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[CALL TO ORDER]
HAVE QUORUMS. I'LL CALL THE COMMISSION TO ORDER AND ASK FOR A ROLL CALL.CAN YOU SEE US OR HEAR US? AND TURN YOUR CAMERA ON PLEASE.
UM, SHE HAD JUST WRITTEN IN THE CHAT IF SOMEBODY COULD UNMUTE HER.
I DUNNO IF THAT'S SOMETHING ON YOUR END.
HELLO? YOU HEAR ME? DID YOU HEAR? NO, WE CAN HEAR YOU.
UH, DO WE HAVE ANY PUBLIC SPEAKERS? I'M SORRY.
ANYONE SIGNED UP TO SPEAK? NO ONE SIGNED UP TO SPEAK.
I, SORRY, I DIDN'T MEAN TO SAY GOOD
[1. Approval of the minutes of the Regular meeting of the Bond Oversight Commission on January 17, 2024.]
OF BUSINESS IS APPROVAL OF THE MINUTES.YOU'VE HAD AN OPPORTUNITY TO STUDY THE MINUTES.
DO I HEAR A MOTION TO APPROVE? SO MOVED.
ANY CORRECTIONS OR QUESTIONS ABOUT THE MINUTES? IF NOT, I'LL ASK FOR A VOTE.
ALL THOSE IN FAVOR, RAISE YOUR HAND.
SEEING NONE, THE MOTION TO APPROVE THE MINUTES CARRIES.
[2. Presentation regarding The Affordable Housing Bond Program by, Awais Azhar, Deputy Director, HousingWorks Austin]
OF BUSINESS IS A PRESENTATION ON THE AFFORDABLE HOUSING BOND PROGRAM.A BASE THANK YOU ALL, UM, FOR GIVING ME THE OPPORTUNITY TO SPEAK WITH Y'ALL.
IF YOU CAN HEAR ME CLEARLY, LET ME KNOW.
AND I KNOW THEY'LL PULL UP THE PRESENTATION HERE IN A SECOND, AND HOPEFULLY I'LL BE ABLE TO MAKE IT WORK.
UM, IN THE MEANWHILE, I'LL START BY SAYING, SO MY NAME IS VE HAR.
I SERVE AS THE DEPUTY DIRECTOR OF HOUSING WORKS AUSTIN.
I'M JUST GONNA TALK A LITTLE BIT ABOUT AFFORDABLE HOUSING BONDS, UH, WHICH WE'RE ALWAYS EXCITED TO TALK ABOUT.
UM, JUST MY INFORMATION IF SOMEBODY WANTS TO, UM, YOU KNOW, REACH OUT TO ME.
SO, AGAIN, MY NAME IS HAR, UM, MY EMAIL IS UP THERE AS WELL.
I THINK I KNOW A LOT OF Y'ALL, WHICH IS GREAT.
AND JUST TO TALK A LITTLE BIT ABOUT WHO WE ARE AND WHY IT WOULD MAKE SENSE FOR US TO GIVE THIS PRESENTATION.
SO, HOUSING WORKS AUSTIN IS THOUGH WE'RE 5 0 1 C3 BASED OUT OF AUSTIN, WE REALLY FOCUSED ON CONDUCTING RESEARCH EDUCATION AND ADVOCACY AROUND HOUSING AFFORDABILITY, INCLUDING THE AFFORDABLE HOUSING BONDS.
SO REALLY, THE ORGANIZATION WAS ACTUALLY FARMED AFTER THE PASSAGE OF OUR FIRST AFFORDABLE HOUSING BONDS IN 2006, UM, WHERE A LOT OF AFFORDABLE HOUSING ADVOCATES CAME TOGETHER AND REALLY THOUGHT IT MADE SENSE FOR, TO HAVE A ORGANIZATION THAT REALLY FOCUSED ON TRACKING THE SUCCESS OF OUR AFFORDABLE HOUSING BONDS, MAKING SURE THAT WE'RE, YOU KNOW, LIVING UP TO THE COMMITMENTS THAT WE'VE MADE TO OUR COMMUNITY.
AND OF COURSE, WE CONTINUE TO DO THAT.
SINCE THEN, OF COURSE, WE'VE SLIGHTLY EXPANDED OUR, UM, MISSION TO INCLUDE OTHER THINGS AS WELL.
SO, I, I AM GONNA DO A VERY BASIC CONVERSATION.
A LOT OF Y'ALL ALREADY MIGHT KNOW THIS, BUT IT'S JUST SOMETHING I'M GONNA REFER TO AGAIN AND AGAIN.
SO I WANTED TO MAKE SURE THAT I TOUCH BASE ON THAT.
SO, MEDIAN FAMILY INCOME IS A, UH, INDICATOR THAT WE USED FOR FIGURING OUT HOUSING AFFORDABILITY AND ALSO ELIGIBILITY ON WHO CAN BE PARTICIPATING IN A PROGRAM.
SO THE MEDIAN FAMILY INCOME ESSENTIALLY REFERS TO THE MEDIAN IN THE OVERALL MSA.
SO WE HAVE A FIVE COUNTY MSA AND THIS IS ALL DESIGNATED BY THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
AND I'LL SHOW YOU IN A SECOND.
THERE'S AN ENTIRE CHART THAT SHOWS WHAT THOSE MFI LEVELS ARE, AND WE DO A LOT OF OUR AFFORDABILITY CALCULATIONS BASED ON THAT.
IT IS UPDATED ON AN ANNUAL BASIS.
WE'RE STILL USING THE 2023 CHART.
UM, THE 2024 CHART WILL LIKELY COME OUT VERY SOON, UM, TO ACTUALLY MAKE THAT FIX, THIS IS A LOT.
YOU DO NOT NEED TO UNDERSTAND ALL OF IT EXCEPT TO KNOW THAT THAT YELLOW BOX IN THE MIDDLE IS THE, UH, IS THE CURRENT MEDIAN FAMILY INCOME THAT WE HAVE IN OUR CITY.
SO A LITTLE OVER 122,000 FOR A FAMILY OF FOUR.
SO YOU'LL SEE THAT, YOU KNOW, FOLKS OFTEN
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GET CONFUSED BECAUSE THERE'S THE PERCENTAGE BASED ON THAT NUMBER, BUT ALSO IT DIFFERS BASED ON THE NUMBER OF PERSONS IN YOUR HOUSEHOLD.SO IF THERE'S AN INDIVIDUAL WHO WE'RE PLACING IN HOUSING FOR THEM, THE MEDIAN FAMILY, AND, UH, MEDIAN HOUSEHOLD INCOME IS ESSENTIALLY AROUND 85,000 OR A COUNTRY VERY CLEARLY FROM HERE MYSELF.
UM, BUT ALL THAT SAID, ESSENTIALLY WHAT IT LOOKS LIKE IS THAT IT VARIES BY HOUSEHOLD AND WE'RE ABLE TO SORT OF PULL INTO THAT.
SO FOR ONE PERSON HERE, UM, THE MEDIAN IS 85,600, AND THEN FOR AN EIGHT PERSON HOUSEHOLD, OF COURSE, IT'S MUCH HIGHER.
SO THAT'S SORT OF HOW THOSE CALCULATIONS ARE DONE.
THIS IS THE CITY'S, UH, STRATEGIC HOUSING BLUEPRINT GOALS.
SO IN 2017, THE AUSTIN CITY COUNCIL ADOPTED THE STRATEGIC HOUSING BLUEPRINT.
SO OF COURSE, THESE COME AFTER IN BETWEEN ALL FOUR DIFFERENT BOND CAMPAIGNS, AND I'LL TALK ABOUT THEM IN A SECOND.
UM, BUT THIS IS SORT OF THE CITY'S, FOR LACK OF A BETTER WORD, A HOUSING PLAN THAT HELPS GUIDE OUR AFFORDABLE HOUSING POLICY AS A COMMUNITY.
THERE WAS A GOAL SET AT THE TIME TO HAVE 135,000 HOUSING UNITS IN 10 YEARS, WHERE AT THE FIVE YEAR MARK, SORT OF IN THE MIDDLE OF THOSE GOALS.
UM, AND I WANNA BE VERY CLEAR THAT WHEN THESE GOALS WERE SET, THEY WERE SORT OF NEED BASED GOALS, NOT WHAT WE KNEW AS A COMMUNITY, WHAT WE COULD DELIVER IN ORDER TO DELIVER THIS.
WE WOULD NEED SIGNIFICANTLY MORE FUNDING AND TOOLS THAT WE HAVE IN OUR TOOLBOX.
I JUST WANNA BE VERY CLEAR THAT AS A COMMUNITY, WHEN WE ADOPTED THESE GOALS, WE WERE ACTUALLY REALLY, THESE ARE ASPIRATIONAL AND AGGRESSIVE GOALS.
WE WERE CHALLENGING OURSELVES TO SAY, THIS IS WHAT THE NEED IN OUR COMMUNITY IS.
EVEN THOUGH WE VERY CLEARLY UNDERSTOOD THAT THE TOOLS THAT WE HAVE IN OUR TOOLBOX WOULD NOT ALLOW US TO GET THERE.
SO WHAT'S IMPORTANT TO NOTE HERE IS THOSE RED AND ORANGE, UM, PIECES.
WE CALL THIS THE DONUT OF THE DONUT.
UM, AND THEY'RE REALLY LOOKING AT AFFORDABLE UNITS AT 60% MEDIAN FAMILY INCOME AND LOWER.
SO THAT'S A TOTAL OF 45,000 UNITS THAT WE NEEDED WITHIN THAT CATEGORY.
AND THIS INCLUDES THE AFFORDABLE HOUSING BOND UNITS AS WELL.
THERE'S A CAVEAT THERE, WHICH IS THAT OUR AFFORDABLE HOUSING BONDS FOR RENTAL ARE 50% MEDIUM FAMILY INCOME AND LOWER.
AGAIN, I'LL TALK ABOUT THAT IN A SECOND.
AND OWNERSHIP DOES INCLUDE THAT LITTLE BLUE PIECE OF THE CHART AS WELL.
AND THEN THE REST OF IT IS THINGS THAT WE EXPECT IT TO BE ABLE TO SERVE THROUGH, UM, OTHER MEANS, NOT NECESSARILY, YOU KNOW, SUBSIDIZE AFFORDABLE HOUSING PROGRAMS, BUT I JUST WANTED TO GIVE YOU ALL THIS AS A CONTEXT OF SORT OF OUR AFFORDABLE HOUSING GOALS.
AND THE CHALLENGE THAT LIES AHEAD OF US KNOWING, UM, HOW MUCH THE ACTUAL SORT OF NEED IN OUR COMMUNITY IS.
I'LL TALK A LITTLE BIT ABOUT THIS CHART.
UM, AGAIN, LOOKING AT SORT OF THOSE MEDIA FAMILY INCOME LIMITS, RIGHT? SO I FEEL LIKE MEDIAN FAMILY INCOME, OF COURSE, IS SORT OF, YOU KNOW, TRADEMARK WITHIN THE HOUSING FIELD AND THE FEDERAL GOVERNMENT, AND THAT'S HOW WE FOLLOW A LOT OF IT.
IT'S HARD TO UNDERSTAND WHAT DOES THAT MEAN.
SO THAT'S WHY WE SORT OF LOOK AT THIS CHART GOING FROM LEFT TO RIGHT.
SO REALLY ON THE LEFT SIDE, WE HAVE FOLKS WHO ARE LIVING BELOW POVERTY.
UM, THIS IS DATA FOR 2022, SO IT'S SLIGHTLY OLDER.
BUT ESSENTIALLY WHEN WE LOOK AT IT, THESE ARE FOLKS WHO ARE EARNING LESS THAN 30,000.
THEIR HOUSEHOLD INCOME IS LESS THAN $30,000 ANNUALLY.
AND WE HAVE, UM, MORE THAN 44,000 HOUSEHOLDS WHO FIT THIS CATEGORY.
A REMINDER, A LOT OF THESE FOLKS ARE SENIORS, PERSONS WITH DISABILITIES, FOLKS ON FIXED INCOMES.
SO THERE'S ALWAYS A CHALLENGE ON WHAT THAT LOOKS LIKE.
THERE'S A VERY LOW INCOME CATEGORY, WHICH IS REALLY THAT 30%, UM, UH, OR SORRY, BELOW 50% MEDIAN FAMILY INCOME.
THIS IS ON THE RENTAL SIDE WHO ARE AFFORDABLE HOUSING BOND SERVE.
SO FOR THE RENTAL SPECIFICALLY, AND THERE'S 142,000 MORE HOUSEHOLDS PLUS HOUSEHOLDS THAT FALL WITHIN THIS CATEGORY.
AND JUST FOR CONTEXT, WHAT THIS LOOKS LIKE IS CHILDCARE PROVIDERS, BUS DRIVERS, COOKS, CUSTODIANS, VISUAL PERFORMANCE ARTISTS, A LOT OF FOLKS WHO MAKE OUR COMMUNITY THRIVE AND COMPLETE, IT'S THOSE FOLKS THAT WE'RE TALKING ABOUT HERE.
AND THEN WHEN WE TALK ABOUT OWNERSHIP, IT'S AGAIN, THE BLUE, UM, SECTION AS WELL.
FOLKS WHO ARE CONSIDERED LOW INCOME BY, UH, THE UNITED STATES HOUSING AND URBAN DEVELOPMENT DEPARTMENT.
SO, UM, ESSENTIALLY THESE ARE FOLKS WHO ARE BETWEEN THAT 55,000 TO 88,000, BELOW 80% MEDIUM FAMILY INCOME, AND THERE'S AROUND 80,000 HOUSEHOLDS THAT FALL WITHIN THIS CATEGORY.
UM, THERE ARE OTHER PROGRAMS THAT SERVE FOLKS WITHIN THAT MODERATE INCOME CATEGORY, UM, BUT THOSE ARE NOT SERVED BY OUR AFFORDABLE HOUSING BONDS.
THERE'S OTHER PROGRAMS THAT WOULD SERVE THOSE FOLKS.
AND AGAIN, WITH THE THE LOW INCOME CATEGORY, WE'RE REALLY TALKING ABOUT TEACHERS, PLUMBERS, UM, YOU KNOW, OUR PUBLIC SAFETY OFFICERS, A LOT OF CRITICAL PEOPLE THAT WE NEED TO MAKE OUR COMMUNITY MOVE.
SO THERE ARE AFFORDABLE HOUSING BONDS.
UM, THERE ARE FOUR PRIORITIES RIGHT NOW THAT ARE, UH, DRIVEN AND IT'S VERY LITTLE OVER THE YEARS, BUT LARGELY SINCE 2018.
WE, UM, USE THE BONDS FOR CREATING AFFORDABLE HOUSING FOR RENTERS, AND THIS INCLUDES PERMANENT SUPPORTIVE HOUSING, UM, FOR FOLKS WHO ARE FORMERLY UNHOUSED.
UM, WE ALSO HAVE AFFORDABLE HOUSING FOR OWNERS.
SO THERE'S, UM, YOU KNOW, OWNERSHIP UNITS AND THERE'S DETAILS ON WHAT THAT LOOKS LIKE, BUT THERE'S LONG TERM AFFORDABILITY TIED TO OWNERSHIP.
SO IT'S A, UM, SHARED EQUITY MODEL WHEREBY WE'RE NOT NECESSARILY TALKING ABOUT, UM,
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BUILDING WEALTH THROUGH HOUSING, ALTHOUGH YOU GET TO BUILD SOME AND MAINTAIN STABILITY.IT'S ABOUT SORT OF MAINTAINING STRONG HOME OWNERSHIP STANDARDS AND MAKING SURE THAT PEOPLE HAVE ACCESS TO THOSE OPPORTUNITIES.
THERE'S A HOME REPAIR FOR ELIGIBLE RESIDENTS.
