LOAN.

WE DO ADMINISTER A LOAN PROGRAM FOR A LARGER, UH, REALLY MORE EXPANSIVE HOME REPAIR.

THAT'S OUR HOME REPAIR LOAN PROGRAM, WHICH GOES UP TO 75,000, UH, DOLLARS THAT, OKAY.

AND THEN I KNOW JAMIE WAS, WAS, WAS TALKING, BUT I DON'T THINK YOU COULD HEAR ABOUT THE CLT PROGRAM AND HOW WE INCOME QUALIFY.

AND, UM, SO I'LL LET JAMIE DO THAT.

UM, AS MENTIONED THE, UH, COMMUNITY LAND TRUST PROGRAM, UH, WE'LL BE USING THE PREFERENCE POLICY TO SELECT INDIVIDUALS.

UH, IT WILL BE INCOME QUALIFY FOR OUR OWNERSHIP PRODUCT.

UH, I BELIEVE AT 80%, UH, MEDIAN FAMILY INCOME, UH, ONCE THE HOMEOWNER, UH, PURCHASES THE STRUCTURE AGAIN, JUST TO BE CLEAR, THE STRUCTURE IS OWNED BY THE HOMEOWNER.

THE LAND IS OWNED BY THE COMMUNITY LAND TRUST.

UM, THE, ONCE THE HOMEOWNER PURCHASES, THE UNIT, UH, THEY WILL HOLD IT AS LONG AS THEY, UH, BASICALLY AS LONG AS THEY WANT TO LET THEIR EQUITY BILL WILL BE RESTRICTED AT A CERTAIN PERCENTAGE PER YEAR.

UM, SO ONCE THEY DO RESELL, THEY WILL HAVE TO RESELL TO A INCOME QUALIFIED PURCHASER AND, UH, THAT EQUITY, UH, WILL BE KEPT, I BELIEVE IT'S AT 2% PER YEAR.

UM, DOES THAT ANSWER YOUR QUESTION, COUNCILMAN? THAT DOES, UH, SO DO THEY HAVE TITLE TO THE, UH, UH, PROPERTY, BUT NOT TO THE, TO THE IMPROVEMENTS, BUT NOT TO THE REAL PROPERTY? CORRECT? CORRECT.

IS A SEPARATION OF THE DIRT FROM THE STICKS.

UM, AND THEN FOR EXAMPLE, CAN THEIR FAMILY MEMBERS INHERIT? CAN THEY PASS THE, THE IMPROVEMENTS ON TO THEIR FAMILY MEMBERS? YES.

THERE, THERE ARE RIGHTS OF INHERITANCE.

UM, AND ALSO WE SHOULD NOTE THAT THE HOME BUYERS IN A CLT GET A MORTGAGE, THEY GET A STANDARD MORTGAGE.

HMM HMM.

SO AS PART OF OUR, UH, RENTAL HOUSING DEVELOPMENT ASSISTANCE PROGRAM, UH, WE HAVE REQUESTS FROM DEVELOPERS FOR, TO FILL THE GAP.

SO THIS IS ESSENTIALLY DESIGNED TO MIMIC YOUR TRADITIONAL SINGLE FAMILY HOME OWNERSHIP MINUS THE LAND APPRECIATION AND HOW MANY PROPERTIES AGAIN ABOUT, UH, DO WE HAVE IN THE COMMUNITY LAND TRUST RIGHT NOW? RIGHT NOW WE HAVE 15 OCCUPIED DLT PROPERTIES.

UM, AND WE'VE BEEN BUILDING THAT UP OVER.

I'M GOING TO SAY CLOSE TO 10 YEARS.

UH, LAST YEAR WE PURCHASED A PORTFOLIO FROM THE HOUSING AUTHORITY OF THE CITY OF AUSTIN, OF 20 SINGLE FAMILY HOMES.

WE HAVE BEEN SLOWLY REHABBING THOSE AND PUT THOSE INTO OUR CLT PORTFOLIO.

AND SO WHEN JAMIE MENTIONED THE LOTTERY, UM, WE NOW HAVE AN ADDITIONAL 29 DLT PROPERTIES THAT WILL BE GOING OUT THROUGH OUR LOTTERY PROCESS, RELATE THROUGH THIS YEAR.

THAT'S GREAT.

SO I GUESS OVER THE LONG-TERM, THE IDEA IS TO BUILD UP A LARGE PORTFOLIO OF THESE PROPERTIES AND HAVE THIS KIND OF SUBSIDIZED A SLIVER OF A SINGLE FAMILY HOMES AVAILABLE FROM THE CITY OF AUSTIN.

HUH? THAT IS CORRECT.

UM, AS YOU KNOW, FROM A HOME OWNERSHIP PERSPECTIVE, WE'RE LOOKING AT THE MEDIAN HOME SALES PRICE IN THE CITY OF AUSTIN UP CLOSE TO $600,000, UH, FOR SALES.

AND, UH, WE'RE FINDING THAT OUR COMMUNITY LAND TRUST WHILE IT'S NOT SCALED.

I MEAN, OBVIOUSLY WE HAVE A VERY SMALL PORTFOLIO RIGHT NOW, BUT THE COMMUNITY LAND TRUST PROGRAM IS ONE WAY IN WHICH WE CAN HELP LOW AND MODERATE INCOME HOME BUYERS BE ABLE TO ACCESS HOME OWNERSHIP.

WE ALSO OPERATE A DOWN PAYMENT ASSISTANCE PROGRAM.

UM, THROUGH OUR INCENTIVE PROGRAMS, WE HAVE A VARIETY OF, UM, UH, LONG-TERM AFFORDABILITY WHERE WE DON'T NECESSARILY SUBSIDIZE IT, BUT IT'S INCORPORATED, UM, INTO DEVELOPMENTS AND IT'S, IT'S KEPT EQUITY, AS JAMIE MENTIONED AT 2% AFFORDABILITY.

SO THERE ARE SOME DIFFERENT MECHANISMS, BUT OUR COMMUNITY LAND TRUST IS REALLY ONE WAY THAT WE CAN FAIRLY EFFICIENTLY AND EFFECTIVELY HELP ADDITIONAL HOME BUYERS.

GREAT.

AND JUST ONE MORE FOLLOW UP.

YOU HAD MENTIONED A SUBSIDY PER UNIT, UH, IN THE $50,000 A UNIT RANGE, AND THEN MENTIONED THAT FOR THE, UH, PERMANENTLY SUPPORTIVE HOUSING WAS IN THE A HUNDRED THOUSAND DOLLARS A UNIT RANGE.

COULD YOU UNPACK THAT A LITTLE BIT, UH, IS THAT LIKE A CONSTRUCTION SUBSIDY OR WHAT DOES THAT SUBSIDY ENTAIL?

[00:45:01]

UH, THEY HAVE A, THEY HAVE BUILT THEIR, THEIR CAPITAL, UH, TO CONSTRUCT THE DEVELOPMENT.

AND, UH, WHEN THEY'RE PROVIDING THAT AFFORDABILITY, INVARIABLY THERE IS A RATHER LARGE GAP.

UM, OUR GUARDRAILS, UH, IT'S NOT A PROGRAMMATIC OR A GUIDELINES, UH, ISSUE.

IT'S MORE OF JUST, UH, A GUARD RAIL FOR US TO STAY CONSISTENT, UH, IS TO LOOK AT $50,000 PER SUBSIDIZED UNIT.

SO ANY UNIT BELOW 50% MEDIAN FAMILY INCOME, UM, WE'RE GOING TO TARGET TO SPEND AROUND $50,000 FOR THE CONSTRUCTION AND THAT CONSTRUCTION THAT SUBSIDY ON THE CONSTRUCTION WILL HELP SUBSIDIZE THE, UH, UM, OR SUSTAINABLY, UH, MAKE THE OPERATION OF THAT DEVELOPMENT MORE SUSTAINABLE IN THE LONGTERM.

UH, SINCE THE DEBT IS LOWER, UH, ON THE FRONT END, UH, WE KNOW THAT CONSTRUCTION COSTS ARE GOING UP.

SO WHAT USED TO COST $20 MILLION TO BUILD A 200 UNIT DEVELOPMENT NOW COSTS $25 MILLION.

UM, AND WHILE BANKS ARE MORE THAN WILLING TO, UH, ISSUE ADDITIONAL, UH, FUNDS, UH, EVERY TIME A PRIVATE LOAN IS ISSUED THAT INCREASES THE CARRYING COSTS FOR THE DEVELOPMENT.

SO WE ARE AN ATTRACTIVE ALTERNATIVE TO PRIVATE EQUITY OR PRIVATE FUNDING, UM, UH, IN ORDER TO MAINTAIN OUR, UH, OUR FUNDS AND TO DISTRIBUTE THEM AS FAR AND AS WIDE AS WE POSSIBLY CAN.

WE STILL HAVE THAT GUARDWARE GUARDRAIL OF $50,000.

