Posting Language
Title
Authorize negotiation and execution of a one-year contract with the Housing Authority of the City of Austin to fund and administer the Tenant Based Rental Assistance Program, which provides housing opportunities through subsidies to families and individuals experiencing homelessness, in an amount not to exceed $1,280,112, with four one-year extension options, each in an amount not to exceed $1,280,112, for a total contract amount not to exceed $6,400,560. Funding: It is anticipated that funding in the amount of $1,280,112 will be available in the Fiscal Year 2025-2026 Operating Budget of the Austin Housing Finance Corporation through federal HOME Investment Partnership Program funds. Funding for each extension option is contingent upon available funding in future budgets.
De
Lead Department
Austin Housing Finance Corporation.
Fiscal Note
It is anticipated that funding in the amount of $1,280,112 will be available in the Fiscal Year 2025-2026 Operating Budget of the Austin Housing Finance Corporation through federal HOME Investment Partnership Program funds. Funding for each extension option is contingent upon available funding in future budgets.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091.
Council Committee, Boards and Commission Action:
March 07, 2024 - The Austin Housing Finance Corporation (AHFC) Board approved negotiation and execution of an amendment to the agreement with the Housing Authority of the City of Austin (HACA) to fund and administer the Tenant Based Rental Assistance (TBRA) Program in an amount not to exceed $175,000, for a total contract amount not to exceed $1,467,971.
December 14, 2023 - The AHFC Board approved a 12-month contract with HACA to fund and administer the TBRA Program in the amount of $1,292,971.
December 8, 2022 -The AHFC Board approved an 11-month contract with HACA to fund and administer the TBRA Program in the amount of $1,264,779.
December 9, 2021 - The AHFC Board approved an 11-month contract with HACA to fund and administer the TBRA Program in the amount of $1,133,205.
December 10, 2020 - The AHFC Board approved a 10-month contract with HACA to fund and administer the TBRA Program in the amount of $1,140,849.
September 19, 2019 - The AHFC Board approved a one-year contract with HACA to fund and administer the TBRA Program in the amount of $626,954.
September 19, 2019 - The AHFC Board approved a one-year contract with HACA to fund and administer the TBRA Program in the amount of $508,411.
Additional Backup Information:
If approved, AHFC will be authorized to negotiate and execute a one-year agreement with HACA to administer the TBRA Program, in an amount not to exceed $1,280,112, contingent on the approval of the City of Austin’s (the City’s) Fiscal Year 2025-2026 Federal Annual Action Plan, with four one-year extension options, each in an amount not to exceed $1,280,112, contingent upon available funding in future budgets, for a total contract amount not to exceed $6,400,560. The TBRA Program provides rental housing subsidies and security deposits to eligible families who would otherwise be homeless. To be eligible for the TBRA Program, households must be working towards self-sufficiency with a case manager and have a total household income at or below 50 percent of the Area Median Family Income (currently $58,400 for a family of four). The TBRA Program will serve all City addresses including those in the City’s full purpose and extra-territorial jurisdictions. Families can receive assistance through the TBRA Program for up to 24 months. Each household will pay no more than 30 percent of its monthly income toward rent. The TBRA Program will pay the difference between what the household can afford and the actual rent amount. As a family's income increases, the amounts paid by the TBRA Program decrease accordingly. All payments made by the TBRA Program are paid directly to the landlord.
HACA has more than 25 years of experience with providing TBRA services. HACA verifies client and property eligibility, manages leasing terms, and makes rental subsidy payments directly to landlords each month. HACA also serves as a liaison between clients and landlords to ensure that landlords understand clients are only eligible for TBRA if the household meets regulatory and program requirements. The TBRA Program will serve up to 65 households.