SO, UH, IF YOU'RE A LOW INCOME, UH, RESIDENT WHO OWNS A HOME CURRENTLY, YOU CAN APPLY FOR THE HOME REPAIR PROGRAM AND WE ALLOW YOU TO DO SOME STRUCTURAL REPAIRS.
WHAT THIS USUALLY LOOKS LIKE IS THEY, IT IS OFTEN SENIORS WHO OWN HOMES AND WHO WILL BE ELIGIBLE AND ARE ON A FIXED INCOME.
AND THIS CAN RANGE FROM ANY KIND OF THING.
BUT HONESTLY, SOME OF THE MOST COMMON THINGS WE'VE SEEN IS, UM, THINGS THAT ALLOW PEOPLE TO AGE IN PLACE.
SO THINGS SUCH AS RAMPS, WIDENING OF DOORS, UM, RODS IN THE SHOWER, THINGS THAT REALLY ALLOW PEOPLE TO STAY IN THEIR HOMES, UM, EVEN AS THEY MIGHT BE FACING SOME MOBILITY CHALLENGES.
AND LASTLY, IT IS A LAND ACQUISITION.
AND THIS IS BOTH OF AWAKENED AND IMPROVED PROPERTY.
UM, SO THAT MEANS, YOU KNOW, LAND, UM, BUT ALSO LOOKING AT SOME MULTI-FAMILY HOUSING AND OTHER PROPERTIES.
UM, AND IT INCLUDES ESSENTIALLY THE PRESERVATION OF EXISTING HOUSING.
AND WE'LL TALK A LITTLE BIT ABOUT SOME OF THOSE TYPE OF THINGS IN A LITTLE WHILE AS WELL.
BUT THESE ARE THE MAIN FOUR PRIORITIES THAT WE FUND THROUGH OUR AFFORDABLE HOUSING BOND PROGRAMS. UM, JUST TEEN TINY BACKGROUND.
THEN I'LL JUMP INTO SORT OF THE MEAT OF OUR MORE RECENT BONDS AS WELL.
SO WE'VE HAD FOUR BONDS, AFFORDABLE HOUSING BONDS IN THE CITY OF AUSTIN IN 2006.
WE HAD A 55 MILLION BOND FOLLOWED BY A 65 MILLION BOND IN 2013.
UM, AND THEN WE REALLY WENT BIG IN 2018 WITH 250 MILLION AND EXPANDED IT FURTHER TO, UH, TO 350 MILLION IN, UM, TWO, 2022.
AND REALLY PART OF WHAT WAS HAPPENING IN THAT CHALLENGE WITHIN THAT 2022 PERIOD WAS THE UNDERSTANDING THAT WE WERE REALLY STILL COMING OUT OF A COVID RECOVERY PERIOD.
UM, THAT REALLY LED TO CHALLENGES WITHIN THE HOUSING MARKET, WHICH REALLY MADE THE NECESSITY OF HAVING THOSE FUNDS SO MUCH MORE IMPORTANT BECAUSE THE DRAWDOWN OF THOSE FUNDS HAD INCREASED.
UM, SIMPLY BECAUSE WE WERE IN ONE OF THE MOST UNUSUAL HOUSING MARKETS THAT WE'VE BEEN IN SINCE 2008.
UM, ONE OF THE INTERESTING THINGS ABOUT THESE BONDS, AND LIKE A LOT OF OUR CAPITAL INVESTMENT BONDS IN THE CITY OF AUSTIN IS THAT THE HOUSING IS DEVELOPED WITH NON-PROFIT AND PRIVATE SECTOR PARTNERS.
SO WE ENTER INTO AGREEMENTS WITH THOSE PARTNERS IN THE CITY.
UM, THERE'S A LOT OF SORT OF LEGAL WORK THAT GOES INTO IT AND COMMITMENTS AND CLEARLY DEFINED ROLES AND RESPONSIBILITIES AND COMPLIANCE AND MONITORING ON THE OTHER END AS WELL, UM, TO ENSURE THAT ALL THOSE COMMITMENTS ARE BEING LIVED UP TO.
BUT ESSENTIALLY THERE ARE NONPROFIT AND PRIVATE SECTOR PARTNERS WHO ARE DOING IT.
SO EXAMPLES INCLUDE, UM, YOU KNOW, FOUNDATION COMMUNITIES, HABITAT FOR HUMANITY, THOSE SORT OF THE BIG ONES, BUT THERE'S A LOT MORE, UM, IN THE MIX NOW AS WELL.
WHAT THIS REALLY ALLOWS US TO DO IS, UM, TO LEVERAGE OUR BOND DOLLARS.
AND WHAT THAT MEANS IS THAT FOR EVERY $1 IN OUR VOTER APPROVED BOND DOLLARS, WE ARE ABLE TO RAISE MORE THAN SIX AND A HALF DOLLARS FROM OTHER SOURCES.
SO THIS INCLUDES OTHER PUBLIC ENTITIES LIKE THE FEDERAL GOVERNMENT, BUT IT ALSO INCLUDES PHILANTHROPY, IT INCLUDES, UH, YOU KNOW, OTHER KINDS OF INVESTMENT DOLLARS AS WELL.
SO THAT'S REALLY THE EXCITING PART THAT WE'RE VERY PROUD OF THE FACT THAT THIS IS 6.5 LEVERAGE RATIO THAT WE'RE ABLE TO DO.
SO REALLY STRETCH THESE BONDS AND THESE PUBLIC FUNDS AS MUCH AS POSSIBLE.
UM, AGAIN, WITH, YOU KNOW, CLOSE EYE TO THE COMMITMENT TO OUR COMMUNITY, JUST A LITTLE BIT ABOUT WHAT THIS HAS HELPED REDUCE.
SO YOU'LL NOTE THAT THIS IS DATA FOR THE 2006 13 AND 2018 BONDS.
UM, WE'RE JUST BEGINNING TO ALLOCATE FUNDING FROM THE, UM, 2000 AND, UM, 22 BONDS.
THERE WAS A FUNDING PLAN ESSENTIALLY THAT WAS PARTIALLY APPROVED THROUGH, UH, THE BUDGET PROCESS.
SO THIS IS REALLY LOOKING BACK AT DATA FOR THE OTHER BONDS.
SO WE HAVE COMPLETELY CLOSED OUT ON THE 2018 BONDS.
UM, LAST TERM, REMEMBER, I THINK WE HAVE A FEW CENTS LEFT IN THERE.
UM, SO REALLY IT'S BEEN SORT OF FULLY ALLOCATED AND DONE, AND ACTUALLY MOST OF IT HAS BEEN EXPENDED FROM THE O UH, EARLIER BONDS AS WELL.
OVERALL, OVER THESE THREE BOND PERIODS, UH, WE HAVE CREATED MORE THAN 8,000 HOUSING UNITS.
SO THIS IS A MIX BECAUSE, UH, I SHOULD BE VERY CLEAR THAT THESE HOUSING UNITS INCLUDES MARKET RATE UNITS AS WELL.
THOSE ARE NOT FUNDED FROM THE BONDS, BUT THE PRESENCE OF THE BONDS IN THE OVERALL DEAL ALLOW THOSE UNITS TO BE BUILT.
NOW, WE OF COURSE, WANT MIXED INCOME HOUSING.
WE DO NOT WANT CONCENTRATION OF, UH, POVERTY OR CONCENTRATION OF INCOME, UM, IN HOUSING PROGRAMS AND DEVELOPMENTS.
SO WE WANNA MAKE SURE THAT THERE'S A MIX OF HOUSING.
HOWEVER, AT THE SAME TIME, WE'RE ABLE TO ESSENTIALLY HAVE HOUSING FOR RENTERS.
OVER 6,600 AFFORDABLE HOMES HAVE BEEN CREATED FOR THAT BELOW, UM, ESSENTIALLY THAT 80% MFI LEVEL AND MORE EXCITINGLY, NEARLY 4,500 HOMES HAVE BEEN CREATED FOR THAT BELOW 50% MEDIAN FAMILY INCOME.
AND THERE'S A LOT OF DETAIL THAT I COULD GO INTO AND I DO WANNA MAKE SURE THAT I LEAVE TIME FOR Y'ALL TO ASK QUESTIONS IN THE END.
UM, BUT OF COURSE, THIS IS REALLY WHAT WE'RE FUNDING WITH OUR AFFORDABLE
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HOUSING BOND IS THOSE 4,500 UNITS AT 50% OF A FINE LOWER, WE'VE BEEN ABLE TO CREATE, UM, CLOSING IN ON 900, UH, AFFORDABLE OWNERSHIP UNITS.AND THESE ARE 80% MEDIAN FAMILY INCOME AND LOWER.
UM, I'LL JUST BE HONEST, RIGHT NOW AS WE'RE LOOKING AT DATA IN OUR MARKET, UM, INCREASINGLY FOCUS EVEN AT 120% MEDIAN FAMILY INCOME ARE NOT FULLY ABLE TO PURCHASE A HOME, UM, IN THE CITY OF AUSTIN.
SO 80% OF COURSE, IS A BIG STEP IN THAT DIRECTION.
WE HAVE, UM, AND THIS DATA, HONESTLY, I THINK THERE'S BETTER DATA OUT THERE, BUT THIS IS DATA THAT IS PUBLICLY AVAILABLE RIGHT NOW.
SO WE HAVE 575 PERMANENT SUPPORTIVE HOUSING UNITS.
UM, AND THIS PROGRAM HAS CHANGED OVER THE YEARS.
WE NOW ACTUALLY FOCUS ON, UH, WHAT WE CALL A CONTINUUM OF CARE UNITS, UM, SO THAT THEY GO THROUGH A COORDINATED ASSESSMENT WITH, UM, WITH OUR HOMELESSNESS RESPONSE SYSTEM WORK THAT IS LED BY ECHO UNDER THE GUIDANCE OF HUD.
AND THEN LASTLY, UM, I DO NOT HAVE DATA FOR ALL THE UNITS, BUT JUST IN THE LAST FISCAL YEAR, WE HELPED 173 HOUSEHOLDS THROUGH THE HOME REPAIR PROGRAM.
AND THAT HAS PRETTY MUCH REMAINED STABLE, UM, EXCEPT FOR THE COVID YEARS, UM, WHERE WHILE DURING, UM, ISOLATION AND QUARANTINE PROTOCOLS, WE WERE NOT HAVING CONTRACTORS AND, UH, OTHER PEOPLE GOING TO PEOPLE'S HOMES.
SO THAT PROGRAM SLOWED DOWN DURING THOSE, UH, THAT SPECIFIC TIME PERIOD WHERE WE WERE IN A HEALTH CRISIS.
UM, THE LAST PIECE OF THIS, OF COURSE, IS A LAND ACQUISITION.
SO THIS REALLY CAME INTO BEING WITH A 2018 BOND.
THE 2006 AND 13 BONDS DID NOT NECESSARILY HAVE THIS FOCUS, BUT A HUNDRED MILLION WAS ALLOCATED SPECIFICALLY FROM THE 2018 BONDS, UH, FOR THIS PURPOSE.
SO WE HAVE ACQUIRED OVER 50 ACRES, UM, 20 SINGLE FAMILY HOMES HAVE BEEN ADDED TO THE COMMUNITY LAND TRUST THAT THE CITY HAS.
AND THERE'S, UM, IT'S, IT'S A VERY SMALL PROGRAM, BUT WE'RE TRYING TO DO SOME REALLY EXCITING THINGS LIKE A PREFERENCE POLICY FOLKS MIGHT HAVE HEARD THE RIGHT TO RETURN.
UM, THAT'S OUR SORT OF LEGALLY RESPONSIBLE ANSWER TO THAT QUESTION.
UM, WE'VE BEEN ABLE TO PURCHASE NINE MULTIFAMILY PROPERTIES, UM, AND A LOT OF THESE ARE DONE THROUGH PARTNERSHIPS.
THERE'S TWO OTHER PARTNERSHIP RESERVE PROPERTIES AS WELL.
THREE HOTELS WERE PURCHASED, UM, TO BE CONVERTED TO PERMANENT SUPPORTIVE HOUSING.
AND, UM, THOSE ARE IN THE WORKS.
AND THAT WORK ACTUALLY SLIGHTLY SLOWED DOWN, UM, AGAIN, DURING THE COVID-19 PANDEMIC BECAUSE A LOT OF THOSE WERE BEING USED FOR, UM, REALLY HOUSING PEOPLE AT AN EMERGENCY LEVEL.
SO THEY WERE USED AS PROLOGIS SOMETIMES, UM, I WON'T GO INTO TOO MUCH, BUT ESSENTIALLY FROM THE 2018 BOND, YOU CAN SEE REALLY THAT, UM, LESS THAN $8 IS LEFT OVER.
EVERYTHING ELSE HAS BEEN ALLOCATED.
SO WE'RE VERY PROUD THAT WE'RE ALMOST, WE'RE PRETTY MUCH CLOSED OUT THE 2018 BOND, AND WE'RE MOVING ON TO THE 2022 BOND.
THIS IS JUST HONESTLY, BECAUSE IT BRINGS ME SO MUCH JOY ON A PERSONAL LEVEL.
UM, JUST AN EXAMPLE OF, SO ON THE LEFT YOU HAVE THESE ROW HOUSES IN, UH, MILLER THAT WERE DONE BY HABITAT FOR HUMANITY.
AND THEN ON THE RIGHT YOU HAVE LAUREL CREEK APARTMENTS IN NORTH LAMAR, UM, BY FOUNDATION COMMUNITIES.
AND, UM, YOU KNOW, OF COURSE THESE ARE BEAUTIFUL HOMES AND IT REALLY CHANGES THE LIVES OF THE PEOPLE WHO GET TO ACCESS THEM AND, UH, BENEFIT FROM THEM.
BUT I ALSO WANNA SAY WE'RE VERY PROUD AS A COMMUNITY THAT WE GET TO BUILD HOUSING FOR FOLKS, UM, WHERE WE ARE AS MUCH PROUD OF THE WAY IT LOOKS AND WHAT THE FINISHES LOOK LIKE AND WHAT THE QUALITY OF THAT HOUSING LOOKS LIKE, AND ANY OTHER HOUSING ON OUR MARKET.
AND WE'RE VERY PROUD OF THAT FACTOR.
THIS IS A LOT YOU PLEASE DO NOT BOTHER GOING INTO THE DETAIL OF IT.
THIS IS A MAP OF OUR, UH, SORT OF BOND FUNDED PROPERTIES.
I REALLY SHARE THIS FOR ONE SPECIFIC PURPOSE, AND THIS NEEDS TO BE SLIGHTLY UPDATED TO BE HONEST.
THE, THE IMPORTANT THING TO NOTE IS THAT THE BLUE IS OUR FIRST BOND.
UH, GREEN IS OUR SECOND BOND, AND ORANGE IS THE 2018 BOND.
SO THE LATEST ONE THAT WE HAVE DATED FOR, AND WHAT WE'VE REALLY MADE AN EFFORT OVER THE YEARS IS EXPAND HOUSING TO MORE HIGH OPPORTUNITY AREAS, UH, HAVE MORE HOUSING DISPERSION AND OUR COMMITMENTS TO FAIR HOUSING.
SO YOU'LL SEE THAT FROM THE EARLIER BONDS.
WE WERE REALLY FOCUSED ON EAST AND SOUTH.
SINCE THEN, WE'VE EXPANDED THAT FURTHER AND FURTHER.
AND REALLY WITH THE 2018 BONDS, WE'RE VERY PROUD THAT WE'RE INCREASINGLY GOING TO, UM, YOU KNOW, NORTHWEST AND NORTH AUSTIN AND OTHER PARTS OF THE CITY AS WELL.
SO WE'RE MAKING SURE THAT THESE AFFORDABLE HOUSING OPPORTUNITIES EXIST THROUGHOUT OUR COMMUNITIES.