HOWEVER, WE KNOW THAT WE'RE GOING TO PUSH UP AGAINST THAT GUARDRAIL AND GO PROBABLY A LITTLE FURTHER, UM, PARTICULARLY FOR DEVELOPMENTS CURRENTLY UNDER THE UNDER CONSTRUCTION OR, OR COMING DOWN THE PIPELINE, UM, WHEN IT COMES TO PERMANENT SUPPORTIVE HOUSING, WE KNOW THAT THE OPERATION IS NOT GOING TO HAVE THE SAME CASHFLOW AS AN AFFORDABLE HOUSING DEVELOPMENT.

SO THE CONSTRUCTION REALLY DOES REQUIRE MORE SUBSIDY ON THE FRONT END.

UH, IT'S A WAY TO MAINTAIN THAT LONG-TERM AFFORDABILITY WHILE STILL RECOGNIZING THAT A PERMANENT SUPPORTIVE HOUSING DEVELOPMENT WILL NOT HAVE THE CAPACITY TO PAY OFF A LARGE BANK NOTE.

UM, BUT THEY WOULD BE ABLE TO PAY OFF A SMALLER BANK NOTE SO LONG AS THEY HAVE A LARGER SUBSIDY FROM THE CITY.

OKAY, THANK YOU VERY MUCH.

THAT'S VERY HELPFUL.

AND TO THE FINAL QUESTION, THE TITLE TO THE PROPERTIES THAT THE CITY IS BUILDING IS HELD BY THE CITY, UH, AND THEN THE CITY RECEIVES THE RENTAL FUNDS, WHATEVER THAT THEY MAY BE, UH, IS THAT CORRECT FOR, UH, FOR OUR PARTNERSHIPS, WE CREATE AN AFFILIATE OF THE AUSTIN HOUSING FINANCE CORPORATION TO HOLD THE PROPERTY.

AND THAT AFFILIATE IS ALSO A PARTNER IN THE OWNERSHIP OF THE STRUCTURE.

SO WE HAVE A IT'S, IT MIGHT BE A LITTLE OVERLY COMPLEX, BUT IT'S, UH, ONE AFFILIATE OWNS THE PROPERTY, THE GROUND AND ISSUES OF GROUND LEASE TO THE PARTNERSHIP.

AND A PARTNERSHIP IS COMPRISED OF AT LEAST 1% OF THE PARTNERSHIP IS, IS AN HFC AFFILIATE.

SO WE'RE INVOLVED IN MULTIPLE PHASES OF THE OWNERSHIP STRUCTURE, UM, BY BEING A, BY HOLDING THE GROUND LEASE.

AND BY BEING A MEMBER OF THE PARTNERSHIP THAT OWNS THE PROPERTY DEVELOPMENT, UH, THAT'S HOW WE ARE ABLE TO SECURE THAT, UH, UH, TAX ABATEMENT FOR THE PROPERTY.

HMM.

AND THEN THIS IS ALL BEING DONE BY THE, THE AUSTIN HIGH HOUSING FINANCE CORPORATION, RIGHT.

THE BODY THAT WAS MORPHED INTO ONCE IN A WHILE TO, UH, UH, PASS SOME AGENDA ITEMS ON.

AND WE ALSO HAVE NONPROFITS THAT HAVE LAND TRUST.

UH, THE ADVANTAGE OVER THIS FOR THE CITY IS THAT WE DON'T PAY ANY PROP, ANY LAND TAXES, WHICH IS VERY EXPENSIVE.

THE NONPROFIT HAS TO PAY A CERTAIN PERCENTAGE OF IT.

SO, UH, BUT THOSE ARE OUR PARTNERS, UH, COUNCIL MEMBER MADISON.

I APPRECIATE IT.

I'M ON MUTE.

I'M GOING TO READ IT.

UM, I, I DO HAVE ACTUALLY ONE MORE QUESTION ALONG THE LINES OF THAT HOME REPAIR PROGRAM.

SO, YOU KNOW, RECENTLY THERE WAS THE WHITE HOUSE PRESENTATION SHOULD NOT ADU POLICY.

AND ONE OF THE THINGS THAT THEY MENTIONED WAS POLICY CHANGE THAT WOULD ALLOW US TO USE A HOME REPAIR PROGRAM FUNDING, UH, TO BUILD ADU.

I WONDER IF STAFF HAS LOOKED INTO THAT, UH, COUNCIL MEMBER, WE HAVE NOT LOOKED INTO DIVERTING ANY OF OUR HOME REPAIR PROGRAMS SPECIFICALLY FOR ADU RIGHT NOW, OUR HOMEWORK REPAIR PROGRAMS ARE FEDERALLY FUNDED, UM, THROUGH EITHER, UM, OWN OR CDBG COMMUNITY DEVELOPMENT BLOCK GRANT.

WE HAVE A LONGSTANDING PARTNERSHIP WITH THE

[00:50:01]

AUSTIN AREA, URBAN LEAGUE TO DO MINOR HOME REPAIRS.

UM, AND, UH, SO WE HAVE NOT LOOKED AT UTILIZING ANY OF THOSE.

WE'VE LOOKED AT INCREASING THE DEVELOPMENT OF ACCESSORY DWELLING UNITS, BUT NOT AT DIVERTING ANY FR EXISTING HOME REPAIR PROGRAM FUNDS FOR THE PROMOTION OF ACCESSORY DWELLING UNIT.

UM, MEMBERS THAT WE NEED TO, UH, MOVE ON.

AND, UH, UH, UH, COME FROM ALABAMA MADISON.

WE WANT TO HAVE THAT, UH, AFTER THE DISCUSSION I FOR RIGHT NEXT MEETING, WE CAN DO THAT.

SO WE'LL, WE'LL PUT THAT DOWN AND HAVE THAT ITEM TO DISCUSS ON OUR NEXT MEETING,

[3. Briefing and update on Project Connect.]

CAUSE WE HAVE ANOTHER ONE THAT'S PROBABLY GOING TO HAVE A LOT OF QUESTIONS AND, UH, PRINT AN UPDATE ON PROJECT CONNECT.

THANK YOU, MR. CHAIR, UH, ASSISTANT DIRECTOR CUPID ALEXANDER WILL BE DELIVERING THIS PRESENTATION.

THANK YOU, ROSIE, UH, GREETINGS COUNCIL MEMBERS AND WELCOME COUNCIL MEMBER.

FAILLA, UH, I'VE BEEN KNOWN TO BE A TERRIBLE COMEDIAN WITH THE WORST DAD JOKES, BUT I HAVE TO SAY HAPPY TUESDAY, IT'S THE SECOND MONTH, THE 22ND DAY AND THE 22ND YEAR.

AND IT HAPPENS TO BE TUESDAY.

SO, UM, IN CASE YOU ALL WANT TO KNOW, UH, THIS SLIDE SHOW IS 14 SLIDES.

I'LL DO MY BEST TO GO QUICKLY, BUT GO THOROUGHLY.

UH, GENERALLY YOU ALL ARE PRETTY WELL VERSED AT THIS.

UM, AND ALSO I JUST WANT TO LET YOU KNOW, WE WILL BOTH HAVE STEVIE GREAT HOUSE AND FOR TD JACKMAN JOINING AT THE END, IN CASE YOU HAVE ANY REALLY SPECIFIC TECHNICAL QUESTIONS.

AGAIN, MY NAME IS CUPID ALEXANDER, AND I'M HAPPY TO SERVE AS THE ASSISTANT DIRECTOR HERE IN HOUSING AND PLANNING.

SO TODAY'S PRESENTATION IS ORGANIZED TO COVER THESE TOPICS.

OF COURSE, WE CAN ANSWER ANY OTHER QUESTIONS YOU MAY HAVE, AND IF WE DON'T HAPPEN TO HAVE AN ANSWER, WE WILL BE HAPPY TO FOLLOW UP NEXT SLIDE.

SO I WANTED TO TAKE A MOMENT TO PUT US ALL ON THE SAME PAGE.

IN MANY OF THESE CONVERSATIONS, WE TEND TO MOVE QUICKLY WITHOUT UNDERSTANDING WHAT WE ARE ADDRESSING.

SOME PEOPLE ARE TALKING ABOUT LAND USE POLICIES.

OTHERS ARE TALKING ABOUT THE PROJECTION OF WHAT IS NEEDED BASED OFF CENSUS DATA OR AMERICAN COMMUNITY SURVEY PROJECTIONS, STILL MORE TALKING ABOUT SUBSIDIZED HOUSING AS OPPOSED TO AFFORDABLE HOUSING.

AND THEY BE MAYBE MENTIONING THE ENTIRETY OF AUSTIN VERSUS A SPECIFIC INVESTMENT CORRIDOR.

WE TODAY ARE TALKING ABOUT PEOPLE AND CENTERING PEOPLE AND PROVIDING A SERVICE.

WE ARE UNIQUELY TALKING ABOUT AN OPPORTUNITY TO DO OUR BEST, TO PRESERVE OPPORTUNITIES FOR THOSE WHO HAVE THE LEAST NUMBER OF OPTIONS IN BOTH OUR FRONT END FORWARD-LOOKING EFFORTS AND ALONG EACH STEP OF THE PROCESS THROUGH PLANNING AND INVESTMENTS, THIS EXISTS DUE TO NOT ONLY AUSTIN ATTRACTING MORE RESIDENTS, BUT ALSO AS A RESULT IN THE INFRASTRUCTURE INVESTMENT TO EXPAND PUBLIC TRANSIT OPTIONS THROUGH BUS AND LIGHT RAIL.

