Amendment: Item 40 June 8th Agenda

[Colleen Pate]

Council,
Thank you all for having a robust and productive conversation at yesterday’s work session meeting about addressing our housing emergency. This issue is clearly a top priority for all of us, and I hope that we continue to find ways to work together to foster affordability across Austin.

To that end, I believe we need to address one of the largest barriers to home ownership for historically disenfranchised communities: access to capital, including credit.

I will have an amendment to Item 40 on Thursday’s council agenda, Item 40 aims to create a new density bonus program for the ownership of market-rate and income-restricted housing. The amendment would direct the City Manager to add a goal of identifying new opportunities that could provide access to capital and other potential solutions for home ownership to historically disenfranchised communities.

Additionally, this new program should be developed in consultation with stakeholders and city staff to ensure we do our best to accomplish our goals.

You can view the amendment here: http://assets.austintexas.gov/austincou ... 140319.pdf

Thank you,
Kirk
On behalf of Mayor Watson

[Ryan Alter]

Mayor and colleagues,

I appreciate this amendment and agree that lowering barriers for home ownership for historically disenfranchised communities strengthens this program. We will work with staff to include this language in an updated version of the item ahead of tomorrow's meeting.

Ryan