UM, TWO LAST THINGS, IF Y'ALL BEAR WITH ME, UM, THAT I WANNA TALK ABOUT IS THAT WE'RE ALSO VERY PROUD OF THE FACT, ONE THING THAT WE GO THROUGH WHEN I WHEN WE GO THROUGH OUR AFFORDABLE HOUSING BOND, UM, CAMPAIGNS, IS REALLY FOCUSED ON WHAT IS THE ECONOMIC IMPACT FOR OUR COMMUNITY OF THESE BONDS.
THERE IS NO DOUBTING THE FACT THAT THERE IS A EXTREMELY IMPORTANT IMPACT ON AFFORDABILITY, ON QUALITY OF LIFE FOR THE RESIDENTS WHO LIVE THERE, BUT FOR OUR OVERALL ECONOMY, THERE IS BENEFITS AS WELL.
SO THIS IS REALLY JUST ONLY LOOKING AT PARTIAL DATA.
UM, AND WE HAVE REPORTS ON THE HOUSING WORKS WEBSITE IF YOU WANT TO DIG IN DEEPER INTO WHAT THIS LOOKS LIKE.
BUT BASED ON ECONOMIC ANALYSIS, WE SEE THAT EVEN WITH THE 138.6 MILLION THAT WAS SPENT IN SORT OF THE LATEST ROUND OF FUNDING IN THE PREVIOUS YEARS, UM, JUST DURING THE CONSTRUCTION PHASE ALONE, OVER A BILLION DOLLARS
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IN TOTAL ECONOMIC IMPACT WAS CREATED FOR OUR LOCAL COMMUNITY.THIS INCLUDED NEARLY 7,500 CONSTRUCTION JOBS, WHICH IS OF COURSE VERY EXCITING.
AND THEN THAT ABILITY TO LEVERAGE THOSE DOLLARS, UM, AS WE WENT FORWARD, SIMILARLY AT AN ONGOING LEVEL, WE SEE THAT WITH THAT, THAT 138.6 MILLION WE'RE COMING ONTO NEARLY AN ECONOMIC IMPACT OF A HUNDRED MILLION DOLLARS, UM, PER YEAR.
AND A REMINDER THAT THE AFFORDABILITY PERIODS ARE SUCH THAT FOR RENTAL HOUSING IT'S 40 YEARS FOR OWNERSHIP HOUSING, IT'S NINE, NINE YEARS.
SO OVER A 40 YEAR PERIOD, WE'RE TALKING ABOUT ANOTHER $4 BILLION FOR OUR LOCAL COMMUNITY FOCUSED ON THAT.
AND THIS INCLUDES 700 JOBS THAT ARE CREATED FOR FOLKS WHO ARE PROVIDING SUPPORTIVE SERVICES FOR PEOPLE IN THIS HOUSING.
UM, SO ALL THAT SAID, I'LL JUST SAY, YOU KNOW, WE'RE VERY, VERY PROUD, PROUD OF OUR BOND PROGRAM AND I'M HAPPY TO ANSWER ANY QUESTIONS THAT Y'ALL MIGHT HAVE.
I'LL START OFF WITH A REAL GENERAL QUESTION AND THEN I'D, I'D LIKE TO SUGGEST FOR THAT WE, UH, EACH DO ONE QUESTION AT A TIME TO MAKE SURE WE SPREAD THE JOY AROUND.
SO THE GENERAL QUESTION IS, UM, I'M SURE YOU'RE PROBABLY AWARE, QUALITY OF LIFE COMMISSIONS ARE IN THE PROCESS OF DOING THEIR BUDGET RECOMMENDATIONS.
COULD WE HAVE, FIRST QUESTION, COULD WE HAVE ACCESS TO YOUR PRESENTATION AND DO YOU MIND IF WE SHARE THAT WITH THE QUALITY OF LIFE COMMISSIONS IN THEIR WORK GROUPS? UM, CERTAINLY CHAIR, I'LL MAKE SURE THAT THAT IS SHARED WITH STAFF AND YOU CAN DISTRIBUTE IT.
I WILL SAY, UM, IF YOU GO TO THE HOUSING WORKS AUSTIN WEBSITE, UM, THERE'S A LOT MORE IF PEOPLE WANNA REALLY DIG INTO THE MAPS OR THEY WANT TO DIG INTO THE ECONOMIC REPORTS.
UM, THERE'S A LOT MORE DATA ONLINE, BUT CERTAINLY WE WOULD BE MORE THAN HAPPY TO SHARE THIS.
FEEL FREE TO DISTRIBUTE IT WITH ANYONE.
I MUST'VE MISSED IT ON THE PRESENTATION, BUT WHAT ARE YOU USING TO DEFINE AFFORDABILITY? UM, SO AFFORDABILITY UNDER HUD STANDARDS, ESSENTIALLY THERE, THERE'S TWO THINGS THAT ARE HAPPENING AT THE SAME TIME.
ONE IS THAT MFI LEVEL, SO WHAT INCOME LEVEL AND HOUSEHOLD CATEGORY YOU'RE IN.
SO THAT IS WHAT MAKES YOU ELIGIBLE FOR A PROGRAM.
AND THEN AFTER THAT, IT'S ESSENTIALLY 30% OF THAT VALUE FOR BOTH HOUSING AND UTILITIES RELATED COSTS.
AND THERE'S A STANDARD WAY OF CALCULATING THAT UTILITY BASED COST.
SO THAT'S FOR RENTAL, THAT'S SORT OF MUCH SIMPLER.
AND THEN FOR OWNERSHIP, IT'S SIMILAR THAT FOR FOLKS LIKE HABITAT, WHICH IS DOING OUR MOST EXPANSIVE HOME OWNERSHIP PROGRAM, OR HONESTLY GUADALUPE NEIGHBORHOOD DEVELOPMENT CORPORATION OR OTHERS, CHESTNUT, UM, MORE LAND TRUSTS THAT ARE DOING THAT WORK.
THEY ESSENTIALLY HAVE A PRICE POINT AS WELL THAT THEY HAVE TO MEET.
I AND THEY, THIS DATA IS AVAILABLE ON THE CITY'S WEBSITE.
I WOULD NOT REMEMBER OFF THE TOP OF MY HEAD, BUT I WANNA SAY FOR A WHILE IT WAS AROUND $185,000 WAS WHAT THE HOME, UM, PRICE GAP WAS FOR SALES AS WELL.
SO FOR SALES IS NOT DEPENDENT ON INCOME THAT IT, IT IS IN THE SENSE THAT YOU HAVE TO MAKE BELOW 80% MEDIAN FAMILY INCOME.
BUT, UH, I'M JUST, I GUESS MY QUESTION IS WHAT DOES THAT MEAN FOR THE PERSON OF, LET'S SAY SOMEONE THAT HAS A INCOME OF 27,000 ON THE PROPERTY LINE, RIGHT? YEAH.
FOR OWN, I KNOW FOR OWNERSHIP THAT WOULD, THAT WOULD MEAN HOW MUCH PER MONTH THAT THEY HAVE TO PAY OR, YOU KNOW, SO IT'S BASED OFF ESSENTIALLY THAT 30% OF THAT 80%.
NOW, I WILL SAY THE CHALLENGE WITH OWNERSHIP, AND I'LL BE HONEST, THERE'S, YOU KNOW, YOU'LL SEE THAT IT'S SAID 80% IS REALLY WHEN WE GO MUCH BELOW THAT 80% MFI.
WHAT STARTS HAPPENING IS PEOPLE ARE NOT, UM, THEY ESSENTIALLY CANNOT GET A LOAN, A REGULAR MORTGAGE LOAN, YOUR BANK WOULD JUST NOT LEND TO YOU.
SO REALLY EVEN AT 65% OF A FIVE, WHICH IS VERY UNUSUAL, IT'S SORT OF LIKE THOSE STELLAR CANDIDATES WHO HAVE THE PERFECT CREDIT SCORES WHO'VE DONE HOMEOWNER PREPARATION, WHO ESSENTIALLY YOU'VE, YOU KNOW, DOTTED ALL YOUR I'S AND CROSSED ALL YOUR T'S.
BUT REALLY THAT 70 TO 80% IS WHERE MOST PEOPLE BECOME ELIGIBLE.
OTHERWISE, IT'S REALLY A QUESTION OF LENDING, UM, THAT WE'RE NOT ABLE TO DO UNLESS OF COURSE WE REALLY DEEPLY SUBSIDIZED IT AND LOWERED THEIR VOLUME.
ON THE 2022 BOND, YOU SAID YOU'RE JUST STARTING TO ALLOCATE THAT.
WHAT IS YOUR EXPECTED TIMEFRAME TO HAVE THAT FULLY ALLOCATED? UM, I'M SORRY.
SO I KNOW THAT THE CITY STAFF RIGHT NOW HAS A PLAN TO HAVE IT ESSENTIALLY GOING UP TILL 2028 POTENTIALLY.
UM, I WILL SAY AGAIN, I THINK THE, WHEN WE SAY 2028, WHAT THAT REALLY MEANS IS THAT WE'RE GONNA BREAK IT DOWN AND ALLOCATE A CERTAIN AMOUNT EACH YEAR.
I THINK THERE'S A LOT MORE INTEREST IN THE COMMUNITY OF FOLKS WHO ACTUALLY WOULD LIKE TO DRAW DOWN MORE FUNDS TO DO AFFORDABLE HOUSING.
BUT WE ALSO UNDERSTAND THAT WE'RE DRAWING OUT OUR, UH, BOND DOLLARS OVER MULTIPLE YEARS.
BUT CURRENTLY THE SPEND PLAN, I THINK TAKES US TO 2028.
SO THAT WOULD BE A SIX YEAR SPENDING.
AND WITH THE CAVEAT THAT, YOU KNOW, AS A SORT OF AN ADVOCATE, I'LL, IF YOU ALLOW ME TO PUT ON MY ADVOCATE HAT FOR A SECOND, WHICH IS WE KNOW THAT THE NEED IS SO MUCH MORE.
SO JUST TO PROVIDE CONTEXT OF QUITE A FEW YEARS AGO, UM, YOU KNOW, OUR CITY COUNCIL ASKED STAFF
[00:25:01]
TO TELL US IF WE WERE TO RESOLVE OUR AFFORDABLE HOUSING ISSUES SORT OF IN THAT MOMENT AND WHAT WOULD IT NEED.AND, UM, THEY ESSENTIALLY RECOMMENDED WE WOULD NEED OVER $6.2 BILLION, WHICH OF COURSE WE KNOW WE'RE NOT ABLE TO, UM, UH, YOU KNOW, HAVE THAT KIND OF DEBT AS A CITY OF COURSE.
SO WE'RE SORT OF TAKING IT IN PIECEMEAL, BUT WE KNOW THAT THAT DRAWDOWN PLAN TAKES US TO 2028 BECAUSE THAT IS SORT OF HOW WE'LL BE ABLE TO SPEND THE DOLLARS.
SO I'M CURIOUS, IS THERE A, IS THERE A SPOT ON THE AFFORDABLE, UH, HOUSING WORKS WEBSITE OR ELSEWHERE THAT YOU KNOW OF THAT KIND OF ALLOWS YOU TO DRILL DOWN, LIKE THE MAP YOU HAD OF THE, OF THE LAST THREE TO GO SEE, OKAY, THIS PROJECT WAS APPROVED, IT RECEIVED $2 MILLION AND IT RESULTED IN, YOU KNOW, 53 AFFORDABLE HOUSING UNITS.
IS THAT AN, AN, UH, OF ANYWHERE? SO NOT ON THE AFFORDABLE HOUSING AS NOT ON OUR HOUSING WORKS WEBSITE, WE SORT OF DO THE COLLATED DATA.
THE DATA ALL COMES FROM ACTUALLY THE CITY.
SO ON THE CITY'S DATA PORTAL, THERE IS A SPREADSHEET CALLED THE AFFORDABLE HOUSING INVENTORY.
AND OUR HFC STAFF UPDATES IT HONESTLY VERY REGULARLY.
SO I LITERALLY SAT DOWN LAST NIGHT AND GOT THE LATEST, UH, NUMBERS FROM THEIR, 'CAUSE WE HAVE TO CONSTANTLY UPDATE THOSE GRAPHICS.
UM, BUT THE AFFORDABLE HOUSING INVENTORY AND THE DATA PORTAL HAS INFORMATION ON ALL OF OUR AFFORDABLE HOUSING PROGRAMS, AND THIS INCLUDES, UM, POLICY-BASED PROGRAMS LIKE DENSITY BONUS PROGRAMS, HOUSING TRUST FUND, OTHER PARTNERSHIPS, BUT YOU'RE ABLE TO DRAW DOWN BY EACH DIFFERENT BOND, UM, YOU'RE ABLE TO LOOK AT HOW MANY, HOW MUCH MONEY WAS ALLOCATED, THE NUMBER OF UNITS CREATED ARE THE DIFFERENT MFI LEVELS.
IF YOU WANT DEEPER DRILL DOWN TENURE, WHO THE DEVELOPER WAS, THERE'S THAT.
HONESTLY, THAT SPREADSHEET IS A MASTER DOCUMENT AND IF SOMEBODY CANNOT FIND IT, I'M MORE THAN HAPPY TO SHARE THAT AS WELL.
I I DON'T HAVE A VIEW OF THE VIRTUAL ATTENDEES RIGHT BEHIND YOU.
AND AT, AT THE BEGINNING THERE WAS A SLIDE THAT SHOWED WHAT SHOWED WHAT OUR GOAL WAS.
UM, I DON'T THINK I CAUGHT HOW FAR INTO THAT GOAL PERCENTAGE WISE WE HAVE ARRIVED.
UM, THAT IS A, I DO NOT HAVE THAT READILY IN FRONT OF ME.
IF YOU GO TO THE CITY'S WEBSITE, WE HAVE WHAT WE CALL OUR AFFORDABLE HOUSING BLUEPRINT SCORECARDS.
UM, THEY'RE ON THE HOUSING WORKS WEBSITE AS WELL.
WE CRUNCH THAT DATA IN PARTNERSHIP WITH THE CITY.
IT ESSENTIALLY LOOKS AT HOW WE'RE ABLE TO TRACK SUCCESS AGAINST THOSE GOALS.
AND I SHOULD BE CLEAR THAT THAT IS JUST SORT OF THE SHEER NUMBER GOALS.
BUT WE HAVE GOALS AROUND, UM, PRESERVATION AROUND PERMANENT SUPPORTIVE HOUSING AROUND HOUSING AND HIGH OPPORTUNITY AREAS LINKING TO IMAGINE AUSTIN CENTERS IN CORRIDORS.
THERE'S A LOT MORE GOALS IN THOSE SCORECARDS, AND YOU CAN LOOK AT THE SUCCESS OF WHAT THAT IS.
AND I WOULD AGAIN, SORT OF CAUTION US WITH THE THINGS THAT WE ALWAYS LOOK AT THOSE NUMBERS, AND I THINK THEY'RE VERY CRITICAL NUMBERS TO MAKE SURE THAT WE'RE SORT OF, YOU KNOW, TRYING TO DO THE BEST WE CAN.
BUT AGAIN, IF YOU GO AND READ INTO THE HOUSING BLUEPRINT, YOU REALLY SEE HOW OUR STAFF WAS VERY CLEAR IN INDICATING THAT WE UNDERSTOOD THAT THERE WERE A LOT OF STRUCTURAL CHALLENGES TO MEETING THOSE GOALS, UM, JUST SIMPLY BECAUSE WE DO NOT HAVE ALL THE TOOLS WE WOULD NEED TO ACHIEVE THOSE.
AND A FOLLOW UP QUESTION, WHAT IS THE OCCUPANCY RATE OR THE VACANCY RATE AND HOW LONG THE WAITING LIST TO GET ACCESS TO, UM, THIS HOUSING? THAT WAS MY QUESTION.
I WOULD SAY THAT'S A VERY GOOD QUESTION.
I CANNOT SAY IF I KNOW THE VACANCY RATE LIKE THAT.
SO AGAIN, BECAUSE WE DO IT THROUGH PARTNERS, THERE'S NOT A COORDINATED CENTRAL WAITING LIST.