ADDITIONALLY, WE ARE PAYING ATTENTION TO MULTIMODAL TRANSPORTATION MECHANISMS THAT SOMETIMES SERVE AS DOG WHISTLES FOR NEIGHBORHOOD CHANGE.

THIS IS THE PART OF HOW WE APPROACH THIS WORK AND COMMUNICATE WITH SOME OF OUR MOST VULNERABLE AUSTINITES NEXT SLIDE PLEASE.

SO WHAT YOU ARE LOOKING AT IS THE WORK THAT THE HOUSING AND PLANNING DEPARTMENT HOLDS ON THE LEFT IS A MAP OF THE PLAN TRANSIT OPPORTUNITIES.

THIS CONSISTS OF BOTH LIGHT RAIL AND RAPID BUS TRANSIT IMPROVEMENTS.

THIS WORK IS GROUPED WITHIN THE TERM EQUITABLE TRANSIT ORIENTED DEVELOPMENT THAT CONSISTS OF ENGAGEMENT WITH THE COMMUNITY AND WORK AROUND HOW LAND USE IS USED, HOW ENVIRONMENTAL CONCERNS MAY SHOW UP AND CAN BE MITIGATED CURRENT AND FUTURE PLANNING AND ZONING CONSIDERATIONS, TAKINGS NEIGHBORHOOD, AND COMMUNITY CONTINUITY, AND ALL OF THE STEPS THAT WILL HELP DELIVER THE IMPROVED TRANSPORTATION OPTIONS.

AND THE NEXT FEW SLIDES, I WILL DIVE A LITTLE BIT DEEPER.

NOW ON THE RIGHT-HAND SIDE, YOU WILL SEE AN ANTI-DISPLACEMENT MAP THAT HAS AREAS THAT ARE BOTH WITHIN ONE MILE OF RAPID TRANSIT LINES AND LIGHT RAIL LINES AND STOPS AND PRONE TO GENTRIFICATION BASED ON RISK LEVEL, THE DIFFERENT COLOR, SEPARATE THE RISK LEVEL AND TAKES INTO CONSIDERATION THE RISK INDICATORS AS IDENTIFIED AND BE UPROOTED REPORT.

AND THE OUTLINE OF DISPLACEMENT VULNERABILITIES ALLUDED TO WHEN THE CONTRACT WITH THE VOTERS, AFTER ADDRESSING THE EQUITABLE TRANSIT ORIENTED DEVELOPMENT, I WILL DIVE DEEPER INTO THE ANTI-DISPLACEMENT STRATEGIES AND EFFORTS.

JUST TO NOTE, THE STAFF HAVE BEEN WORKING THROUGH THIS TWO-PART STRATEGY IN AN EFFORT TO PRESERVE OPTIONS AND UTILIZE SMART AND TARGETED INVESTMENTS.

AND THEY'RE ALSO ON THE CALL AND I HAVE TO GIVE THEM KUDOS.

SO WHAT YOU'RE LOOKING AT NOW ARE THEY EXPECTED TRANSIT INVESTMENT AREAS INCLUDED WHERE FUTURE TRANSIT EXTENSIONS MAY HAPPEN.

[00:55:01]

OUR WORK IS IN PARTNERSHIP WITH CAP METRO AND AUSTIN TRANSIT PARTNERSHIP.

ADDITIONALLY, UNDER COUNCIL DIRECTION, WE ARE DEVELOPING A SYSTEM-WIDE EQUITABLE TRANSIT ORIENTED DEVELOPMENT, AND I'LL FOR, FOR FUTURE PURPOSES, CALL IT ETO D UH, POLICY PLAN, WHICH WILL BUILD ON CAP METROS, ETO D WORK.

WHAT HELPS GET THIS WORD CONTEXT IS WHAT EQUITABLE IS IN TRANSIT ORIENTED DEVELOPMENT AND HOW THE INCLUSIVE PLANNING TEAM HAS ADDRESSED THIS WORK IS IN REGARDS TO HOW TRANSIT INCENTIVIZE AND CREATES DEMAND AND WHO THAT AFFECTS.

AND MORE IMPORTANTLY, HOW THEY ARE AFFECTED MUCH OF THIS WORK USES ENGAGEMENT AROUND PROCESSES TO IDENTIFY WHERE THE INVESTMENT IS GOING TO GO.

AS A COMMUNITY BECOMES MULTIMODAL AND PROVIDES A LEVEL OF FLEXIBILITY AND TRANSPORTATION OPTIONS.

THESE AREAS BECOME A LOT MORE POPULAR, NOT JUST TO RESIDE, BUT FOR BUSINESS.

ALSO, ONE OF THE PRIMARY CONSIDERATIONS WE HAVE IN THIS WORK IS NOT JUST THE TRANSIT STOPS, BUT CENTURY AND OUR WORK WITHIN A 20 MINUTE NEIGHBORHOOD MODEL, WHICH INDICATES THE INFLUENCE AND IMPACT OF TRANSIT INVESTMENTS AND THE DEMAND FOR WHICH GETTING THE, THAT INVESTMENT PLACE.

NEXT SLIDE, PLEASE.

AS I MENTIONED BEFORE, OUR ETO D WORK IS AIMED AT CREATING OR PRESERVING OPPORTUNITIES AND BENEFITS FOR ALL INCOMES AND BACKGROUNDS.

THIS DOES NOT ELIMINATE MARKET OPPORTUNITIES, BUT WORKS IN CONJUNCTION WITH MARKET BY UTILIZING OUR UNIQUE ABILITY TO RECONSIDER LAND, USE PLANNING AND COMMUNITY ENGAGEMENT OPPORTUNITIES TO EXTEND OPTIONS WHERE ABSENT OUR INVOLVEMENT MAY PROVE DIFFICULT.

NEXT SLIDE, PLEASE, FINALLY, TO UPDATE YOU ON WHERE WE CURRENTLY AT THIS FLOW CHART INDICATES WHAT WE ARE DOING RIGHT NOW.

WE KNOW THAT THIS IS AN INTENSE UNDERTAKING.

SO I ALSO WANT TO THANK OUR GOVERNANCE PARTNERS AT ADP AND CAP METRO FOR THEIR WORK AND ALIGNING MULTIPLE STAKEHOLDER GROUPS, FEDERAL STATE, AND CITY REVIEW PROCESSES AND COMMUNITY ENGAGEMENT ACTIVITIES TO HELP GUIDE THIS DELIVERABLE.

IF YOU HAVE FURTHER QUESTIONS, WE HAVE STAFF AVAILABLE AFTER THE ANSWER.

UM, BEFORE WE GO TO THE STAFF, UM, I LIKE TO TRANSITION TO OUR ANTI-DISPLACEMENT EFFORTS AND I DO WANT TO MENTION THAT WE ARE CURRENTLY REVIEWING AT 30%, OUR ORANGE LINE AND ALL THE EFFORTS AND ACTIVITIES THAT ARE GOING ON, UM, AND STAFF WILL BE ON TO KIND OF GIVE THAT A LITTLE BIT MORE CONTEXT.

UH, SHOULD YOU HAVE ANY QUESTIONS? NEXT SLIDE PLEASE.

AS I MENTIONED BEFORE, OUR DISPLACEMENT FOCUSES ON AREAS, BOTH PRONE TO GENTRIFICATION AND WITHIN ONE MILE OF PLAN MULTIMODAL TRANSIT EXPANSION THROUGH PROJECT CONNECT, THIS WORK DEVELOPED BY OUR ANTI-DISPLACEMENT TEAM HELPS GUIDE OUR NEIGHBORHOOD LEVEL STRATEGY.

AND WHEN I SAY NEIGHBORHOOD LEVEL STRATEGY, I'M INDICATING THAT WE ARE TAKING INTO CONSIDERATION WHAT YOU SEE ON YOUR SCREEN, A MULTITUDE OF DISPLACEMENT RISK, AND USING THAT TO GUIDE THE TYPES OF INVESTMENTS THAT HAVE BEEN CONSIDERED BEST PRACTICE FOR THESE TYPES OF COMMUNITIES, ALL WITHIN A TEXAS CONTEXT, BECAUSE ALL STRATEGIES DON'T WORK FOR ALL COMMUNITIES AND INFORMING THE COMMUNITY OR WHAT WE ARE SEEING AND WHAT WE ARE DOING.

AND WHAT WE ARE INVESTING IS A WAY FOR US TO BUILD TOGETHER.

YET.

I WANT TO BE CLEAR, THIS IS NOT PREDICTIVE.

WE USE DATA TO HELP GUIDE WHERE WE GO AND THIS MAPPING IS MEANT TO BE UPDATED ON A YEARLY BASIS.

SO EXPECT THESE NUMBERS TO CHANGE, ESPECIALLY AS MARKET RATE INVESTMENTS, CONTINUE ON THE TREND THAT THEY HAVE BEEN IN RECENT YEARS.

