What are the potential benefits of combining the financial capabilities of the City of Austin and the AHFC for increasing housing production in Austin?
Advantages to the City of Austin • Puts the city in the forefront as an active player in development of reasonably priced housing • Creates tax base in the city instead the surrounding communities • Allows the city to use tools not available to other entities without unduly enriching private investors (TIF and Refund Contracts) • Leverages resources not encumbered by costly federal regulations. • Provides HOME match funds • Demonstrates a commitment to solving a central issue in Austin – affordable housing • Provides more reasonably priced housing stock for citizens of Austin • Prevents increases in traffic congestion from commuters that now have to find housing in surrounding bedroom communities. • Increases Sales Tax revenues generated by consumers living inside the city limits. Other potential benefits to the community include: • Provides much needed entry level housing • Creates mixed income communities addressing several rungs in the housing continuum • Creates livable communities
Related Questions
- What are the potential benefits of combining the financial capabilities of the City of Austin and the AHFC for increasing housing production in Austin?
- Why did The City of Austin create the AHFC as the production arm for housing in Austin?
- Does the City offer financial assistance for housing development?