SO OUR PARTNERS HAVE THEIR OWN, SO FOUNDATION COMMITTEES HAS ITS OWN SORT OF ELIGIBILITY PROGRAMS. UM, HABITAT IS DOING ITS OWN AND THEY HAVE TO TRAIN AND PREPARE PEOPLE TO BE ABLE TO GO AND DO SOME, YOU KNOW, CREATIVE MORTGAGE LENDING.
SO WE DO NOT HAVE A CLEAR SORT OF, UH, NUMBER ON THAT.
WHAT I WILL SAY IS THAT, FRANKLY, THERE'S ALMOST NO VACANCY AT ALL.
WHAT THE VACANCY WILL LOOK LIKE IS SORT OF THE NATURAL CHURN THAT YOU MIGHT HAVE BETWEEN TENANTS, WHERE SOMEONE LEAVES A UNIT HAS TO BE PREPARED AND OPEN UP FOR THE NEXT FOLKS TO MOVE IN.
THERE ARE HONESTLY LONG WAITING LISTS.
THEY VARY ACROSS THE DIFFERENT ORGANIZATIONS, BUT AGAIN, AS I MENTIONED, THE NEED IS SO MUCH MORE THAN WHAT WE'RE ABLE TO PROVIDE, UM, THAT WE SORT OF TRY OUR BEST AND UNDERSTAND THAT VACANCY IS GONNA BE VERY LOW BECAUSE THERE'S A LOT MORE FOLKS WHO WOULD LIKE TO CONTINUE LIVING IN THAT HOUSING AND WOULD ACTUALLY, UH, BE ELIGIBLE FOR IT AS WELL.
ONE TEENY TINY CAVEAT THAT I'LL GET TO THAT IS OF COURSE WE'RE LOOKING AT THE CITY OF AUSTIN, BUT THIS IS TRULY A LARGER HOUSING ECOSYSTEM PROBLEM WITHIN OUR NATION.
SO ACCORDING TO THE NATIONAL LOW INCOME HOUSING COALITION, ONLY ONE FOURTH OF HOUSEHOLDS WHO WILL BE ELIGIBLE FOR AFFORDABLE HOUSING PROGRAMS FOR THE FEDERAL GOVERNMENT ACTUALLY EVER GET THOSE PROGRAMS. SO YOU CAN SEE HOW MUCH OF A DISCREPANCY THERE IS AND HOW MUCH OF A BIG CHALLENGE WE HAVE AHEAD OF US AS A COMMUNITY.
[00:30:01]
QUESTION SPECIFICALLY.MY, I MY UNDERSTANDING, WHICH MAY BE TOTALLY OFF BASE, IS THAT ACTUALLY THE ONLY INFORMATION WE HAVE ON THE TENANTS OF THE AFFORDABLE RENTAL HOUSING IS ON THE ORIGINAL OCCUPANT.
SO WE DON'T KNOW TURNOVER RATE, WE DON'T KNOW ANYTHING ABOUT THE DEMOGRAPHICS OF THE POPULATION BEING SERVED.
UM, THAT SEEMS TO BE A PROBLEM TO ME, AT LEAST WHEN YOU LOOK AT IT FROM THE QUALITY OF LIFE COMMISSION STANDPOINT.
THOSE COMMUNITIES, UM, THAT ARE REPRESENTED ON OUR, ON OUR CITY'S DIFFERENT QUALITY OF LIFE COMMISSIONS HAVE NO CLUE HOW WELL THE AFFORDABLE HOUSING PROGRAM THAT THEY'VE BEEN SUPPORTING IS ACTUALLY SERVING THEIR COMMUNICATING.
UM, CHAIR, I, WHAT I WOULD SAY TO THAT IS YOU ARE WRITING THAT WE DON'T HAVE DEMOGRAPHIC DATA ON, UM, THE FOLKS, AND I KNOW THAT, YOU KNOW, UH, WE'VE LONG HAD THIS CONVERSATION WITH THE CITY.
WHEN I WAS ON A QUALITY OF LIFE COMMISSION, WE HAD THIS CONVERSATION OFTEN, AND THERE WAS A CHALLENGE OF HOW MUCH INFORMATION THE CITY COULD COLLECT WITHOUT IT SORT OF ENTERING THE PUBLIC DOMAIN.
UM, OF COURSE WE, WE WANT TO UNDERSTAND DEMOGRAPHICALLY WHO ARE WE, YOU KNOW, SERVING MM-HMM,
WHAT I WILL SAY FOR THE RENTAL PROGRAMS IS THAT WE DO DO INCOME VERIFICATION REGULARLY.
SO ESSENTIALLY EVERY TIME, LIKE ANY OTHER LEASE, UM, YOU KNOW, WHEN, IF ANYBODY'S A TENANT, THEY KNOW IF YOU RENEW YOUR LEASE, YOU WILL GO THROUGH, UM, ESSENTIALLY A VERIFICATION OF YOUR INCOME AT THAT POINT.
SO THAT INCOME VERIFICATION IS HAPPENING EVERY TIME.
SO IT'S PERIODICALLY HAPPENING KIND OF ALMOST AT AN ANNUAL BASIS WHERE WE'RE ASSESSING TO MAKE SURE THAT, UM, YOU ARE NOT ABOVE THAT INCOME THRESHOLD BECAUSE WE HAVE A COMMITMENT TO BE WITHIN THOSE INCOME THRESHOLD.
NOW THERE'S A CONVERSATION DOESN'T APPLY TO OUR PREVIOUS BONDS 'CAUSE THOSE ARE THE WAY THEY ARE STRUCTURED AS A CONVERSATION TO SEE HOW DO WE ADDRESS THIS CHALLENGE IN THE FUTURE.
WHERE WHAT'S HAPPENING IS SOMEBODY'S AT 50, 49% MFI, LET'S SAY, AND THEY'RE ELIGIBLE FOR AN AFFORDABLE HOUSING UNIT, THEY SUDDENLY START MAKING 52% MFI, LET'S SAY THEY'RE IN A THOUSAND DOLLARS MORE.
DOES THAT SUDDENLY MEAN THAT OUR HOUSING MARKET IS SERVING YOU? WE KNOW IT DOESN'T, RIGHT? SO YOU'RE NO LONGER ELIGIBLE UNDER THE PROGRAM.
WE ALSO DO NOT WANT TO, UM, UH, KICK YOU OUT NECESSARILY.
SO THAT'S JUST AN ONGOING CONVERSATION ALMOST IN ALL OF OUR SOCIAL SERVICES AND AFFORDABLE HOUSING PROGRAMS NATIONWIDE.
WE DON'T WANT PEOPLE TO FALL OFF THE CLIFF.
UM, SO WE DO THAT SORT OF INCOME VERIFICATION, BUT YOU'RE RIGHT THAT WHAT WE DO NOT HAVE IS DEMOGRAPHIC DATA BECAUSE OF THOSE CHALLENGES.
BUT I THINK THOSE ARE STILL CONVERSATIONS WORTHY OF PURSUING BECAUSE WE WANT TO UNDERSTAND FROM AN EQUITY PERSPECTIVE, WHO ARE WE SERVING AND WHAT GAPS REMAIN.
WELL, NOT ONLY DEMOGRAPHIC INFORMATION, BUT JUST BASIC TURNOVER INFORMATION YOU ASK ABOUT VA VACANCIES.
UH, OUR, UH, COMMISSIONER LUCAS ASKED ABOUT VACANCIES, BUT, UM, A LOT OF THE, A LOT OF THE TOWN HALL MEETINGS THAT WE HAVE, WE HEAR COMPLAINTS, UM, FROM PEOPLE, UM, ABOUT BEING FORCED OUT OF AFFORDABLE HOUSING FOR REASONS THAT THEY FEEL WERE UNJUSTIFIED.
UM, AND YOU ALSO HEAR, YOU KNOW, COMPLAINTS FROM PEOPLE ABOUT THE LIVING CONDITIONS IN, IN THE AFFORDABLE HOUSING TURNOVER RATE WOULD GIVE YOU SOME GLIMPSE INTO THAT KIND OF ISSUE.
AND CERTAINLY TURNOVER RATE DOES NOT CREATE A PRIVACY CONCERN.
SO, AND, AND CHAIR, I, WHEN YOU SPEAK OF A BALANCE BETWEEN PRIVACY AND LACK OF DATA, IT DOESN'T SOUND LIKE A BALANCE TO ME.
IT SOUNDS LIKE WE'RE JUST NOT KEEPING DATA EXCEPT FOR THE DATA THAT DRIVES RENT INCREASES.
I, I WOULD SAY CHAIR, I THINK THAT'S A REALLY GOOD POINT.
UH, I SHOULD BE VERY CLEAR IN SAYING THAT I DON'T HAVE THAT VACANCY DATA.
I'M NOT SURE IF OUR HOUSING DEPARTMENT IS ABLE TO COLLECT THAT FROM THE VARIOUS SORT OF PARTNERS WHO ARE DEVELOPING THE HOUSING.
IT'S WHERE THEY CAN DO, UM, A FEW THINGS I WANT TO NOTE ON THAT IS ONE, I THINK OFTEN WHEN FOLKS ARE TALKING ABOUT AFFORDABLE HOUSING PROGRAMS, IT'S A REALLY BIG MIX.
SO WE HAVE OUR AFFORDABLE HOUSING BOND PROGRAMS, BUT WE HAVE THE STATE LOW INCOME HOUSING TAX CREDIT PROGRAM.
WE HAVE THE FEDERAL SECTION EIGHT PLACE BASED PROGRAM.
IT'S, AND IT'S VARIOUS DIFFERENT PARTNERS.
IT'S VERY HARD TO UNDERSTAND FROM THAT PERSPECTIVE OF WHERE THE CHALLENGES ARE.
I WILL SAY TURNOVER IS VERY LOW.
ACTUALLY, WHAT WE DO KNOW FROM MOST OF OUR PROVIDERS IS IT'S VERY STABLE, UM, AND REMAINS THAT WAY.
WE HAVE ALSO, WHAT WE'VE DONE OVER THE YEARS IS WE'VE EXPANDED WHAT WE CALL THE, UM, BEAR WITH
[00:35:01]
ME.IT'S A LITTLE WONKY, BUT OUR RENTAL HOUSING PROGRAM IS CALLED THE RENTAL HOUSING DEVELOPMENT ASSISTANCE PROGRAM, RHODA, AND WE'VE DONE A LEASE ADDENDUM THAT ESSENTIALLY EVERYONE WHO IS SERVING TENANTS HAS TO, UH, PROVIDE THAT LEASE ADDENDUM, WHICH INCLUDES HEIGHTENED TENANT PROTECTIONS AROUND WHEN A PERSON MIGHT BE EVICTED.
SO THERE'S THINGS SUCH AS WHAT WE CALL JUST CAUSE EVICTION, UM, TENANT'S, RIGHT, TO ORGANIZE, UM, NO DISCRIMINATION BASED ON SOURCE OF INCOME AND A LOT OF OTHER THINGS.
SO BECAUSE THESE ARE, UH, CITY CONTROLLED SUBSIDY DOLLARS, WE'RE ABLE TO ASK LANDLORDS TO PROVIDE MUCH MORE INCREASED PROTECTIONS UNDER THOSE.
YOUR, YOUR TITLE IS HOUSING WORKS AUSTIN, AND I'M ASSUMING YOU HAVE SISTER AGENCIES AROUND THE COUNTRY? WE, WE DO NOT.
IF YOU'RE THINKING OF A HOUSING WORKS NEW YORK, THEY'RE AN AMAZING AGENCY.
WE HAVE NOTHING TO DO WITH THEM.
UM, THEY'RE ACTUALLY A SERVICE PROVIDER BASED OUT OF NEW YORK, BUT IN TEXAS WE'RE THE ONLY HOUSING WORKS.
AND YOU HAVE A BOARD? UH, YES WE DO, SIR.
AND, UM, IT'S REALLY A VERY DIVERSE RANGE OF FOLKS.
SO FOLKS WHO ARE PART OF OUR AFFORDABLE HOUSING SORT OF DEVELOPING ECOSYSTEM, BOTH PRIVATE AND NON-PROFIT.
UH, WE HAVE FOLKS REPRESENTED FROM ADVOCACY GROUPS, UH, FOCUSED ON FAIR HOUSING OR DENSE RIGHTS.
UM, SO IT'S A VERY DIVERSE BOARD OF DIRECTORS THAT WE'RE WORKING ON.
NEXT QUESTION, SANTIAGO, I THINK THE DETAIL IN YOUR PRESENTATION, DID I UNDERSTAND THAT YOU HAVE A SIX AND A HALF TIMES MULTIPLIER ON EACH BOND DOLLAR? UM, YES.
SO ESSENTIALLY AT THIS POINT WHERE WE ARE, IS IT FOR EVERY ONE VOTER APPROVED DOLLAR, WE'RE ABLE TO LEVERAGE ANOTHER SIX AND A HALF DOLLARS FROM OTHER SOURCES.
THIS INCLUDES, UM, DOLLARS FROM HUD FROM THE LOW INCOME HOUSING TAX CREDIT, WHICH IS MANAGED BY THE STATE, BUT IS A FEDERAL PROGRAM.
IT ALSO INCLUDES, UH, PHILANTHROPIC PARTNERS, UM, THAT PUT IN MONEY.
IT INCLUDES JUST REGULAR INVESTMENT THAT GOES INTO THESE PROJECTS AS WELL.
SO YES, THERE'S SIX AND A HALF OTHER, UH, DOLLARS TO EVERY $1 IN VOTER APPROVED FUNDING.
DO YOU KNOW HOW THAT BENCHMARKS AGAINST OTHER BOND DOLLARS THAT ARE SPENT? I I, I DO NOT KNOW, SIR.
I DO, I DO NOT KNOW THE OTHER BOND PROGRAMS AS WELL.
I I WONDER IF OUR STAFF WOULD HAVE A BETTER RESPONSE TO THAT.
ONE THING THAT I'LL SAY TO THAT IS WE'RE VERY PROUD OF THAT NUMBER.
UM, THE ONLY CHALLENGE IS IT HAS BEEN HARD TO MAINTAIN THAT JUST BECAUSE, UM, THE COST OF LAND HAS GONE UP SO SIGNIFICANTLY.
WE WERE CLOSER TO SEVEN IN PAST YEARS.
AND WITH ALSO THAT FOCUS OF TRYING TO MOVE TO HIGH OPPORTUNITY AREAS MEANS THAT WE'RE TRYING TO BUILD IN MUCH MORE EXPENSIVE PARTS OF OUR CITY.
UM, BUT YES, THAT, THAT NUMBER IS SOMETHING THAT WE'RE ABLE TO LEVERAGE IN A REALLY BIG WAY.
UH, DO YOU HAPPEN HAVE THE DATA ON LIKE WHAT THE AVERAGE AMOUNT OF, UH, FUNDING IS FOR EACH PROJECT? IS IT 2 MILLION, IS IT 6 MILLION? UM, I DO NOT BECAUSE IT VARIES QUITE SIGNIFICANTLY.
UM, WE, I, I WOULD NOT KNOW BECAUSE THE NUMBER HAS CHANGED AGAIN, BECAUSE COVID-19 HAS REALLY THROWN OUR HOUSING MARKET INTO A BIT OF A CHALLENGE HERE, JUST NOT JUST IN AUSTIN, BUT AROUND THE NATION AND FRANKLY, GLOBALLY.
BUT WE'RE REALLY, WE DO CAP THE PER UNIT SUBSIDY THAT A PROJECT GETS, AND I WON'T REMEMBER OFF THE TOP OF MY HEAD AND OUR STAFF COULD SPEAK BETTER TO IT'S, UH, ESSENTIALLY BELOW A HUNDRED K RIGHT NOW PER UNIT.