WE ALSO KNOW THAT AS DEMAND INCREASES FOR MULTITUDE OF FACTORS, INCLUDING ECONOMIC GROWTH, MARKET SPECULATION, AVAILABILITY OF LAND LENDING, INTEREST RATES, AND ALL THE CONSIDERATIONS THAT GO INTO DEVELOPMENT, OUR PROJECTION OF EXPENSES WILL GO UP.

AS IN MANY SITUATIONS, WE ARE IN COMPETITION AND IN ACQUIRING OPPORTUNITIES, OR AS WE TRIED TO PRESERVE THEM, WHAT THIS ALSO POINTS OUT IS THAT AS WE FRAME OPPORTUNITIES IN AREAS PRONE TO DISPLACEMENT, WE ARE WORKING TO REMAIN AS NIMBLE AND FLEXIBLE AS POSSIBLE TO TAKE ADVANTAGE OF THE DEVELOPMENT DEALS, ESPECIALLY IN, AS ESPECIALLY THE PURCHASING POWER OF INVESTMENT DOLLARS ARE STRETCHED THINNER OVER THE COMING YEARS.

WHERE OPPORTUNITIES HAVE HAD A LEGACY OF BEING AN EQUITABLE AND WORKING TO HELP CHART A NEW PATH.

ADDITIONALLY, OUR DISPLACEMENT FRAMEWORK WAS GUIDED BY OUR COMMUNITY.

CATALYSTS.

THIS FRAMEWORK HELPS PROVIDE THE TOOLBOX OF TOOLS WE USE TO INFORM DEVELOPMENT OF THE BUDGET PRIORITIES AND IN CONSIDERATION AND IN CONCERT WITH OUR DATA AND COUNCIL PRIORITIES, NOT ONLY DOES IT HELP INFORM OUR PRIORITIES AND HELPS GUIDE THE DEVELOPMENT OF PROCESSES THAT WILL IMPROVE OUR OUTCOMES, HELPING BRIDGE THE PROCESS AND THE PRODUCT I DO WANT TO THANK OUR CATALYST AND THE EQUITY OFFICE FOR THE INTENSE AND DIFFICULT WORK IT IS TO TAKE INTO CONSIDERATION

[01:00:01]

SHOULD COUNCIL MEMBERS WANT A COPY OF THIS PLACEMENT TOOL? WE WILL HAPPILY PROVIDE THE DOCUMENT TO YOU.

UM, IN AN EMAIL WAS SENT ABOUT, UH, THREE WEEKS AGO, UH, CONTAINING THIS INFORMATION.

NEXT SLIDE, PLEASE.

ALL OF OUR 300 MILLION FOR ANTI-DISPLACEMENT ACTIVITIES HERE IS HOW THE BUDGET FOR YEARS ONE AND TWO ARE OUTLINED.

AS YOU CAN SEE, A MAJORITY OF OUR MONEY IS GOING TO BE DIRECTED TO INVESTMENTS AROUND LAND AND DEVELOPMENT.

BASED OFF THE CONCEPT THAT THE LAND AND DEVELOPMENT PRICES WILL ONLY CONTINUE TO ESCALATE.

WE ADDITIONALLY HAVE SET ASIDE A PORTION FOR COMMUNITY DEVELOPMENT OPPORTUNITIES TO HELP STABILIZE FAMILIES AS THEY FILL THE DISPLACEMENT PRESSURE BECAUSE THE DEVELOPMENT CYCLE CONGENITALLY STRETCH FOR YEARS FROM A WAR TO END PRODUCT, WE PLAN ON CONTINUING TO FOCUS ON STABILIZATION EFFORTS WHILE THE SUPPLY OF HOUSING INCREASE.

THIS NEXT SLIDE, PLEASE.

NOW THE PREVIOUS SLIDE SHOWED FUNDING FOR YEARS ONE AND TWO.

SO WHAT ABOUT THE OTHER YEARS OF FUNDING? WELL, RIGHT NOW WE ARE ALIGNING THE FUTURE YEARS OF RESOURCES AND WORKING TO PRESENT TO THE COMMUNITY ADVISORY COMMITTEE, A STRATEGIC OUTLINE OF HOW TO ENGAGE AND DEVELOP FUNDING DECISIONS THAT ALIGN WITH COMMUNITY INPUT, DATA ANALYSIS, COUNCIL AND MAYORAL CONCERNS AND DIRECTIONS, AND TAKE INTO CONSIDERATION OUR KEY PERFORMANCE INDICATORS, MARKET CONDITIONS, AND BEST PRACTICES.

THIS OUTLINE HAS BEEN PRESENTED TO THE CAC HOUSING FINANCE SUBCOMMITTEE AND IS BEING TAKEN THIS MONTH TO THE BROADER CAC FOR THEIR THOUGHTS ACTUALLY IS BEING TAKEN, UM, IN, UH, MARCH, UH, HAPPY TO REPORT BACK ON THIS FORWARD LOOKING STRATEGY UPON THE CAC RESPONSE.

UH, THE INTENT OF THESE EFFORTS IS SO WE ARE IN LOCKSTEP THAT WE CAN BE TRANSPARENT AND OFFER OPPORTUNITIES FOR INPUT AS WE MOVE FORWARD.

SO WHAT DOES THE FUTURE LOOK LIKE FOR THIS WORK? WE WILL CONTINUE OUR OUTREACH, MANY AUSTINITES ARE CONCERNED.

SO WE ARE CONTINUING WITH WHAT OUR CURRENT ENGAGEMENT STRATEGIES AND IMPROVING INFORMATION AND ACCESS FOR BOTH OUR ETL WORK AND OUR ANTI-DISPLACEMENT WORK.

WE ARE SIMULTANEOUSLY LEADING OUR WORK BASED ON A FEEDBACK FROM COUNCIL RESIDENTS AND GOVERNANCE PARTNERS AND INDUSTRY PROFESSIONALS.

WE WILL CONTINUE TO PROVIDE PROACTIVE FORWARD-LOOKING UPDATES TO ALIGN OUR PRODUCTION, PRODUCTION, AND PRESERVATION OF HOUSING OPTIONS AND WHERE ROADBLOCKS MAY OCCUR THAT LIMIT OUR OPTIONS.

AND FINALLY, WE WILL CONTINUE TO WORK THROUGH PROVIDING FISCAL UPDATES AND EXPENDITURES IN AN EFFORT TO IMPROVE TRANSPARENCY AND BUILD COMMUNITY CONFIDENCE AND TRUST.

I KNOW THIS WAS A BIT LONG-WINDED, BUT I WANTED TO BE SURE I PROVIDED AS MUCH OF AN UPDATE AS POSSIBLE FOR WHAT PROVES TO BE BOTH EXCITING AND CHALLENGING OPPORTUNITIES FOR THE CITY OF AUSTIN.

I WANT TO BE SURE TO MENTION, WE ONLY SPOKE OF TWO PROCESSES.

THERE ARE MANY OTHER PROCESSES THAT ARE IN CONCERT WITH THIS EFFORT AND MANY MORE THAT ARE NEEDED, INCLUDING DIRECT FINANCIAL RESOURCES THAT CAN UNDERWRITE NEIGHBORHOOD OPPORTUNITIES FOR HOUSING AND DESERVE DESIRABLE AND AMENITY RICH AREAS.

I CAN'T END WITHOUT THANKING THE STAFF WHO DO THIS WORK EVERY DAY.

THEY DON'T REALLY GET MUCH LIGHT, BUT THEY GRAPPLE AND WORK WITH THANKLESS PROCESSES.

SO I WANT TO BE SURE TO TAKE ONE MOMENT TO THANK THEM, UH, HAPPY TO HAVE THE STAFF JOIN AND, UH, ANY QUESTIONS THAT YOU ALL MIGHT HAVE FOR MYSELF, MANDY, ROSIE, UH, AND HPD TEAM.

TOMORROW MORNING, I DON'T SEE HER JOINING ON THIS CALL.

UH, YES.

THANK YOU VERY MUCH.

THIS IS JUST VERY EXCITING.

THE WORK THAT YOU ALL HAVE BEEN DOING, AND I REALLY APPRECIATE THE, UM, THE WAY THAT YOU ALL ARE EVOLVING THE, THE PROGRAM FOR THE USE OF THE ANTI-DISPLACEMENT DOLLARS UNDER PROJECT CONNECT.

SO I WANTED TO SAY KUDOS TO, TO YOU, UM, AND YOUR ENTIRE TEAM, THE ENTIRE TEAM THERE FOR THAT.

SO I APPRECIATE THAT.

SO, UM, I DO HAVE A QUESTION NOT SPECIFIC TO THE ANTI-DISPLACEMENT, BUT TO THE ETOD.

UM, I'M WONDERING IF YOU HAVE AT THE MOMENT, A TIMELINE THAT'S A LITTLE MORE DETAILED ON THE ETOD, UM, STUDY.

UM, YOU TAUGHT STUDY PROCESS.

WHEN WILL THAT, WHEN DO YOU EXPECT TO GET THE INITIAL RECOMMENDATIONS BACK TO COUNCIL? I, THE W WE PASSED IT LAST YEAR AND THERE WAS AN INTERIM PRELIMINARY RECOMMENDATIONS THAT WERE DUE TO US, AND I DON'T REMEMBER THE TIMEFRAME.

