World

City Council approves proposals to support developers pursuing affordable housing credit program



AUSTIN (KXAN) — Austin City Council approved proposals to support to 11 housing developers Thursday in applying for a credit program that would help them build affordable housing in Austin.

The developers are applying for Texas’ competitive 9% Housing Tax Credit Program, which would pay a significant portion of the cost of building.

City Council considered and approved proposals Thursday to support the developers in their mission.

The city estimates our region of the state will see just over $5 million in funding, but that will limit who benefits from the program.  

“The maximum amount of award for each development is $2 million,” City of Austin Housing and Community Development Officer Jamey May said, “and each applicant is applying for $2 million. So just by simple math, we’ll only get two developments funded.”

The proposed locations are listed below:

  • At or near 6405 Berkman Drive, Austin
  • At or near 400 and 404 West Stassney Lane, Austin
  • At or near 808 Eberhart Lane, Austin
  • At or near 3129 East 12th Street, Austin
  • At or near 5900 and 5906 Airport Boulevard, Austin
  • At or near 1326, 1328, 1332, and 1342 Lamar Square Drive, Austin
  • At or near 4202-4210 Medical Parkway, Austin
  • At or near 2341 Corta Street, Austin
  • At or near 2210 East 2nd Street, Austin
  • At or near 13641 Rutledge Spur, Austin
  • At or near 700 West 15th Street, Austin

Council will consider supporting a 12th developer at its meeting on February 15th. 


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button