AND IF YOU DO SORT OF THAT ROUGH MATH CALCULATION OF HOW MANY UNITS WE'VE CREATED AND HOW MUCH DOLLARS WE'VE ACTUALLY SPENT IN THE DEVELOPMENT OF HOUSING, NOT JUST ACQUISITION, UM, IT COMES TO ESSENTIALLY LESS THAN $50,000 PER UNIT IS, UH, WHAT OUR EXPEND RATE IS.
UM, GOING BACK TO THE, THE UNITS AND UH, AND PROGRAMS. YOU MENTIONED EARLIER THAT SEVERAL HOTELS WERE PURCHASED.
UM, CAN YOU CONFIRM HOW MANY AND WHAT THE, UM, CURRENT STATUS OF THOSE ARE? ARE THEY, UH, BEING OCCUPIED RIGHT NOW OR ARE THEY BEING DEVELOPED? ARE THEY, YOU KNOW, WHERE IN THE FOOD CHAIN ARE THEY A MIX? UM, UM, COMMISSIONER, SO THERE'S THREE THAT WERE PURCHASED USING THE BOND DOLLARS.
THERE WERE MORE THAT WERE PURCHASED FOR THE OVERALL FUNDING THAT THE CITY HAD.
UM, THIS WAS PART OF SORT OF A NATIONWIDE EFFORT DURING THE COVID-19 PANDEMIC, AS THE HOTEL IN AND MOTEL INDUSTRY, UM, WAS STRUGGLING TO MAKE AMENDS MEET, THERE WAS AN ABILITY TO PURCHASE, UH, THOSE PROPERTIES AT A MUCH LOWER RATE THAN WE WOULD'VE BEEN ABLE TO PURCHASE OTHERWISE.
UM, AND SO WE WERE NOT THE ONLY, UH, CITY OR STATE IN THE NATION TO DO THAT.
THERE WERE OTHER CITIES AND STATES THAT DID IT TOO.
SO THERE WERE THREE THAT WERE PURCHASED.
[00:40:01]
A MIX OF, SOME ALREADY HAVE PEOPLE IN THEM, SOME ARE GOING THROUGH REFURBISHMENT.I WOULD NOT KNOW THE EXACT, UM, UM, SORT OF TIMELINES ON IT.
IF FOLKS ARE INTERESTED, WE CAN CHECK IN AND GET BACK TO YOU ON THAT.
WHAT I WOULD SAY ON THAT IS THAT IT WAS PARTIALLY, AS I SAID, DELAYED BECAUSE OF THE COVID-19 PANDEMIC, BECAUSE WE WERE USING A LOT OF THE HOTEL MOTEL.
UM, I DON'T KNOW WHICH ONES EXACTLY, BUT WE'RE USING THEM AS PRO LODGES.
SO FOR EXAMPLE, WHEN WE HAD, UM, NURSES AND MEDICAL STAFF AT OUR HOSPITALS WHO NEEDED QUARANTINING FROM THEIR FAMILIES, WE OFFERED THEM THESE SPACES.
SO THERE, IT TOOK A LITTLE BIT OF TIME TO CONVERT THEM INTO PERMANENT SUPPORTIVE HOUSING BECAUSE PARTIALLY WE WERE USING THEM AS AN EMERGENCY, UM, HEALTH RESPONSE.
I WOULD LIKE TO KNOW HOW MANY UNITS, THOSE THREE APARTMENT COMPLEX, UM, OR HOTELS REPRESENT, AND HOW MANY ARE CURRENTLY OCCUPIED AS ATTENDED, AND HOW SOON THE OTHER UNITS WILL BE AVAILABLE FOR USE.
I APPRECIATE THAT COMMISSIONER AND I CAN DEFINITELY WORK WITH, UM, YOUR COMMISSION LIAISONS AND STAFF TO ENSURE THAT WE GET THAT INFORMATION TO YOU FROM OUR, UM, SO ESSENTIALLY THIS WORK IS OVERLOOKED BY THE AUSTIN HOUSING FINANCE CORPORATION, SO A HFC, UM, WHICH OF COURSE, THE CITY COUNCIL SERVES AS THE BOARD OF OUR CORPORATION.
AND IT'S STAFFED, UH, PARTIALLY THROUGH OUR HOUSING STAFF.
SO WE CAN CHECK IN AND MAKE SURE THAT YOU HAVE THAT INFORMATION.
QUESTIONS? I WANNA GO BACK TO THE HOUSING BLUEPRINT.
UM, AND YOU MENTIONED THE DIFFERENT CATEGORIES.
MY, MY UNDERSTANDING IN MY MEMORY FROM THE LAST TIME I LOOKED, THE LOWEST CATEGORY IS 30% AND BELOW THAT IS CORRECT.
I ALSO BELIEVE THAT WE'RE THE FURTHEST BEHIND IN REACHING OUR GOAL.
DO YOU HAVE, DO YOU KNOW OFFHAND HOW, HOW FAR BEHIND WE ARE IN REACHING THAT GOAL? AND DO YOU HAVE ANY IDEA WHAT THE WHY? I I DO NOT KNOW THE DATA OFF THE TOP OF MY HAND.
I WILL SAY YOU'RE CORRECT THAT THAT IS WHERE WE ARE BEHIND THE MOST.
AND THAT IS ALSO, I WILL JUST SAY WE'RE SIGNIFICANTLY BEHIND.
I'M NOT A HUNDRED PERCENT, I DON'T HAVE THE DATA IN FRONT OF ME.
WHAT I WILL SAY TO IT IS, THERE'S A FEW CHALLENGES THAT COME AT THAT 30% MEDIAN FAMILY INCOME.
SO AGAIN, BEAR WITH ME FOR A LITTLE BIT OF A WONKY ANSWER, WHICH IS WHEN YOU GO BELOW THAT 30% MEDIAN FAMILY INCOME, NOT ONLY DO MOST HOUSING PROJECTS NEED ESSENTIALLY, UM, CAPITAL FINANCING, SO WHAT WE CAN DO TO OUR BONDS, BUT THEY USUALLY NEED AN OPERATIONS AND MAINTENANCE SUBSIDY THAT KIND OF LIVES THROUGH THE LIFETIME OF THE PROJECT.
THE SIMPLE POINT IS THAT ONCE YOU GO BELOW THAT, THE RENT THAT'S COMING IN FROM THE RESIDENTS IS JUST NOT ENOUGH TO MAINTAIN AND OPERATE THE HOUSING, RIGHT? SO IF YOU REMEMBER THE OLD PUBLIC HOUSING CRISIS THAT THIS NATION FACED, IT WAS PARTIALLY EXACTLY THAT, RIGHT? AN ELEVATOR BREAKS DOWN, WELL, THERE'S NO FUNDING, SO YOU CAN'T FIX IT, YOU KNOW, SOMETHING ELSE.
SO, AND THAT'S NOT WHAT WE WANT.
WE WANT PEOPLE TO LIVE IN GOOD QUALITY HOUSING REGARDLESS OF THEIR INCOME LEVEL.
AND SO WHAT WE'RE DOING IS WE ESSENTIALLY PROVIDE SOME DEGREE OF O AND M, UM, OR OPERATIONS AND MAINTENANCE SUBSIDY THAT GOES ALONG WITH IT.
SO THAT MAKES IT MUCH MORE CHALLENGING.
'CAUSE NOW YOU'RE PROVIDING CAPITAL FINANCING AND THEN YOU'RE PROVIDING, UM, UH, SOME O AND M AS WELL.
THE THIRD CHALLENGE OF THIS, AND I KNOW THERE'S FOLKS HERE WHO CAN SPEAK SO MUCH MORE ELOQUENTLY TO THIS, IS A LOT OF TIMES WHAT PEOPLE WE'RE SERVING.
THERE ARE PEOPLE WHO ARE EITHER FORMALLY UNHOUSED OR WHO MIGHT BE AT RISK OF BEING UNHOUSED.
UM, IT CAN ALSO INCLUDE, UM, YOU KNOW, JUST PEOPLE WHO LIVED IN CHRONIC POVERTY OVER THEIR LIFETIME.
AND SO NOT NECESSARY, BUT A LOT OF THOSE FOLKS MIGHT NEED SERVICES, UH, SUPPORT SERVICES AS WELL.
SO NOW WE'RE TALKING ABOUT A THIRD STREAM OF FUNDING THAT HAS TO LIVE THROUGH LIFETIME OF THE PROJECT, WHICH IS SUPPORT SERVICES.
AND THIS CAN BE ANYTHING FROM, UM, YOU KNOW, HEALTH SERVICES, UM, TO FINANCIAL LITERACY TO AFTER SCHOOL CLASSES.
SO THAT MAKES THESE PROJECTS MUCH, MUCH MORE DIFFICULT TO DO.
AND THE SUBSIDY REQUIRED OVER THE LIFETIME OF THESE UNITS IS MUCH HIGHER.
UM, SO THERE'S SORT OF STRUCTURAL REASONS THAT MAKE IT MUCH HARDER TO PRODUCE THOSE UNITS, BUT YOU'RE CORRECT IN THAT WE ARE BEHIND ON THAT, UM, ON THAT NEED.
AND I'LL, UH, WITH THE UNDERSTANDING THAT HONESTLY, THERE IS A SIGNIFICANT AMOUNT OF FOLKS IN OUR COMMUNITY WHO WOULD BE ELIGIBLE WITHIN THAT.
SO WHERE DOES THAT FUNDING COME FROM? UM, A MIX OF THINGS, AND I WILL SAY I FEEL LIKE OUR STAFF COULD, UH, THE CITY STAFF COULD SPEAK SO MUCH BETTER TO THIS THAN I COULD.
UM, BUT FOR AN EXAMPLE, UH, WE HAVE PLACE-BASED RENTAL ASSISTANCE.
SO PBRA DOES THE O AND M FUNDING, LOCAL VOUCHERS THAT COME FROM A HOUSING TRUST FUND, UM, PARTIALLY FUND FOR THINGS LIKE THAT.
AND THEN IN THE PAST, UH, YEARS, SPECIFICALLY PAST FEW YEARS, WE'VE BEEN USING FUNDS FROM THE AMERICAN RESCUE PLAN ACT, UM, TO SUPPLEMENT SERVICES AND OTHER FUNDING AS WELL WITH THE CLEAR UNDERSTANDING THAT, UM, THAT MONEY HAS TO BE, AND THERE'S A, THERE'S A DISCUSSION STILL WHETHER IT'S EXPENDED
[00:45:01]
OR ALLOCATED, BUT WE ARE COMING ONTO THAT CLIFF IN THE END OF 2024 BECAUSE THE ARPA FUNDS ARE SUPPOSED TO, UM, THERE'S A POTENTIAL THAT THEY MIGHT, WE MIGHT NEED TO RETURN TO THE FEDERAL GOVERNMENT IF WE NOT USE THEM REGARDLESS.WE WILL NOT HAVE NEW FUNDS AVAILABLE STARTING NEXT YEAR FOR THAT WORK FROM THAT POT OF MONEY.
BUT IT'S USUALLY GENERAL FUND, OUR HOUSING TRUST FUND AND THEN WORKING WITH OUR HOUSING AUTHORITIES AND OTHER PARTNERS.
A FOLLOW UP QUESTION ON THAT FUNDING, UM, ISN'T THERE FUNDING AVAILABLE THROUGH THE TRAVIS COUNTY METROPOLITAN HEALTH DISTRICT OR CENTRAL HEALTH FOR SUPPORTIVE, UM, SERVICES AND WRAPAROUND SERVICES? UM, YES, THERE IS.
AND I THINK WE DO GET SOME, UM, SERVICES THROUGH THAT.
IT'S ALSO INTEGRAL CARE, UM, WHICH IS, YOU KNOW, NOT CENTRAL HEALTH.
IT'S ESSENTIALLY TECHNICALLY TRAVIS DY, UM, THEY PROVIDE SOME MENTAL HEALTH SERVICES AS WELL.
SO THOSE KIND OF SERVICES COME FROM THERE AS WELL.
BUT THEN I'M THINKING, YOU KNOW, FOR EXAMPLE, UM, THERE'S HU DOLLARS THAT COME DOWN AS WELL.
SO FOR EXAMPLE, FAMILY ELDER CARE PROVIDES SOME SPECIFIC FUNDING, UH, FOR SENIORS.
UM, THE AUSTIN YEAR URBAN LEAGUE HAS SOME FUNDS THAT SPECIFICALLY GO INTO THAT.
AGAIN, IT'S SORT OF, I HATE TO SAY IT, IT'S SORT OF LIKE A COBBLE TOGETHER BECAUSE WE KNOW THAT THE NEED FOR SOME OF THIS FUNDING IS REALLY SIGNIFICANT.
DO YOU KNOW OF A PLAN
SO I LOOK AT THE SMART PEOPLE IN THIS ROOM, UM, TO HELP US FIGURE THAT OUT.
I KNOW THAT THERE'S A, THERE ARE VERY SERIOUS CONVERSATIONS.
OUR, UH, STAFF, UM, INTERIM CITY MANAGER, GARZA, THAT I KNOW, COUNCIL MEMBERS AND THE MAYOR, UM, HIMSELF, THEY'RE ALL THINKING ABOUT THIS VERY SERIOUSLY.
AND AGAIN, AS CHALLENGING AS THIS SORT OF LANDSCAPE IS, WE'RE CERTAINLY NOT THE ONLY CITY IN THE NATION THAT'S FACING THAT.
'CAUSE THOSE AMERICAN RESCUE PLAN ACT FUNDS WENT TO EVERY COUNTY AND CITY IN THE NATION.
AND ONE THING I'LL SAY, AND THIS IS SORT OF MY ADVOCACY SORT OF HAT, UM, WHICH IS IT'S SOMETIMES HARD TO EXPLAIN TO PEOPLE.
I THINK AS A CITY WE SHOULD BE PROUD OF WHAT WE ARE DOING FOR FOLKS IN OUR COMMUNITY AND HELPING, AND I'M VERY PROUD OF OUR VOTERS FOR DOING THAT WORK AS WELL.
BUT REALLY IT'S VERY HARD TO DO THIS WORK WITH THE ABSENCE OF MORE FEDERAL AND STATE SUPPORT.
UM, SO OTHER STATES HAVE MORE AFFORDABLE HOUSING FUNDS AND STATE HOUSING TRUST FUNDS.
THE STATE OF TEXAS DOES NOT HAVE THAT.
UM, AND SIMILARLY, FEDERAL GOVERNMENT FUNDING, APART FROM THE AMERICAN RESCUE PLAN ACT, UH, IN SORT OF THE COVID-19 EMERGENCY FUNDING, WE HAVE NOT SEEN SIGNIFICANT EXPANSIONS IN THIS AREA, UM, SINCE HONESTY, THE 2008 FINANCIAL CRISIS QUESTIONS.
I HAVE ONE LAST QUESTION THEN, ABOUT THE AMOUNT OF THESE BONDS THAT GOES TO THE HOME REPAIR PROGRAM.
YOU MENTIONED THAT THERE WAS LESS SPENT DURING COVID.
DO YOU KNOW HOW MUCH WAS LESS? I KNOW THAT ONE OF THE ISSUES THAT ONE OF THE RECOMMENDATIONS THAT COMMISSION ON AGING IS CONSIDERING IS ASKING FOR AN INCREASE IN THAT ALLOCATION FOR GEO HOME, THEIR GEO HOME REPAIR PROGRAM.
UM, SO I WOULD NOT KNOW EXACTLY WHAT THE DOLLAR AMOUNT, WHAT I WOULD SAY IS THAT WE SORT OF ESSENTIALLY TOOK AN INTAKE PAUSE FOR A WHILE, UM, JUST FROM THE HEALTH CONCERNS.
UM, BECAUSE IT WASN'T LIKE A REGULAR CONSTRUCTION INDUSTRY, IT'S, IT'S, PEOPLE MIGHT STILL BE LIVING AND INHABITING THOSE HOMES.
UM, BUT AT THE SAME TIME, WE'VE PRETTY MUCH AMPED IT UP AGAIN.