AND THEN THERE WAS A FINAL REPORT.

SO D IF YOU CAN GIVE THAT TO ME OFFLINE, IF YOU'RE NOT SURE RIGHT NOW, BUT DO YOU KNOW? UM, AND I, I'M HOPING THAT WE HAVE STEVIE, UH, GREAT HOUSE JOINED.

SHE MAY BE ABLE TO ANSWER THAT IF NOT, WE WILL HAPPILY GET YOU AN ANSWER.

UM, EITHER TODAY OR

[01:05:01]

SO WHAT I'M LOOKING FOR IS, YOU KNOW, THAT RESOLUTION HAD TWO PARTS, UH, A PRELIMINARY, WHICH I THINK WAS SIX MONTHS, BUT THAT MAY HAVE BEEN WRONG.

UH, AND THEN, UH, THAT WAS A COUNCIL MEMBER, HARPER MADISON'S RESOLUTION.

SO SHE MAY NOT REMEMBER, BUT IN ANY CASE YEAH, IF YOU COULD JUST, UM, LET US KNOW THE TIMELINE ON THAT, THAT'D BE GREAT.

UM, AND THEN WE'LL SEND TO YOU.

AND THEN THE SECOND QUESTION IS JUST, UM, JUST TO NOTE, UM, I APPRECIATE IT FOR MY COLLEAGUES AND FOR YOU ALL.

I APPRECIATE Y'ALL WORKING WITH US.

UM, THE RESOLUTION THAT'S ON OUR NEXT COUNCIL AGENDA, UH, WITH REGARD TO THE USE OF THE ANTI-DISPLACEMENT DOLLARS THIS YEAR IS TOTALLY ALIGNED WITH WHAT YOU ALL LAID OUT, AND WE APPRECIATE, UH, WORKING WITH Y'ALL ON IT.

AND ALSO THERE'S LANGUAGE IN THERE THAT CAPTURES WHAT Y'ALL ARE PLANNING ON DOING IN THE FUTURE, AS YOU JUST MENTIONED, IN TERMS OF REALLY, UM, UH, ANALYZING DIFFERENT, UH, GEOGRAPHIC AREAS AND, AND, UH, NEIGHBORHOOD LEVEL STRATEGIES.

SO APPRECIATE THAT.

AND COUNCIL MEMBER, STEVIE GREAT HOUSE HAS JOINED.

I DON'T KNOW, STEVIE, IF YOU HEARD THE QUESTION, I DID HEAR THE QUESTION.

I WAS, YOU KNOW, SITTING IN THE PANEL OR THE ATTENDING ROOM WAITING TO ANSWER.

SO I'M HAPPY TO PROVIDE A BRIEF ANSWER.

AND THEN I THINK WE WILL BE FOLLOWING BACK UP WITH YOU GUYS WITH SOME MORE DETAILS IN WRITING AS WELL.

STEVIE GREATHOUSE DIVISION MANAGER, HOUSING AND PLANNING DEPARTMENT FOR THIS AFTERNOON.

UM, THE QUESTION WAS SORT OF ON TIMELINE AND RESPONDING BACK TO THE RESOLUTION THAT COUNCIL, UM, DID APPROVED DIRECTING US TO BRING BACK AN 800 POLICY PLAN.

UM, WE ARE CURRENTLY WORKING FULLY IN PARTNERSHIP WITH THE CAPITAL METRO TEAM ON THE EACH POD STUDY WORK THAT WILL BE FOCUSED ALONG, UM, THE ORANGE AND THE BLUE LINES ON THAT CUPID LAID OUT IN HIS PRESENTATION AND OPENING ARCS.

THEY ANTICIPATE WRAPPING UP, UM, THAT STUDY THAT WE'RE WORKING WITH PARK IN PARTNERSHIP WITH THEM ON, UM, IN AROUND, UM, AUGUST OF THIS YEAR, WE WOULD THEN MOVE FORWARD TO DO ADDITIONAL WORK, UM, TO BE, UH, TO BRING TO COUNCIL.

THE DELIVERABLES THAT WERE ASKED FOR BY THE YOUTH HAD POLICY PLAN.

OUR CURRENT GOAL IS TO BRING THAT WORK BACK TO COUNCIL BY THE END OF THE CALENDAR YEAR.

AND I ARE THINKING ABOUT AN INTERIM, ANY, ANY KIND OF PRELIMINARY TO, TO HELP US SEE WHAT WHAT'S COMING TOGETHER.

THERE WILL DEFINITELY BE, UM, DELIVERABLES THAT WILL BE PRODUCED AS PART OF THE PARTNERSHIP WORK WITH CAPITAL METRO AROUND THE UTAH, UM, STUDY THAT WOULD BE, YOU KNOW, AVAILABLE OUT FOR PUBLIC REVIEW.

UM, IN TERMS OF BRINGING THINGS FORWARD FOR ACTUAL COUNCIL ACTION, WE PROBABLY WOULD NOT BE BRINGING ANY, I MEAN, FOR COUNCIL, I WASN'T, I DIDN'T MEAN FOR COUNCIL ACTION.

I WAS THINKING MORE FOR AN UPDATE.

PERFECT.

UPDATES WILL DEFINITELY BE HAPPENING PRIOR TO THE END OF THE YEAR.

SO WE WILL WANT TO BE PROVIDING, UM, KIND OF A DETAILED MEMO LETTING YOU ALL, UM, AND THE FULL COUNCIL KNOW WHERE WE'RE AT, UM, ON THE TIMELINES THAT WERE PRESCRIBED UNDER THE RESOLUTION, UM, WHAT WE'VE ACHIEVED SO FAR IN THE PARTNERSHIP WITH CAPITAL METRO ON THE ETOD STUDY.

AND THEN WE EXPECT THAT ADDITIONAL DELIVERABLES, UM, FROM THAT WORK WILL START TO BE, UM, PRESENTED TO COUNCIL AND COMMITTEES AND PUBLIC SETTING, UM, AS WE HEAD INTO THE SPRING AND SUMMER SO THAT YOU WILL DEFINITELY RECEIVE INFORMATION PRIOR TO THE END OF THE YEAR.

TO ADD IN REGARDS TO THAT.

THAT SOUNDS GREAT.

WE CAN TALK ABOUT IT OFFLINE.

I'D LOVE US TO HAVE A WORK SESSION BRIEFING AROUND AUGUST, OR MAYBE EVEN JULY AS, AS CAP METRO IS FINALIZING THEIR WORK, BUT WE CAN TALK ABOUT THAT OFFLINE.

SO THANK YOU.

THANK YOU CHAIR.

I'M NOT SURE WHO THIS QUESTION MIGHT BE FOR, BUT WHERE DO YOU SEE EITHER SIMILARITIES OR DIFFERENCES BETWEEN THE ETO D PLANNING AND THE ANTI-DISPLACEMENT FUNDING WOULD I'M IMAGINING WITH ANTI-DISPLACEMENT? I THINK I REMEMBER SEEING A MAP WHERE THERE'S A CERTAIN DISTANCE FROM THE RAIL LINES THAT ARE BEING LOOKED AT, BUT ALSO WITH ETO.

D I ALWAYS THINK OF THAT AS BEING A LITTLE MORE HYPER CENTRALIZED TO CERTAIN STATIONS, OR ARE THEY, ARE THOSE TWO PROCESSES TALKING TO EACH OTHER AND FIGURING OUT HOW TO MAKE THE BEST OF ANY OF THE FUNDS? YES.

AND THAT'S THE UNIQUENESS OF THE HPD DEPARTMENT IS THAT WE HAVE THESE INTERNAL CONVERSATIONS ON THE ABILITY TO UNLOCK THROUGH ETO, THE POSSIBILITY OF INVESTMENTS AND WHERE THOSE INVESTMENTS COULD BE IN RELATIONS TO, UH, ANTI-DISPLACEMENT EFFORTS.

SO AS YOU SAW ON THE MAP, UM, WE WOULD BE ABLE TO EASILY, AND I, I BELIEVE OUR ANTI-DISPLACEMENT TEAM IS, UH, LOOKING AT A WAY TO OVERLAP WHERE THE ETL D WORK IS GOING TO BE HAPPENING AND WHERE THAT IS IN RELATIONS TO THE RISK AS A DISPLACEMENT EFFORT TO KIND OF COORDINATE AND ANALYZE THE OPTIONS AND THE OPPORTUNITIES FOR INVESTMENT.

SO WE, WE ARE HAVING THAT CONVERSATION AND WE CONTINUOUSLY HAVE THAT CONVERSATION.

I DON'T KNOW IF THERE WAS ANYTHING THAT ROSIE OR STEVIE WANTED

[01:10:01]

NO, I THINK YOU CAPTURED THAT WELL, IT'S THERE, THERE'S A LOT OF INTERNAL COLLABORATION AND IT'S SOMETHING THAT WE'RE QUITE PROUD OF.

I'M GLAD TO HEAR THAT.

