Posting Language
Title
Approve an ordinance amending the Fiscal Year 2024-2025 Housing Department Operating Budget Special Revenue Fund (Ordinance No. 20240814-007) to accept and appropriate $6,728,249 in grant funds from the United States Department of Housing and Urban Development’s PRO Housing Grant Program to update the Strategic Housing Blueprint, expand housing in high-opportunity areas, and prioritize transit-oriented development and preservation of affordable housing near planned light rail investments. Funding: $6,728,249 is available from the United States Department of Housing and Urban Development’s PRO Housing Grant Program. A City match of $21,329,962 is required that includes $18,500,000 provided by the Austin Housing Finance Corporation through previously appropriated acquisitions and $2,829,962 in staff time from the City’s Housing and Planning Departments over a six-year period.
De
Lead Department
Housing Department.
Fiscal Note
Funding in the amount of $6,728,249 is available from the United States Department of Housing and Urban Development’s PRO Housing Grant Program. A City match of $21,329,962 is required that includes $18,500,000 provided by the Austin Housing Finance Corporation through previously appropriated acquisitions and $2,829,962 in staff time from the City’s Housing and Planning Departments over a six-year period. A fiscal note is attached.
Prior Council Action:
August 14, 2024 - Council approved the Fiscal Year 2024-2025 Housing Department Operating Budget.
For More Information:
Mandy DeMayo, Interim Director, Housing Department, 512-974-1091; Alex Zamora, Chief Administrative Officer - Financial Services, Housing Department, 512-974-3151.
Additional Backup Information:
If approved, this action will accept and appropriate $6,728,249 in funds from the United States Department of Housing and Urban Development’s PRO Housing Grant Program. This program is designed to further develop, evaluate, and implement housing policy plans, improve housing strategies, and facilitate affordable housing production and preservation.
With the PRO Housing funding, the City will update the Strategic Housing Blueprint, expand housing in high-opportunity areas and prioritize transit-oriented development and preservation of affordable housing near planned light rail investments. To read the full application, go to <https://www.speakupaustin.org/PROHousingGrant2024>.