SO THE PROGRAM IS FULLY FUNCTIONAL.
IT'S DONE THROUGH WHAT IS CALLED OUR GO REPAIR.
WE HAVE A COALITION, A HOME REPAIR COALITION, WHICH IS FORMED OF 67 PARTNERS.
IT INCLUDES MEALS ON WHEELS, EASTERSEALS, AUSTIN, HABITAT FOR HUMANITY, AUSTIN, AND URBAN LEAGUE.
UM, AND SO THOSE PARTNERS ARE BEGINNING TO ESSENTIALLY ROLL THAT OUT PROGRAM FULLY AGAIN AND AGAIN, IT WAS FUNDED AS PART OF THE AUSTIN HOUSING FINANCE CORPORATION, UH, BUDGET LAST YEAR, UH, AS COUNCIL APPROVED THEIR CAPITAL FINANCING BUDGET.
BUT IT CAME OUT OF THE AFFORDABLE BONDS, RIGHT? YES.
WITH A CAVEAT THAT MOST OF IT COMES FROM OUR GOBERT FUNDS, UH, GORE BEAR BONDS, SORRY.
THERE'S A SMALL AMOUNT THAT COMES FROM FEDERAL HOME ACT DOLLARS, UM, AND SOME FROM OTHER SOURCES AS WELL.
SO THERE'S SOME SPECIFIC EARMARKED FEDERAL DOLLARS, BUT THE LINE SHARE COMES FROM OUR, UH, GENERAL OBLIGATION BONDS.
[3. Discussion of feedback on the Municipal Capital Project Public Dashboard presented January 17, 2024]
ON OUR AGENDA THEN IS THE DISCUSSION ON THE CAPITAL PROJECT, PUBLIC DASHBOARD.UH, WE'RE YOU GONNA BRING US UP TO DATE OR? I, I AM WAITING FOR THE SLIDE TO CHECK.
I HAVE TWO PRETTY SHORT UPDATES, UH, FOLLOW UP FROM OUR DISCUSSION LAST MONTH, AND THEN WE'RE GOING TO SET ASIDE
[00:50:01]
SOME TIME TO TALK ABOUT THAT, UM, THAT THIRD TOPIC.SO, UM, ACTUALLY ONE QUICK FOLLOW UP THOUGH FOR, UM, FOR THE QUESTION ABOUT THE MULTIPLIER THAT OUR PARTNERS IN THE HOUSING COMMUNITY ENJOY, UH, THAT SIX POINT A HALF PERCENT FOR OUR PUBLIC IMPROVEMENT BONDS, WE UNFORTUNATELY DON'T HAVE THOSE RESOURCES TO TAP INTO.
UM, WE, THE CITY IS TRYING TO AGGRESSIVELY PURSUE ANY FEDERAL, STATE BONDS THAT ARE OUT THERE, GRANTS OR NOT BONDS, GRANTS RATHER, UM, THAT WE CAN LEVERAGE.
BUT TYPICALLY, I'M THINKING OF OUR CORRIDOR PROJECT RIGHT NOW WITH ABOUT A HUNDRED MILLION DOLLARS OUTSTANDING, MAYBE 10 TO 15 MILLION OF OPPORTUNITIES ARE THERE.
SO, UM, WE'RE AN ORDER OF MAGNITUDE LOWER, UM, AND OPPORTUNITIES TO LEVERAGE.
UH, IF WE COULD HIT ONE AND A HALF, THAT WOULD BE SPECTACULAR.
SO IT'S A, IT'S A FRACTIONAL, UM, INCREASE.
UM, BUT WE, WE'D CERTAINLY BE OPEN TO ANY OPPORTUNITIES AND WE TRY TO PURSUE THEM AS MUCH AS POSSIBLE.
BACK TO BACK TO THE AGENDA FOR THE CAPITAL PROJECTS DASHBOARD.
SINCE WE TALKED LAST MONTH, UM, WE WERE FORTUNATE WITHIN THE, UM, CAPITAL DELIVERY SERVICES DEPARTMENT TO HAVE A QUICK PRESENTATION BY OUR OWN IT STAFF.
AND THEY HAVE STARTED THE BALL ROLLING.
UM, I SHARED, OR WE SHARED WITH THE COMMISSION LAST MONTH, A, UM, AN EXAMPLE THAT THE CITY OF DALLAS USES.
IT'S A MUCH MORE USER FRIENDLY, UM, INTERFACE, AND IT'S A LOT CLEANER THAN WHAT WE HAVE RIGHT NOW.
OUR TEAM, UM, WAS ABLE TO BUILD THAT FRAMEWORK.
IT IS IN VERY, VERY EARLY DEVELOPMENTAL STAGES, BUT JUST AS A PROOF OF CONCEPT, UH, WE WERE HAPPY TO SEE IF THEY WERE ABLE EVEN ABLE TO GET THAT, UM, THAT FRAMEWORK STOOD UP.
OVER THIS NEXT YEAR, WE'LL BE WORKING TO BUILD THAT OUT.
AND MY, MY PLAN IS TO GIVE THIS, UH, THIS GROUP UPDATES AS THAT COMES ALONG.
HOPEFULLY SOMETHING THAT'S AVAILABLE, UM, MAYBE LATER THIS YEAR.
WE WILL PROBABLY GO THROUGH A, YOU KNOW, A DEVELOPMENTAL ENVIRONMENT FIRST BEFORE WE ROLL ANYTHING OUT TO THE PUBLIC.
BUT I'LL, I'LL CERTAINLY KEEP Y'ALL INFORMED.
BUT BEFORE WE GO OFF THE TOPIC ENTIRELY, I KNOW SOME OF THE INPUTS WE GOT LAST MONTH WERE, UM, FEATURES OF A, A DASHBOARD THAT WOULD BE USEFUL TO THIS GROUP OR TO THE PUBLIC WOULD BE THAT, UM, SORTABLE OR FILTERABLE ABILITY WHERE YOU COULD AGGREGATE THE TYPES OF PROJECTS YOU WANTED TO LOOK AT.
SO THAT'S SOMETHING THAT WE, WE ARE GONNA ENSURE GOES INTO THAT DEVELOPMENT.
AND THE OTHER THING THAT I TOOK NOTE OF, UM, LAST DISCUSSION WAS THAT WE WANT, AS CLOSELY AS POSSIBLE THE, THE DATA THAT'S PRESENTED IN THAT DASHBOARD, EVEN IF IT'S A SIMPLIFIED VERSION TO BE TIED TO THE, UM, PROJECT MANAGEMENT DATABASE THAT OUR ENGINEERS, OUR PROJECT MANAGERS, ARE ACTUALLY USING.
SO THERE'S A, AS CLOSE AS POSSIBLE TO REAL TIME UPDATE TO, TO WHAT'S AVAILABLE.
SO I WOULD OPEN UP TO ANY FURTHER SUGGESTIONS IF ANYONE'S THOUGHT OF ANYTHING OVER THE PAST MONTH, BUT IF NOT, I'LL, I'LL JUST COMMIT TO KEEPING THE GROUP UPDATED AS THIS, UM, AS THIS NEW PLATFORM IS DEVELOPED AND WHEN WE HAVE AN OPPORTUNITY TO SHARE OUR PROGRESS, WE'LL, WE'LL CERTAINLY BRING IT TO THE COMMISSION.
UH, I JUST WANTED TO VERIFY, UM, LIKE AS FAR AS LIKE THE SORTABLE, FILTERABLE KIND OF THINGS THAT YES, THAT INCLUDES LIKE THIS, THE, KINDA LIKE THE SITUATION THAT WAS, UH, DESCRIBED, UH, LAST MONTH WHERE, YOU KNOW, BEING ABLE TO CATCH THINGS THAT HAVE LAPSED OR WE'RE GOING TO TALK TO AS WELL.
AND THAT, THAT IS A PERFECT SEGUE TO MY NEXT, UM, SHORT UPDATE.
UH, COMMISSIONER REN ASKED A VERY GOOD QUESTION, UM, WHAT'S THE LEVEL OF EFFORT IT WOULD TAKE TO DEVELOP A REPORT THAT WOULD, IN, THAT WOULD FLAG THE PROJECTS THAT ARE CONSIDERED LATE? AND I WAS UNFORTUNATELY A LITTLE TOO OPTIMISTIC LAST MONTH WHERE I THOUGHT THAT WOULD BE, UM, A READILY AVAILABLE REPORT THAT WE COULD RUN THAT, UM, WITHOUT A LOT OF DEVELOPMENT.
WHAT I FOUND OUT, UH, SINCE THEN, AND IT'S ACTUALLY, I'M GLAD THAT I HAD THAT DISCUSSION BECAUSE I THINK IT'S A SHORTFALL IN OUR REPORTING CAPABILITY IS WHAT I HAVE HERE.
GAPS IN HISTORIC DATA IS PROBABLY NOT ACCURATE.
WHAT WE DON'T HAVE IS A REPORT THAT TIES TOGETHER THE TWO DIFFERENT DATES THAT WE'RE INTERESTED IN.
SO THERE'S THE ORIGINAL, UM, BASELINE OF THE PROJECT SAYING, HERE'S WHEN WE ARE PROJECTED TO GO TO FINISH DESIGN, GO TO CONSTRUCTION PROJECT COMPLETE.
THERE'S ALSO THE DATES THAT ARE PROJECT MANAGERS ARE UPDATING IN REAL TIME AS THE PROJECT PROGRESSES THROUGH DESIGN PROCUREMENT.
WE DON'T HAVE ANY REPORT THAT FOR OUR HUNDREDS OF CAPITAL PROJECTS OR, OR BOND FUNDED PROJECTS THAT ACTUALLY COMPARES THOSE TWO.
SO IT COULD GENERATE WHERE THERE'S A MISMATCH, WHERE WE'RE BEHIND, WHERE WE PROJECTED.
SO IT'S SOMETHING WE'RE GONNA HAVE TO BUILD OUT.
UM, IT, IT'S DEFINITELY SOMETHING I WANNA HAVE JUST INTERNALLY FOR MY, MY
[00:55:01]
OWN, UM, DEPARTMENT'S ACCESS.AND I WANNA DO IT BOTH IN TERMS OF, UM, SCHEDULE MISMATCH OR SCHEDULE VARIANCE AND ALSO COST VARIANCE.
SO MY PROJECT CONTROLS TEAM IS LOOKING AT HOW THEY CAN DEVELOP THAT AND I'LL, I'LL KEEP THAT AS AN ACTION ITEM TO REPORT BACK TO THE COMMISSION AS I'M ABLE TO DEVELOP IT.
BUT I UNFORTUNATELY CAN'T GIVE YOU THAT REPORT TODAY AT TODAY'S MEETING.
BUT I, I WILL CONTINUE TO TRACK IT.
SO CAN I ASK WHAT THE, WHAT THE SPECIFIC MILESTONES ARE THAT ARE IN CAPRI? THIS IS, THIS INFORMATION IS IN E CAPRI, RIGHT? IT IS.
SO WE, WE TRACK THE INFORMATION THAT SHOULD GO INTO A NEW PROJECT AS IT'S DEVELOPED ARE TARGETS FOR, UM, 30, 60, 90% DESIGN, UM, DESIGN, COMPLETE DATE.
THERE SHOULD BE A, UM, ESTIMATED DATE FOR THE PROJECT TO BE AWARDED.
AND THEN THERE SHOULD BE CONSTRUCTION MILESTONES AS WELL AS A SUBSTANTIAL COMPLETION OR COMPLETION DATE.
AND THEN A PROJECT CLOSEOUT, SO A SERIES OF MILESTONES, UM, DOING AN INITIAL LOOK AT SOME OF OUR PROJECTS, JUST SORT OF A RANDOM CHECK.
THERE ARE PROJECTS THAT DON'T HAVE ALL OF THAT DATA AT THE TIME THE PROJECT'S CREATED.
SO SOME OF IT IS REFINED OR SOME OF THOSE FIELDS ARE ADDED AS THE PROJECT PROGRESSES.
SO THAT'S A SENSE OF WHAT WE'RE ABLE TO TRACK.
YEAH, THAT WAS MY NEXT QUESTION.
WHEN, WHEN DO THOSE MILESTONES GO IN? DEPENDING ON THE, THE COMPLEXITY, THE SCOPE OF THE PROJECT, UM, SOMETIMES THOSE CONSTRUCTION DATES AREN'T COMPLETELY FILLED OUT UNTIL THE PROJECT'S FURTHER ALONG IN THE DESIGN PHASE.
SO WE, WE HAVE A BETTER SENSE OF WHAT IT'S GONNA TAKE TO BUILD IT OUT, HOW LONG IT'S GONNA TAKE FOR SIMPLER PROJECTS, UM, PROJECTS THAT ARE IDIQ, UM, INDEFINITE DELIVERY, INDEFINITE QUANTITY, SORT OF JUST PULLING A, A PROJECT OFF A PRE PRICED, UM, LIST WHERE WE JUST SAY, HERE'S THE QUANTITY.
SO SOME OF OUR ROADS OR SIDEWALKS, PROJECTS LIKE THAT.
SO THE, THE SIMPLER THE PROJECT, THE MORE OF THOSE DATES WE CAN PRE-POPULATE THE MORE COMPLEX PROJECTS.
WE GENERALLY HAVE A GOOD SENSE OF THE, THE DESIGN STAGE, HOW LONG THAT SHOULD TAKE, AND THE PROCUREMENT, WE CAN PUT A BALLPARK IN BASED ON THE, THE TOTAL COST AND SCOPE OF THE PROJECT.
BUT WE REALLY WON'T HAVE A FINAL, UM, SET OF THOSE MILESTONES UNTIL FURTHER ALONG THE DESIGN PROCESS.
BUT IN, SO PUTTING THESE MILESTONES IN THE CONTEXT OF BOND ELECTION, BOND SALE, DOES ANYTHING EVER GO TO A BOND SALE WITHOUT MILESTONES? I CAN'T SPEAK TO WHAT WAS DONE IN THE PAST.
I KNOW AS WE'RE CONSIDERING, UM, THE, THE LEVEL OF, UM, COMPLETENESS WE WANT OUR PROJECTS, ANYTHING THAT'S GONNA GO TO A BOND SALE, WE, THERE'S GONNA BE A LOT MORE PRELIMINARY WORK UPFRONT.
SO A PROJECT THAT GOES THAT, WE'LL CALL IT A TOLLGATE, BUT A SORT OF A CHECKLIST.
SO WE COULD SAY, THIS WILL BE, WE CAN COMMIT TO FIVE YEARS START TO FINISH, OR WHATEVER THE CASE MAY BE.
SO THAT'S, THAT'S A FUTURE DEVELOPMENT.
WHEN A PROJECT GOES ON A BOND ELECTION, WHAT MILESTONES EXIST? UH, SCHEDULE MILESTONES.
UM, I KNOW LOOKING AT, AGAIN, I'M, I'M FAMILIAR WITH SOME OF OUR QUARTER PROJECTS FROM THAT PROGRAM, FROM THE 2016 BOND.
AND THOSE MILESTONES WERE NOT COMPLETE AT THE TIME OF THE BOND ELECTION.
UH, IN FACT, SOME OF THOSE WERE NOT COMPLETED TILL 2018 AS THE SCOPE WAS FINALIZED, UM, POST-ELECTION.
SO THE, THE LARGE REQUIREMENT WAS INTACT, BUT HOW IT WOULD ROLL OUT AND BE EXECUTED AND WHAT THOSE MILESTONES WERE GONNA BE WAS NOT, UM, FINALIZED CERTAINLY AT THE, AT THE TIME THE BOND WAS APPROVED.
SO OBVIOUSLY WHAT WE'RE SORT OF LEADING INTO IN THIS DISCUSSION IS THE NEXT DISCUSSION ABOUT HOW WE, HOW WE MONITOR THE CAPITAL PROGRAM AND WHAT INFOR WHAT INFORMATION IS AVAILABLE AND WHEN IS IT AVAILABLE, UH, IN COMPARISON TO OTHER THINGS LIKE BOND ELECTIONS, BOND SALES, ET CETERA.