AND I JUST WANTED TO CALL OUT THAT WE DO HAVE KNEPPER TD JACQUELINE ON THE LINE ALSO, WHO IS LEADING OUR ANTI-DISPLACEMENT TEAM, REMEMBER VILLA AND UNCOMPLIMENTARY KITCHEN, THE EARLY MONEY FOR THE ETO.

D IS THAT BEING USED FOR LAND ACQUISITION OR NOT FOR THE ETO D I SHOULD SAY, BUT FOR THE $300 MILLION, UH, THAT, THAT WAS PASSED, THAT'S PART OF THE PROJECT CONNECT FUNDING.

UH, WHERE ARE WE ON THAT? YEAH.

AND I CAN HAND THAT OVER TO ROSIE AND MANDY TO KIND OF ADDRESS THAT.

ANDY, WHY DON'T YOU TALK ABOUT, YEAH, HAPPY TO TAKE THAT ON.

UM, SO THE FIRST TRAUNCH OF FUNDS, UH, WAS APPROVED BY CITY COUNCIL ACTUALLY LAST YEAR, THAT'S 23 MILLION FOR, UH, LAND ACQUISITION AND PRESERVATION.

WE CREATED A PROGRAM THAT WAS OFFICIALLY LAUNCHED.

IT IS CALLED AD CAP ANTI-DISPLACEMENT ANTI-DISPLACEMENT COMMUNITY ACQUISITION PROGRAM.

WE HAVE, UM, ALLOCATED $8 MILLION FOR LOCAL COMMUNITY DEVELOPMENT CORPORATIONS TO TAP INTO, UH, TO PRESERVE, UH, AND OR ACQUIRE LAND FOR A SMALL SCALE AFFORDABLE HOUSING DEVELOPMENT.

YOU WILL SEE THE VERY FIRST AD CAP, UH, AWARD COMING TO THE H S C BOARD ON MARCH 24TH.

UH, WE'RE VERY EXCITED ABOUT THAT.

UH, IN ADDITION, UH, AS CUPID HAD BRING IT UP WHEN HE TALKED ABOUT THE OVERALL BUDGET, WHERE THAT INITIAL $65 MILLION, WE ARE ALIGNING, UM, THE 300 MILLION, WELL, THE ANTI-DISPLACEMENT FUNDING 21 MILLION OF IT THIS FISCAL YEAR WITH OUR RHODA AND ODA PROGRAMS. SO THE MAY ORDERLY APPLICATION PROCESS WILL INCLUDE AVAILABILITY, UH, UH, SOME OF THE ANTI-DISPLACEMENT FUNDING FOR OUR NONPROFIT AND FOR-PROFIT DEVELOPERS WHO NEED, UM, UH, GAP FINANCING FOR AFFORDABLE HOUSING DEVELOPMENT, WHO MEET CERTAIN CRITERIA.

CERTAINLY ONE OF THE CRITERIA, IF THEY ARE IN THE GEOGRAPHY THAT CUPID LAID OUT BEAUTIFULLY WITH THE MAP, SHOWING THE BUFFERS AROUND THE STATIONS WITHIN ONE MILE OF PROJECT CONNECT IN AREAS THAT ARE EXPERIENCING DISPLACEMENT.

SO WE'RE REALLY LEVERAGING OUR ANTI-DISPLACEMENT DOLLARS WITH SOME OF OUR EXISTING PROGRAMS TO MAKE SURE WE'RE CHANNELING THOSE INVESTMENTS INTO AREAS THAT ARE AT RISK OF DISPLACEMENT AND HAPPENING, IDENTIFY THROUGH ALL OF THE WORK THAT CUPID HAD MENTIONED.

UM, AND ON THAT SAME NOTE, AGAIN, I'M, I'M, I'M, I'M LEARNING, BUT TRYING TO THINK CONCEPTUALLY ABOUT THIS, UH, I WOULD IMAGINE WE WOULD WANT TO FRONT-LOAD OUR LAND ACQUISITION, UH, JUST BECAUSE, YOU KNOW, THE LAND IS CHEAPER TODAY THAN IT'S GOING TO BE IN 2030 OR WHEREVER.

I MEAN, PRESUMABLY, UH, IS, IS THAT, IS THAT WHERE WE ARE IN TERMS OF THE PROGRAM? AGAIN, I ASKED THAT BECAUSE I SAW THAT KIND OF LIKE, YOU KNOW, PARCELING OUT IN LITTLE CHUNKS OVER THE NEXT 15 YEARS, WHICH I COMPLETELY UNDERSTAND, BUT AGAIN, GIVEN THE REAL ESTATE PRICES THAT WE'VE SEEN, I GUESS I WOULD HOPE THAT MORE OF THE LAND ACQUISITION WITH FRONT-LOADED YES.

AND THAT'S SOMETHING THAT WE'RE TAKING INTO CONSIDERATION AND ACTUALLY, UH, ACTIVELY IMPLEMENTING, IF YOU'LL SEE TWO THIRDS OF THE FINANCIAL RESOURCES THAT WE HAVE NOW ARE FOR ACQUISITION AND DEVELOPMENT.

UM, A PART OF IT WAS FOR NEIGHBORHOOD STABILIZATION BECAUSE FAMILIES ARE FEELING THE BRUNT OF THE, UM, INCREASES NOW.

UM, AND AS WE LOOK TO THE FUTURE, WE, UM, I DON'T WANT TO GET TOO PRESUMPTIVE, BUT I BELIEVE WE'RE GOING TO AIM TOWARDS MAKING SURE THAT WE'RE ACQUIRING AND DEVELOPING, BECAUSE FRANKLY OVER THE COURSE OF TIME, IT'S GOING TO BE MORE EXPENSIVE, AS I MENTIONED.

AND BY THE TIME OUR RESOURCES ARE DONE, UM, OVER THE NEXT 13 YEARS, WE WOULD HAVE ALREADY GONE THROUGH ANOTHER CENSUS COUNT.

SO WE RECOGNIZE THAT, UH, IN ALL ACTUALITY, THE COST OF BUILDING AND ACQUIRING A PROPERTIES ARE PROBABLY THE LEAST EXPENSIVE NOW THAN THEY WILL EVER BE FROM THIS POINT, MOVING FORWARD, LOOKING AT THE PROJECTION OF WHERE AUSTIN, UM, AS A, AS A, UH, AS A RESULT OF AUSTIN SUCCESS.

AND THEN A FINAL A QUESTION THOUGH, ALL THAT THE MONEY FOR A LAND ACQUISITION IS GOING TO BE SPENT ON PROPERTIES THAT ARE WITHIN ONE MILE OF A, OF A PROJECT CONNECT LINE.

IS THAT, DID I UNDERSTAND THAT CORRECTLY? YES.

SO ONE MILE OF A PROJECT CONNECT LINE IN

[01:15:01]

I WOULD LIKE THAT, THAT BOOK, I DON'T, I MAY NOT HAVE BEEN ON THE COUNCIL WHEN THAT EMAIL WENT OUT, UH, AND WE'LL GET IT.

WE'LL MAKE SURE WE WILL MAKE SURE YOU GET IT.

AND, UM, THERE ARE A COUPLE INTERACTIVE MAPS THAT, UH, NEFFER TDS TEAM HAS DEVELOPED OUT TO HELP GIVE CONTEXT TO THIS WORK.

IT ALIGNS WITH, UH, I'VE HAD THE PRIVILEGE OF MEETING WITH COUNCIL MEMBER KITCHEN SEVERAL TIMES, AND IT ALIGNS WITH OUR NEIGHBORHOOD LEVEL STRATEGY AND IT IDENTIFIES, OOH, WE'RE SERVING WOW.

WHAT THE EDUCATION LEVELS ARE, ALL OF THE DIFFERENT THINGS THAT YOU WOULD CONSIDER IN DETERMINING WHAT COULD BE OFFERED IN THOSE SPACES.

WE HAVE IT BOTH, UH, IN, UH, A PRINTED VERSION.

UM, AND WE HAVE IT AS AN ONLINE TOOL BECAUSE WE BELIEVE THAT DIGITAL DIVIDE IS REAL.

SO WE WANT TO BE SURE THAT NOT ONLY AS WE'RE DOING THIS WORK, ARE WE PROVIDING INFORMATION, BUT HOW WE'RE PROVIDING INFORMATION AND WHO WE'RE PROVIDING IT TO IS A WAY FOR US TO BUILD SOMETHING THAT I THINK WE'RE ALL TRYING TO BUILD, WHICH IS COMMUNITY TRUST, THAT WE ARE INVESTING THEIR RESOURCES IN A TARGETED AND SMART WAY, AND WE'RE WILLING TO SHARE THE INFORMATION AND THE PROCESSES SYSTEM.

GREAT.

WELL, EMAIL'S FINE FOR ME.

UH, YES, JUST A FEW QUICK FOLLOW-UPS SO, UH, COUNCIL MEMBER AVAILA, THE ONE THING THAT'LL BE INTERESTING GOING FORWARD, AND I KNOW THIS IS SOMETHING THAT, UH, WOULD BE USEFUL TO OUR CITY STAFF ALSO IS, YOU KNOW, THE, THE AMOUNT OF DOLLARS THAT COMES TO US EVERY YEAR IS, IS, UH, CONTROLLED BY THE AGREEMENT BETWEEN THE ATP AND THE CITY.