SO WE'LL JUST START OFF ON THE DISCUSSION OF, UH,
[01:00:01]
WHAT I HAVE, WHAT I WOULD PROPOSE AS A WORK PLAN FOR THE, UH, COMMISSION IS THAT WE, HISTORICALLY, WE HAVE FOCUSED OUR ATTENTION ON BOND PROJECTS, AND WE'VE LOOKED AT THEM, UH, MORE OR LESS BY DEPARTMENT, UH, AND WHAT, WHAT KINDS OF PROJECTS THAT DEPARTMENT, UM, HAS ONGOING.AND WHAT I, WHAT I WOULD PROPOSE GOING FORWARD IS THAT WE EXPAND THAT A LITTLE BIT.
UM, NOT THAT WE DON'T DO THAT PART OF IT, BUT THAT WE EXPAND IT A LITTLE BIT TO LOOK AT THE BIGGER PICTURE.
STARTING, FIRST OF ALL, WITH THE BOND SALE SCHEDULE, UM, THE CITY HAS A COUPLE OF FINANCIAL POLICIES, UH, THAT RELATE TO THE BOND SALE.
UH, ONE IS THAT, UH, I THINK BOND, UH, BOND ELECTIONS WILL, SHOULD GENERALLY BE LIMITED TO WHAT CAN BE ACCOMPLISHED IN SIX YEARS.
AND, UM, ANOTHER IS, UM, NEW BOND ELECTIONS SHOULD NOT TAKE PLACE, UM, UNTIL THE CITY IS DOWN TO A TWO YEAR, BASICALLY A TWO YEAR, UH, INVENTORY OF PROJECTS TO BE COMPLETED.
ONE OF THE THINGS THAT I WOULD SUGGEST IS A WAY OF US FOCUSING ON THAT BIG PICTURE, THAT PART OF THE BIG PICTURE.
IT SEEMS TO ME THAT AT ANY GIVEN TIME, THE START OF THE FISCAL YEAR, THAT IS A DETERMINABLE NUMBER.
WHAT IS OUR AUTHORIZED BUT ANIS ISSUE AT THIS POINT IN TIME? AND WHAT WOULD THE BOND SALE SCHEDULE NEED TO BE IN ORDER FOR THAT INVENTORY OF BONDS TO BE EXPENDED IN A SIX YEAR PERIOD? DOES THAT MAKE SENSE IN TERMS OF HOW THE CALCULATION WOULD BE MADE? IT, IT MAKES PERFECT SENSE TO ME.
BUT I GUESS WHAT I'M WONDERING IS, I'M ASSUMING THE CITY FINANCE DOES THIS, AND IT'S, IT'S THEIR POLICY.
WHAT, WHAT'S OUR, WHAT ARE WE LOOKING FOR FROM THAT EXERCISE? I THINK THAT THAT IS A, THAT IS ONE PIECE OF INFORMATION.
SO THE BOND SALES SCHEDULE COMES TO THIS COMMISSION EVERY YEAR.
UM, I DON'T RECALL WHEN THE BOND SALES SCHEDULE WAS DISCUSSED, HAVING THAT PIECE OF INFORMATION, NOT THAT THAT PIECE OF INFORMATION CONTROLS ANYTHING, BUT THAT WOULD GIVE YOU AN INDICATION THAT THE PROPOSED BONDS OR WHATEVER IT IS, EITHER MEETS OR EXCEEDS THAT AVERAGE THAT YOU NEED TO HAVE, KEEP IN MIND.
DOES THAT MAKE SENSE? YEAH, NO, I'M, I'M FOLLOWING THAT.
I'M JUST, I GUESS I'M TRYING TO FIGURE OUT THIS COMMISSION'S ROLE IN CONNECTION WITH THAT.
WE, WHEN WE'VE MET AND TALKED BACK IN THE FALL, UM, SOME OF THE DEBATE WAS, ARE WE FORWARD LOOKING? ARE WE MONITORING WHAT'S OUT THERE? UM, AND I'M JUST, YOU KNOW, IF WE WANT TO PULL THE INFORMATION TOGETHER AND TALK ABOUT IT, SO WE KIND OF HAVE IT WHENEVER THIS POPS UP.
THEY'VE ASKED THE CITY MANAGER TO GO FIGURE OUT WHAT, WHAT THEY EVEN WANT TO DO AND HOW MUCH IT WOULD COST.
SO I DON'T KNOW THAT WE'VE GOT ANYTHING SPECIFIC TO RESPOND TO RIGHT NOW.
AND FRANKLY, I WAS DISAPPOINTED THAT, UH, WE WERE NOT MENTIONED IN THE RESOLUTION AS PEOPLE WHO
SO MAYBE, MAYBE OUR FIRST STEP IS TO ASK THE CITY MANAGER'S OFFICE HOW WE COULD BE, HOW WE COULD HAVE SOME INPUT INTO THE PROCESS.
THAT'S WHERE I'M, I'M, I'M TAKING A STEP BACK FROM WHERE YOU ARE, PROBABLY MR. CHAIRMAN, TRYING TO FIGURE OUT WHAT'S OUR, WHAT'S OUR EFFECTIVE ROLE? NOT WHAT ROLE COULD WE TRY TO PLAY.
I WOULD SUGGEST THAT, YOU KNOW, BASED ON THE, YOU KNOW, MISSION THAT COUNCIL LAID OUT FOR THE BOND OVERSIGHT COMMISSION, THAT ONE OF THE THINGS THAT WE SHOULD PUT ON THE TABLE IS THAT
[01:05:01]
PIECE OF INFORMATION THAT YOUR, YOUR AVERAGE BOND SALE SCHEDULE AT THIS POINT IN TIME SHOULD BE THIS OVER THE NEXT SIX YEARS, AS YOU DETERMINE THROUGH THE BUDGET PROCESS.I MEAN, THERE ARE A LOT OF THINGS THAT IMPACT, AS, YOU KNOW, THE BOND SALE, UM, AS YOU DETERMINE WHAT, UH, BOND SALE YOU ARE GONNA PROPOSE, THIS IS A PIECE OF INFORMATION THAT THAT PROPOSAL NEEDS TO BE COMPARED AGAINST.
IT MAY ALREADY BE PART OF THE DISCUSSION.
I'VE NEVER HEARD IT AS PART OF THE DISCUSSION.
I DON'T REMEMBER HEARING IT AT THIS COMMISSION.
I DON'T REMEMBER IT IN MY PAST EXPERIENCE IN WORKING WITH THE CITY, HEARING IT AS PART OF THE DISCUSSION.
IT DOESN'T MEAN IT DIDN'T HAPPEN, BUT I DON'T REMEMBER, UM, THAT BEING ONE OF THE FACTORS, ONE OF THE PIECES OF INFORMATION THAT WAS AVAILABLE AND COMPARED TO WHAT THE PROPOSAL WAS, I THINK IT SHOULD BE, AGAIN, I'M NOT SAYING, CHARLES, I DISAGREE WITH YOU AT ALL.
I JUST, MY EXPECTATION IS THAT IF IT'S A CITY POLICY, THEN WHEN THE FINANCE DEPARTMENT REPORTS OUT, THEY'RE SAYING, BY THE WAY, HERE'S YOUR POLICY AND HERE'S HOW THIS METRIC APPLIES TO IT.
WHAT YOU'RE SAYING IS WE OUGHT TO GATHER THAT INFORMATION SO WE CAN EMPHASIZE IT.
I DON'T HAVE ANY, I MEAN, I DON'T THINK THERE'S ANY PROBLEM WITH THAT.
I JUST, FROM MY EXPERIENCE, THE WAY THAT I KNOW, THE, THE DISCUSSION THAT I'M AWARE OF IS AFTER THE FACT, THERE'S A REPORT ON WHICH OF THE FINANCIAL POLICIES YOU'RE IN COMPLIANCE WITH AND WHICH ONES YOU'RE NOT.
BUT THAT'S AN AFTER THE FACT PIECE OF INFORMATION.
THE OTHER THING THAT, TO GO UP IF, DOES ANYBODY ELSE HAVE ANY QUESTIONS ABOUT WHERE WE ARE ON THIS? I THINK THIS PIECE IS REALLY SIMPLE.
IT'S JUST A MATHEMATICAL CALCULATION.
AGAIN, I I, I WAS TRYING TO FIGURE OUT WHERE WE'RE, WHERE WE'RE GOING WITH IT, BECAUSE IT IS TAKING US IN A DIRECTION WE TALKED ABOUT IN NOVEMBER, BUT DIDN'T EVER RE COALESCE AROUND WHAT OUR ROLE IS, WHAT OUR MISSION IS, RIGHT? IS IT MONITORING THE BONDS AND WORKING WITH THE DASHBOARD, OR IS IT TRYING TO INFLUENCE IF, WHEN AND THE NATURE OF THE BONDS TO BE PROPOSED, WHICH IS PART OF THE CHARTER, BUT NOT ACTIVELY ENGAGED IN BY THE CITY.
AND I WOULD SAY NOT, HAS NOT BEEN A PART OF WHAT WE'VE BEEN DOING.
SO I, I WANNA MAKE SURE IF WE'RE HEADING THAT DIRECTION, I'M NOT NECESSARILY OPPOSED, BUT IT FEELS LIKE THAT'S A DISCUSSION THAT WE NEED TO HAVE.
I WOULD ASSUME IT'S PROBABLY IN, YOU KNOW, FROM THE BUDGET FROM 2023.
IT'S PROBABLY OUT THERE AND IT COULD BE PULLED QUICKLY.
BUT I'M TRYING TO FIGURE OUT WHERE WE, RIGHT, WHERE WE THINK AS A COMMISSION, WE OUGHT TO GO WITH THAT.
AND I'M NOT MEANING TO BE DIFFICULT.
I'M JUST TRYING TO, SO WHERE I WOULD GO, BUT I'M, YOU KNOW, WHERE I WOULD GO WITH THIS THEN, IS THAT IN OUR WORK PLAN, WHEN WE'RE SCHEDULING PRESENTATIONS, I WOULD LIKE FOR THAT TO INCLUDE FINANCE, UH, AS WELL AS THE DEPARTMENTS THAT WE'VE SEEN IN THE, IN THE PAST.
I'D LIKE, UH, FOR A PRESENTATION FROM FINANCE ON WHAT THAT SECURE BONDS SCHEDULE, AVERAGE BOND SCHEDULE.
SALE SCHEDULE WOULD BE BASED ON OUR CURRENT OUTSTANDING BUT ANIS ISSUE.
SO THAT WHAT, WHAT I'M BUILDING TO IS WHAT PRESENTATIONS DO WE NEED TO START SEEING
THE SECOND PIECE OF IT IS, UM, YOU DON'T WANNA SELL BONDS IF YOU'RE NOT READY TO USE THEM.
YOU DON'T WANT TO SELL BONDS AND HAVE PROCEEDS THAT ARE NOT USED.
SO THE OTHER PIECE THAT I THINK WE NEED TO BE FOCUSED ON IS A MONITORING OF THE OVERALL CAPITAL BUDGET, WHICH SAYS, IN ANY GIVEN YEAR, HERE'S WHAT WE PLAN TO SPEND AND HERE'S WHAT'S AUTHORIZED TO SPEND.
SO THE BOND SALES SCHEDULE AND THE CAPITAL BUDGET SHOULD BE TOGETHER.
NOW THE QUESTION IS, HOW MUCH OF WHAT WE PLAN TO SPEND IN A YEAR ARE WE ACTUALLY
[01:10:01]
SPENDING, WHICH GIVES YOU THE BIG PICTURE OF WHETHER PROJECTS ARE ON SCHEDULE AS ENVISIONED IN THE CAPITAL BUDGET.THAT, AGAIN, AS IN THE PREVIOUS DISCUSSION, THIS MAY BE A PIECE OF INFORMATION THAT ALREADY EXISTS EXIST THAT I'M NOT AWARE OF.
WE'D HAVE TO TALK TO OUR FINANCE, UM, DEPARTMENT PARTNERS AND GET THAT INPUT FROM THEM.
FROM MY EXPERIENCE, I, IN THE PAST, I DON'T KNOW IF IT'S STILL DONE, THERE IS A MONTHLY REPORT THAT LOOKS AT THE OPERATING BUDGET AND EACH MONTH SAYS, YOU KNOW, HERE'S THE REVENUE AND HERE ARE THE EXPENDITURES IN THE BUDGET, AND HERE'S WHAT WE'VE DONE TO DATE, AND HERE'S WHERE WE ESTIMATE NOW THAT WE'LL BE AT THE END OF THE YEAR.
SO THERE'S A REPORT THAT CONSTANTLY LOOKS AT AN UPDATED VIEW OF WHERE WE EXPECT TO BE AT THE END OF THE YEAR ON THE OPERATING BUDGET.
A SIMILAR REPORT ON THEIR CAPITAL BUDGET WOULD TELL US WHETHER THE OVERALL, NOT PROJECT BY PROJECT, BUT OVERALL, ARE WE SPENDING WHAT WE SET OUT TO SPEND, WHICH WOULD BE AN IN INDICATION THAT THAT PROJECTS WERE IN TOTAL WERE PROCEEDING ON SCHEDULE.
CHAIR, IF I COULD MAKE A COMMENT.
THE, UH, FROM MY PERSPECTIVE AND, UM, WHAT I'VE LEARNED IN THE PAST IS THAT THE CITY USES REIMBURSEMENT RESOLUTIONS.
UM, SO BOND DOLLARS AREN'T SITTING THERE.
UM, BUT I'LL LET STAFF GO BACK AND CONFIRM WHAT THEY'RE DOING TODAY.
BUT THAT'S MY UNDERSTANDING OF, OF HOW THAT'S BEING DONE.
I, AND REIMBURSEMENT RESOLUTIONS DO, UM, THEY CLOUD THE PICTURE A LITTLE BIT IN TERMS OF THE TIMING.
UH, SO WHEN WE DISCUSS THIS WITH FINANCE, WHAT I WOULD, WHAT I WOULD ENVISION THAT DISCUSSION BEING WOULD BE HOW, UM, HOW CAN WE ADJUST LOOKING AT THE CAPITAL BUDGET, UH, VERSUS BOND SALE TO AS AN INDICATOR, AN OVERALL INDICATOR OF HOW WE'RE DOING, UH, IN TERMS OF PROJECTS PROCEEDING AND SCHEDULE.
AND I DON'T KNOW THE ANSWER TO THAT.
THAT WOULD BE SOMETHING I WOULD, WOULD WANT TO GET FROM FINANCE.
SO AGAIN, YOU KNOW, THEN TRANSLATING THIS TO WORK PLAN, UH, WHAT, WHAT THAT, WHAT I'M SUGGESTING IS IN OUR PRESENTATION SCHEDULE, WE SHOULD HAVE FINANCE TALK TO US ABOUT THE BOND SALES SCHEDULE AND ABOUT HOW WE MONITOR AND HOW WE CAN MONITOR THE CAPITAL BUDGET.
THE THIRD PIECE OF THE PUZZLE TO ME IS WHAT STEVEN JUST TALKED ABOUT, AND THAT IS THAT REPORT BY MILESTONE ON HOW PROJECTS ARE DOING.
SO NOW WE'RE GETTING FROM THE BIG PICTURE DOWN MORE TO A PROJECT LEVEL, BUT WE'RE LOOKING AT PROJECTS IN TOTAL AND NOT PROJECTS INDIVIDUALLY.
SO HOW MANY PROJECTS, ONE OF THE MILESTONES IS DESIGN COMPLETION, HOW MANY PROJECTS ARE BEHIND SCHEDULE ON DESIGN COMPLETION? OBVIOUSLY THAT'S A RED FLAG IN TERMS OF WHETHER YOU'RE GONNA BE MAINTAIN THE SCHEDULE FOR THAT PROJECT IF YOU'RE, IF YOU'RE NOT ON TIME TO COMPLETE DESIGN.
HOW HAVE WE ADJUSTED THE SCHEDULE FOR THE SALE OF THOSE BONDS AND THE CONSTRUCTION PART OF THE PROJECT? AND THEN THE LAST PIECE IS THE CONVER CONVERSATION THAT WE'VE BEEN HAVING WITH DEPARTMENTS WHERE WE'RE LOOKING AT INDIVIDUAL, UH, PROJECTS
[01:15:01]
AND, UH, TO A POINT THAT JOHN MADE HEARING FROM THE PEOPLE THAT ARE DOING THIS, THE PROBLEMS THEY ARE ENCOUNTERING IN STAYING ON SCHEDULE.SO YOU'VE GOT FOUR PIECES OF INFORMATION COMING IN, BOND SALE, CAPITAL BUDGET, UM, MILESTONES AND DEPARTMENT PRE PRESENTATION ON PROJECTS, ALL OF THOSE TO GIVE YOU OVERALL, BOTH A PROJECT BY PROJECT PICTURE, AND AT THE SAME TIME MAINTAINING A LOOK AT THE BIG PICTURE OF HOW YOU'RE DOING, UH, WITH YOUR OVERALL CAPITAL PROGRAM.
YOU'VE BEEN THINKING ABOUT THAT.
IS SILENCE A SCENT
UM, AND IT'S BEEN INTERESTING TO THINK ABOUT IT BASED ON MY PAST EXPERIENCE WORKING WITH THE CITY, UH, AND TO REALIZE, UM, HOW MANY OF THOSE QUESTIONS I DON'T HAVE THE ANSWER TO.
AND I WAS THE BUDGET OFFICER AND IT
NOT ONLY DO I NOT KNOW HOW IT WAS DONE THEN, BUT I OBVIOUSLY DON'T KNOW HOW IT'S DONE NOW.
AND I'M SURE HOW IT WAS DONE THEN HAS NOTHING TO DO WITH HOW IT'S DONE NOW.
DOES THAT SOUND LIKE A WORK PLAN? YEAH, I BELIEVE SO.
AND I THINK, I DO THINK THAT THOSE ARE DEFINITELY QUESTIONS THAT WE SHOULD BE ABLE TO ANSWER, ANSWER REGARDING ALL THESE, FOR SURE.
SO I, YOU KNOW, I, I HAVE TALKED TO THE FAN FINANCE DIRECTOR AND I DON'T KNOW THE SCHEDULE RIGHT NOW.
MY HOPE IS THAT WE WOULD BE ABLE TO START WITH THOSE TWO FINANCE PICTURES AT THE NEXT, UH, COMMISSION MEETING.
AND I THINK, I THINK THAT WE, I DON'T KNOW HOW MUCH OF IT WILL BE ANSWERED BY THEN, BUT I THINK WE'LL HAVE A PRESENTATION BY THEN AND WE CAN THEN CARRY ON.
I THINK IT DOES, IT DOES RAISE A QUESTION FOR ME GOING BACK TO WHAT, WHAT STEVEN WAS TALKING ABOUT AS TO WHAT THE SCHEDULE IS ON THE, ON THE MILESTONE PIECE, BECAUSE I JUST THINK THAT PARTICULAR PIECE IS CRITICALLY IMPORTANT.
THERE, THERE ARE SOME, THERE ARE SOME THINGS THAT I THINK WE HAVE ASSUMED THAT ONE OF THE PROBLEMS MAY BE THAT, UM, THAT PROJECT, THAT ITEMS GO ON A BOND ELECTION THAT ARE NOT VERY SOLIDIFIED IN TERMS OF KNOWING WHAT THEY WANT TO DO.
THEY'RE MORE A GENERAL STATEMENT OF SOMETHING WE'D LIKE TO HAVE, BUT THERE'S NOT A VERY GOOD PICTURE OF WHAT THAT IS IN TERMS OF, UM, HOW MUCH IT WOULD COST, WHAT IT WOULD, WHAT THE SCHEDULE WOULD BE.
THOSE PROJECTS THEN BEGIN A PUBLIC PARTICIPATION, PUBLIC INPUT INTO THE DESIGN, WHICH CAN SOMETIMES, UM, EXPAND AND TAKE TIME AND PUBLIC INPUT IS GOOD.
IF WE DISCOVER IN LOOKING AT MILESTONES THAT THIS IS CAUSING, IS CAUSING PROJECTS TO RUN BEHIND, THEN THERE'S SOME RECOMMENDATIONS THAT COULD COME FROM THAT.
ONE RECOMMENDATION MIGHT BE THAT THE PUBLIC PARTICIPATION AND INPUT OUGHT TO COME IN A PROJECT BEFORE IT GOES ON THE, UH, ON THE BOND BALLOT.
UM, THE CITY HAS ALWAYS WRESTLED WITH HOW MUCH OF THE DESIGN COSTS FOR A PROJECT, UH, SHOULD BE SPENT BEFORE THE PROJECT GOES ON THE BALLOT.
AND HOW MUCH, IF, IF YOU'RE GONNA SPEND DOLLARS ON A PROJECT THAT YOU'RE CONSIDERING FOR
[01:20:01]
THE BALLOT, WHERE WOULD THAT FUNDING COME FROM? AND IS, DOES IT MAKE SENSE TO SPEND DOLLARS DESIGNING A PROJECT, UH, BEFORE YOU KNOW WHETHER VOTERS ARE GONNA APPROVE THE PROJECT? UM, SO THESE ARE, THESE ARE THE KINDS OF QUESTIONS THAT WOULD BE BETTER INFORMED IF WE KNEW WHICH MILESTONES WERE CAUSING DELAYS AND FOR WHICH KINDS OF PROJECTS.SO I THINK THAT'S GONNA FOCUS, YOU KNOW, THE, THE STRESS OF, OF ALL THE THINGS THAT WE, THAT I'VE JUST LAID OUT OF ALL THOSE FOUR PIECES, UH, THE ONE THAT I'M LESS CLEAR ABOUT THE TIMELINE FOR THE INFORMATION BEING AVAILABLE TO US IS THE MILESTONES.
AND THAT'S WHAT I WAS ALLUDING TO, THAT WE'RE GONNA TAKE THAT ON AND FIGURE OUT HOW TO BUILD IT.
WE CAN CERTAINLY SHOW AT A HIGH LEVEL, AND I THINK I SHARED A SINGLE EXAMPLE SLIDE LAST TIME OF THE PROJECT HEALTH ASSESSMENTS AT, AS A OVERALL, THE 2016 MOBILITY BOND.
WE CAN SHOW HERE'S THE SPENDING CURVE SO FAR, HERE'S WHERE OUR PLAN WOULD TAKE US AS OF THIS MONTH.
HERE'S WHAT WE'VE ACTUALLY SPENT.
UM, SO WE CAN PRESENT THOSE, BUT THEY DON'T HAVE THAT, UM, GRANULARITY WITHIN THAT SPENDING.
WHERE HAS IT TAKEN PLACE WHERE THOSE MILESTONES OVERLAY THAT CHART.
SO THAT'S WHAT I'M GONNA FIGURE OUT HOW WE CAN EXTRACT THAT AND JUST FLUSH OUT THAT, UM, PRESENTATION.
SO I, I THINK THAT'S, UH, ACHIEVABLE HERE SHORTLY.
UM, IT, IT DEFINITELY SOUNDS LIKE WE NEED TO INVITE OUR, UM, FRIENDS FROM FINANCE TO, TO COME TO THIS FORUM AND JUST BE ABLE TO GIVE US AN UPDATE ON SOME OF THOSE HIGHER LEVEL QUESTIONS THOUGH, AND MAYBE WE CAN REACH OUT TO THEM SHORTLY AND SEE IF THEY'RE AVAILABLE, UH, AS SOON AS NEXT MONTH.
DOES THAT MEET WITH THE COMMISSION'S APPROVAL? YEAH.
ANY OTHER QUESTIONS, SUGGESTIONS, OR COMMENTS ON ANY OR ALL OF THAT? YOU WANT TO INTRODUCE THE POLITICAL ASPECT? MM.
ONE THING I HAVE LEARNED FROM EXPERIENCE IS ALWAYS KEEP YOUR HAND OFF THE THIRD RAIL
[FUTURE AGENDA ITEMS]
FOR FUTURE AGENDAS? WE JUST TALKED ABOUT FINANCE ON THE NEXT AGENDA.ARE THERE ANY OTHER SUGGESTIONS FOR FUTURE AGENDAS? IF WE ARE GOING TO, WE ARE, IF WE ARE ALSO GONNA INCLUDE DEPARTMENT PRESENTATIONS, CONTINUE AS WE HAVE IN THE PAST, IS THERE A PREFERENCE FOR DEPARTMENTS THAT YOU ARE INTERESTED IN STARTING ON? WE'D HAVE TO LOOK AT THE GOAL SCHEDULE TO SEE, DO WE HAVE A LISTING OF, UH, HOW LONG IT'S BEEN SINCE WE HEARD ALL OF THE OUTSTANDING GEO BONDS THAT WE CAN RUN THROUGH.
OUR, UH, AS A, AS DO WE HAVE IT AVAILABLE TO US RIGHT NOW? YEAH, JUST TO PULL UP, I I COULD GO ONLINE AND LOOK TOO, I GUESS, RIGHT? I, I DON'T HAVE ANYTHING PREPARED THAT I COULD PULL UP.
WE, I CAN DEFINITELY PULL THAT TOGETHER OR WE CAN GET THAT OUT.
UM, AS A FOLLOW UP, SANTIAGO IS YOUR SUGGESTION, CAN YOU TELL US WHICH ONES YOU WERE, YOU THINK WE SHOULD START WITH? THE BIGGEST, THE, YEAH, I, I, I WAS JUST THINKING ABOUT THE, THE, THE 2016 TRANSPORTATION BOND.
WHY DON'T, WHY DON'T WE, UH, TENTATIVELY SET THAT AND, UM, LET STAFF LOOK AT IT AND SEE IF THEY HAVE AN ALTERNATIVE SUGGESTION.
AND IF SO, WE'LL UH, SEND THAT INFORMATION OUT TO THE COMMISSION BETWEEN NOW AND THE NEXT AGENDA.
[01:25:02]
WE'LL TALK ABOUT THE 2016 TRANSPORTATION ISSUE.AND YEAH, I'M ALSO WANTING TO, TO TO HEAR SOME PRETTY DETAILED EXAMPLES OF SOME OF THE CONSTRAINTS THAT, THAT WE'RE UP AGAINST.
YOU KNOW, WE'RE HEARING VENDOR SHORTAGES, MATERIAL SHORTAGES, PRICE INCREASES, UM, WANNA JUST GET A FEEL FOR, HEY, WHAT'S A, WHAT'S AN ACTUAL, UM, YOU KNOW, REAL LIFE EXPERIENCE THAT'S IMPACTING, UH, YOU KNOW, TIMING AND GETTING THINGS DONE IN A TIMELY FASHION? JUST BECAUSE WE'VE, WE'VE HEARD KIND OF BROAD STROKE, BUT, BUT I'D LIKE TO SEE LIKE A, A, A, A REAL CASE, RIGHT? MM-HMM.
SIMILAR THINGS THAT WE'VE LOOKED AT IN THE PAST FOR THE PERMITTING ISSUE, RIGHT? AND THEN I, THE OTHER THAT I RE THAT I REMEMBER, UM, COMING OUT OF A SPECIFIC DEPARTMENT PRESENTATION, THEY MENTIONED THAT APOL, THAT A, A, UH, PROJECT WAS STALLED, WAITING FOR, UH, UTILITY RELOCATION.
I'D ALSO LIKE TO KNOW HOW LONG OUR INTERNAL CITY PROCESSES TAKE, BECAUSE FROM WHAT I RECALL, ESPECIALLY, UM, AROUND PARKS, BY THE TIME THAT YOU DO THE, UM, UH, FEASIBILITY STUDIES AND THEN YOU DO THE COMMUNITY ENGAGEMENT, THEN YOU GO BACK TO A DESIGN AND THEN, AND SO FORTH, YOU KNOW, THERE'S A VERY LENGTHY, UH, PROCESS JUST BEFORE YOU CAN EVEN, UH, GET YOUR PROJECT KIND OF PEED UP.
SO IT WOULD BE INTERESTING TO KNOW, UM, WHAT THOSE TIMELINES LOOK LIKE AND SEE IF THERE'S ANY OPPORTUNITIES TO SHAVE SOME TIME OFF OF THOSE LONG PROCESSES.
AND THAT, THAT TO ME SUGGESTS THAT THERE MAY BE ANOTHER MILESTONE BEFORE DESIGN, EITHER BEFORE OR CONCURRENT.
SO AS A PROJECT'S GOING THROUGH DESIGN REVIEW AT THOSE DIFFERENT STAGES.
UM, TYPICALLY IT'S ALSO GETTING READY TO GO THROUGH THE PERMITTING PROCESS.
AND THERE'S, THERE'S CERTAINLY SOME OVERLAP AND THAT'S ABSOLUTELY A AREA THAT WE'RE LOOKING FOR EFFICIENCIES.
AND, UM, YOU KNOW, PER OUR, OUR NEW DEPARTMENT NOW COMING UP ON ITS, UM, FIRST ANNIVERSARY, UH, DIRECTOR SNOW, DEFINITELY WANTED TO SQUEEZE DOWN THE AVERAGE DELIVERY TIME OF A PROJECT FROM THAT SORT OF SEVEN TO NINE YEARS TO A MUCH MORE MANAGEABLE, LIKE YOU SAID, BELOW SIX YEARS.
AND A LOT OF THAT IS FINDING AREAS OF REDUNDANCY, UM, OVERLAP, REDUCING THE CYCLE TIME FOR SOME OF THOSE SIMILAR PROCESSES AND REVIEWS.
SO WE ARE, WE ARE INVESTIGATING THOSE, UM, SAME THINGS AND WE CERTAINLY SHARE, UM, WITH THE COMMISSION WHAT WE FIND AS WE WORK THROUGH THAT.
WELL, THE OTHER, THE OTHER POSSIBILITY, UM, THAT, THAT BRINGS UP AND IN TALKING ABOUT THE CITY'S PROCESSES, CITY'S PROCESSES ARE IN SOME REGARD, UM, YOU KNOW, GOVERNED BY THE RESOURCES THAT ARE GOING INTO THOSE PROCESSES.
SO, UM, ONE OF THE THINGS YOU OFTEN HEAR IS THE WHOLE PROCESS OF, OF CONTRACTING IS TAKING TOO LONG AS THE CITY EXPANDS, AS THE CITY GROWS AND EXPANDS NECESSARILY ITS CAPITAL PROGRAM, ARE THE NECESSARY RESOURCES GOING INTO THOSE PROCESSES THAT WOULD SUPPORT THE EXPANSION OF THE CAPITAL PROGRAM.
ONE OF THE RECOMMENDATIONS THAT WE MAY FIND OURSELVES LOOKING AT IS, IF YOU'RE GONNA HAVE A BOND SALE OF X AND A CAPITAL PROGRAM OF Y DO YOU HAVE THE RESOURCES AVAILABLE TO GET THAT PROCESS THROUGH THE, THE, TO GET THAT PROJECT THROUGH THE PROCESS IN THE, IN THE SIX YEAR TIMEFRAME THAT WE'RE SHOOTING FOR THERE? I THINK THAT WILL GIVE US PLENTY TO CHEW ON.
[01:30:02]
ANYTHING ELSE TO COME BEFORE THE COMMISSION BEFORE WE ADJOURN? NOT IS THERE A MOTION TO ADJOURN? UH, A MOTION TO ADJOURN.IS THERE A SE I SEE A SECOND FROM SANTIAGO.
UH, ALL THOSE IN FAVOR INDICATE, UH, RAISING YOUR HAND.
THE MEETING IS ADJOURNED AT THREE 30.