AND SO THE ATP HAS, UH, UPLOADED THE FIRST TRONCH, BUT THE REST OF THOSE TRAUNCHES, IF YOU LOOK BACK AT THE TIMELINE, IT'S THE SAME AMOUNT EVERY YEAR.

SO WE'VE HAD SOME CONVERSATION IN THE PAST AND WE REALLY NEED TO HAVE MORE CONVERSATION WITH ATP ABOUT FRONT-LOADING THOSE DOLLARS MORE PARTICULARLY WHEN YOU LOOK AT THE LAST TRAUNCH OF YEARS WHERE YOU'VE GOT, YOU KNOW, X MILLION DOLLARS IN YEAR 13 OR WHATEVER IT IS, I MEAN, THAT'S REALLY TOO LATE.

SO, UM, SO WE'VE HAD THOSE CONVERSATIONS, BUT, AND IT'S GOING TO BE TIMELY AT SOME POINT TO HAVE FURTHER CONVERSATIONS WITH ADP.

UM, AND I'LL BE HAPPY TO SHARE THAT INFORMATION WITH YOU.

WE BUILT INTO THE JPA, THE JOINT POWERS AGREEMENT, SOME LANGUAGE AROUND REVIEWING THAT ALLOCATION BETWEEN ATP AND THE CITY ON A REGULAR BASIS.

SO, UM, I'LL BE HAPPY TO SHARE THAT WITH EVERYONE AND REMIND EVERYBODY WHERE THAT IS, BECAUSE, UM, TO THE EXTENT THAT ATP CAN INSTILL, YOU KNOW, AND, AND, YOU KNOW, AND STILL MAKE PROJECT CONNECT WORK, WE REALLY NEED TO UPFRONT THE ANTI-DISPLACEMENT DOLLAR.

SO, SO I JUST WANTED TO MENTION THAT.

AND THEN THE SECOND THING IS JUST A QUICK QUESTION.

UH, CAUSE I KNOW WE'RE PROBABLY RUNNING OUT OF TIME, BUT, UH, AT THE, UH, WHEN Y'ALL ARE READY, I'D BE INTERESTED IN UNDERSTANDING HOW, HOW YOU'RE MOVING TOWARD, UM, MEASURING SUCCESS OF ANTI-DISPLACEMENT.

IN OTHER WORDS, WHAT ARE THE KPIS? UM, THE PA THE, THE, UM, CONTRACT WITH THE VOTERS CONTEMPLATED DEVELOPING SOME KIND OF DASHBOARD THAT MEASURED SUCCESS ON ANTI-DISPLACEMENT.

AND I KNOW THAT Y'ALL PROBABLY HAVEN'T GOTTEN TO THAT YET, BUT, UM, AT THE RIGHT TIME, I'D LOVE TO UNDERSTAND HOW YOU'RE WORKING TOWARDS THAT, SO THAT WE KNOW THAT WE'RE USING THESE DOLLARS AS EFFECTIVELY AS WE CAN.

I MEAN, IT'S A REALLY A TOUGH ISSUE THAT TAKEN ON HERE, BUT DO YOU HAVE, YEAH, ABSOLUTELY.

COUNCIL MEMBER.

I DON'T KNOW, I'LL OFFER NEVER KATIE JACKMAN, THE OPPORTUNITY TO SPEAK ON THAT.

IF SHE WOULD LIKE, UM, WE HAVE STARTED SOME OF THAT WORK AND HAPPY TO GIVE YOU A LITTLE BIT OF A HIGHLIGHT OF IT, BUT I I'LL, I'LL GIVE THAT OPPORTUNITY TO NEVER TT.

AND, UM, I'M ALSO REALLY WANT TO KNOW WHERE WE ARE GOING, UH, ARE CAPTURING ABOUT 5% BACK ON THE METRO AND, AND THE HOUSING IN THE CORRECT.

I THINK WE, WE WENT UP TO 3% OR MAYBE A THREE AND A HALF PERCENT.

UH, I N YOU KNOW, ANOTHER IN THE FUTURE, WE'RE GOING TO GROW OUR, OUR TAX BASE.

AND THAT'S WHAT I REALLY WANT TO SEE IS, IS AS WE GROW OUR TAX BASE, CAN WE DOWN AND GIVE SOME OF THAT MONEY UP FRONT AND THEN YEAH.

AND NOT WAIT UNTIL THE END.

SO, YEAH, I REALLY LIKED TO, I GUESS WE'LL, WE'LL FIND THAT OUT WHEN WE HAVE OUR JOINT MEETING, BUT I REALLY WANT US TO FOCUS ON, ON THAT DISCUSSION ALSO.

THANK YOU, STAFF.

I, I THINK IT WAS AN EXCELLENT PRESENTATION AND I REALLY WANT TO THANK Y'ALL.

IS THERE ANY OTHER QUESTIONS AS WE MOVE ON? OKAY.

I THINK WE HAD ONE RESPONSE FROM NEFERTITI JACKMAN TO COUNCIL MEMBER KITCHENS.

A HIGH-LEVEL QUESTION IF THAT'S

[01:20:01]

AND I WAS OKAY IF WE DID THE, THAT, BECAUSE WE ARE STILL IN THE PROCESS OF DEVELOPING OUR KPIS.

WE HAVE BEEN, UM, STAFF HAS BEEN WORKING BOTH WITH THE INNOVATION OFFICE AND HPD STAFF TO, UH, GET FURTHER CLARIFICATIONS, UH, FURTHER CLARIFICATION SO THAT WE CAN MAKE SURE THAT WE ARE, UM, MEASURING BOTH, UH, AND REPORTING OUT UNITS, UH, AND PEOPLE, AND, UH, ALSO DECIDING WHAT TYPE OF DASHBOARD, UH, OR METRIC OR WHERE WE WILL PRESENT THIS INFORMATION.

WHAT IS THE PLATFORM THAT WILL, UH, BE REFLECTIVE OF THE WORK AND THE INVESTMENTS THAT ARE BEING MADE? UH, CERTAINLY THE MAPS THAT WERE DEVELOPED BY THE TEAM ARE REALLY GOING TO BE INFORMATIVE.

UM, AS WE, YOU KNOW, COLLECT THE DATA THAT IS COMING IN AS A RESULT OF A CONTRACT AND THE INVESTMENTS THAT WILL COME IN.

SO WE'RE STILL FINE TUNING THOSE DETAILS AT THIS TIME.

I THINK NEFERTITI IS BEING, BEING KIND, WHAT WE'RE, WHAT WE'RE TRYING TO DO IS ANALYZE THE RESOLUTION.

UM, SOME OF IT ARE, UM, EH, LANGUAGE AROUND PREDICTIVE MODELING, WHICH, UM, WAS MORE OF A MARKET BASED KIND OF ANALYSIS.

WHAT WE CURRENTLY HAVE UP OF FULFILLS PART OF THE KPI, THE KEY PERFORMANCE INDICATORS, UM, REQUIREMENTS IN THE RESOLUTION, UH, WHAT WE'RE CONTINUING TO DEVELOP OUT IS PER LINE AND THE RESOLUTION, HOW YOU DELIVER WHAT THAT'S BEING ASKED TO DELIVER.

UM, AND IT, IT, IT, IF I'M BEING HONEST, IT LOOKS LIKE A REFLECTIVE PRACTICE ON HOW WE'VE INVESTED AND WHERE WE'VE INVESTED AND WHAT THAT IMPACT HAS BEEN.

BUT I THINK WHAT WE'RE REALLY TRYING TO DO IS MAKE SURE THAT WE'RE MEASURING THE IMPACT, UM, AND UTILIZING THE RESOURCES AND CAN SHOW THAT WE, UH, INDICATED, UH, THAT WE WERE USING THE SMARTEST THINGS THAT WE HAD.

UM, ROSIE, I DON'T KNOW IF THERE WAS SOMETHING YOU WANTED TO ADD.

I SEE.

I WAS JUST GOING TO INTRODUCE THE NEXT ITEM.

OUR LAST AND FINAL DISCUSSION ITEM.

AND IT WAS REALLY GREAT TO HEAR FROM YOU, JACKIE AHEAD.

I HEAR YOU AND, UH, AND KEEP IT UP WHEN WE'RE GOING TO NEED ALL THE HELP THAT WE CAN GET.

ALL RIGHT, COUNCIL MEMBER, WE'RE GOING TO MOVE ON TO

[4. Staff briefing on Austin Housing Finance Corporation (AHFC) initiatives including tax increment reinvestment zones in a homestead preservation district, hotel conversions, potential creation of a public facility corporation, and other AHFC investments related to affordable housing developments.]

BRIEFING ITEM IS THE STAFFING STAFF IS GOING TO BRIEF US ON AUSTIN HOUSING, FINANCE CORPORATION, THE INITIATIVE, INCLUDING TAX INCREMENT REINVESTMENT ZONE IN A HOMESTEAD PRESERVATION DISTRICT, THE HOTEL CONVERSION POTENTIAL CREATION OF A PUBLIC FACILITY CORPORATION, AND OTHER A S H E H F C INVEST BY RELATED TO AFFORDABLE HOUSING.

SO I'M GOING TO ASK OUR NEWLY APPOINTED DEPUTY DIRECTOR, MANDY DEMAYO, UH, TO PLEASE, UH, LEAD THIS PRESENTATION AND MANDY YOUR, WE CAN'T HEAR YOU.

HOPEFULLY YOU CAN HEAR ME NOW.

NOW WE CAN MANDY DEMAND HOUSING AND PLANNING DEPARTMENT, HAPPY TO LEAVE THIS.

I DON'T WANT TO CALL IT A PRESENTATION BECAUSE THERE ARE NO SLIDES.

THIS IS JUST GOING TO BE A HIGH LEVEL RESPONSE TO INTEREST IN SOME OF THESE ITEMS. UH, AND WE'RE HAPPY TO DO A DEEP DIVE INTO ANY THING AND EVERYTHING, UH, AT A SUBSEQUENT HOUSING AND PLANNING COMMITTEE MEETING, I WILL SAY REGARDING THE HUB AT H E D TOURS, THE TAX INCREMENT REINVESTMENT ZONE, WHICH ESSENTIALLY ENCOMPASSES ALL OF CENTRAL EAST AUSTIN.

I DO WANT TO LET YOU ALL KNOW THAT THE CURRENT BALANCE IS A LITTLE OVER $5 MILLION IN THAT CHURCH.

UM, OUR NEXT STEP, AND WE WILL BRING IT.

HE BRINGING TO COUNCIL IS A BUDGET OR USE OF THESE FUNDS WE CREATED.

YOU WILL RECALL.

LAST FISCAL YEAR, WE CREATED THE BITTERS BOARD, WHICH IS THE MAYOR AND CITY COUNCIL.

WE WILL BE BRINGING YOU, WHAT'S CALLED A FINANCING PLAN PER STATE LEGISLATION.

AND THAT'S ESSENTIALLY HOW WE PLAN ON INVESTING THESE DOLLARS.

THE BUDGET THAT WE PRESENT HAS TO BE ADOPTED BY THE TOURISM BOARD PRIOR TO, UH, DISPERSING ANY OF THESE FUNDS.

AGAIN, WE HOPE TO DO THAT THIS FISCAL YEAR.

THAT WAS PARTLY OUR PLAN.

UM, ANOTHER THING ON THE CURRENT ACTIVITIES OF HFC ARE THE HOTEL CONVERSIONS, WHICH YOU TALKED ABOUT PREVIOUSLY, UM, AS JAMIE MENTIONED, AND YOU SAW ON THE MAP, WE HAVE THREE HOTELS, UM, THAT WOULD BE CANDLEWOOD, BUNGALOWS, AND BALCONIES TERRORISTS, UM, THAT AHMC RECENTLY APPROVED, UM, CREATING SUBSIDIARY CORPORATION.

THESE ARE SINGLE ASSETS, SINGLE LIABILITY, NONPROFIT

[01:25:01]

CORPORATIONS TO, UH, HOLD THESE, UH, HOTELS AND TO WORKING WITH, UH, OUR COMMUNITY-BASED NONPROFIT ORGANIZATIONS, PARTNERING WITH THEM ON THE REHABILITATION.

UM, AND THE OPERATION OF THESE DEVELOPMENTS AS PERMANENT SUPPORTIVE HOUSING COMBINED WITH, I THINK COUNCIL MEMBER KITCHEN HAD ASKED ABOUT OUR COC UNITS AND THE GRAPH SHOWING A DRAMATIC INCREASE.

AS JAMIE MENTIONED, THAT GRAPH REALLY ENCOMPASSES A SPARROW AT RUTLAND, WHICH IS UNDER CONSTRUCTION RIGHT NOW, 171 NEW UNITS.

UM, AND WE'RE SUPER EXCITED.

IT'S GONE VERTICAL.

WE HOPE TO HAVE THAT OPEN BY THE END OF THIS CALENDAR YEAR, BUT WE WILL ALSO HAVE BETWEEN A SPARROW AND THE THREE HOTELS.

THAT'LL BE MORE THAN 400 PERMANENT SUPPORTIVE HOUSING UNITS THAT WE WILL HAVE, UH, COMING ONLINE IN SHORT ORDER.

YOU'RE VERY EXCITED ABOUT THE HOTEL CONVERSION STRATEGY.

UM, ANOTHER THING COMING UP COMING YOUR WAY, UH, NEXT WEEK ACTUALLY IS THE PUBLIC, UH, FACILITIES, UH, CORPORATION.

THE COUNCIL WILL BE CONSIDERING THE CREATION OF THE AUSTIN HOUSING PUBLIC FACILITIES CORPORATION, WHICH IS A SPECIAL CORPORATION ORGANIZED UNDER A SEPARATE CHAPTER OF STATE LAW.

IT WILL BE PARALLEL TO AUSTIN HOUSING FINANCE CORPORATION IN TERMS OF OUR MISSION AND OUR VISION AND HOW WE INVEST OUR DOLLARS, BUT IT WILL PROVIDE US ACCESS TO A SEPARATE POT OF, UH, PRIVATE ACTIVITY, BOND FUNDING AT THE STATE LEVEL, WHICH IS CRUCIAL TO GET OUR PIPELINE OF AFFORDABLE HOUSING MOVING.

AND THE CREATION OF THIS PFC WILL POTENTIALLY TRIPLE THE NUMBER OF DEVELOPMENTS OR UNITS THAT ARE SUPPORTED BY A CITY ISSUE, PRIVATE ACTIVITY BONDS.

WE'RE VERY EXCITED ABOUT THAT.

THAT'S COMING TO YOU NEXT WEEK.

UM, IN ADDITION, NEXT WEEK, YOU'RE GONNA SEE A COUPLE OF ON THE HFC AGENDA.

A COUPLE OF PROJECTS.

ONE IS AN ODA OWNERSHIP, HOUSING DEVELOPMENT ASSISTANCE PROJECT ON SOUTH CONGRESS.

THAT'S GOING TO PROVIDE 37 AFFORDABLE HOMES AND 37 MARKET RATE HOMES.

UM, AND THEN AS JAMIE MENTIONED PREVIOUSLY, YOU ALSO HAVE YOUR, UH, ON YOUR AGENDA, UH, RHODA RENTAL HOUSING DEVELOPMENT LOAN FOR INTEGRAL CARE.

UM, AND THIS IS WAR PREPARATION, PERMANENT SUPPORTIVE HOUSING FOR 45 INDIVIDUALS, ALL MEN CHACO ROAD.

WE ARE VERY EXCITED ABOUT ALL OF THESE, UH, DEVELOPMENTS AND ACTIVITIES.

WE HAVE A LOT GOING ON AT HFC.

AGAIN, HAPPY TO DO A DEEP DIVE INTO ANY OF THESE AT A FUTURE H UM, H HOUSING AND PLANNING COMMITTEE MEETING.

UM, PLEASE JUST LET US KNOW IF YOU HAVE ANY QUESTIONS.

WE'RE HAPPY TO ANSWER THEM NOW OR FOLLOW UP IN THE FUTURE.

THANK YOU, MANDY.

THANK YOU, MADDIE.

CONGRATULATIONS ON YOUR EVENT.

ALL RIGHT.

ANY OTHER QUESTIONS? UH, COLLEAGUES COME FROM UMBRELLA.

HOW MANY HOTEL? SO ALL OF THE HOTELS THAT WE'RE USING FOR PERMANENT SUPPORTIVE HOUSING HAVE BEEN PURCHASED THROUGH THE AUSTIN, UH, FINANCE, UH, HOUSING FINANCE CORPORATION.

IS THAT CORRECT? UH, NOT ACTUALLY, SORRY FOR PERMANENT SUPPORTIVE HOUSING.

SO HER HOTEL CONVERSION STRATEGY IS A LITTLE BROADER THAN THE PERMIT HOUSING WE ACTUALLY PURCHASED, UM, TO HELP HIS HOUSE WITH ALTERNATIVE SOURCES OF FUNDS THAT ARE PROVIDED A BRIDGE HOUSE.

THAT'S NOT PERMANENT SUPPORTIVE HOUSING, BUT A SIMILAR TARGET POPULATION, PEOPLE EXPERIENCING HOMELESSNESS, ONE WILL UTILIZE LOCAL FUNDS.

THE OTHER ONE WE'LL UTILIZE THAT'S ROADWAY IN, UH, SOUTH I 35.

WE'VE UTILIZED OUR FEDERAL FUNDS CDBG.

AND HOW MANY, UH, THAN HOTELS HAS THE CITY PURCHASE AT THIS POINT, WE HAVE PURCHASED FIVE HOTELS IN TOTAL.

THREE WILL BE UTILIZED FOR PERMANENT SUPPORTIVE HOUSING AND TO, OR BRIDGE HOUSING.

AND HOW MANY ARE OPERATING RIGHT NOW? THE TWO BRIDGE HOUSING, UH, ARE OPERATING THAT THREE PERMANENT SUPPORTIVE HOUSING ARE IN THAT PROCESS OF LINING UP A PERMANENT FINANCING AND REHABILITATION DOLLARS.