Posting Language
Title
Authorize negotiation and execution of a contract with Capital Impact Partners to expand and facilitate training for small affordable housing developers operating in Austin, Texas, in an amount not to exceed $400,000, for a term of 12 months beginning January 1, 2025, with the option to extend the term of the contract by up to six months. Funding: $400,000 is available in the Fiscal Year 2024-2025 Operating Budget of the Housing Department.
De
Lead Department
Housing Department.
Fiscal Note
Funding in the amount of $400,000 is available in the Fiscal Year 2024-2025 Operating Budget of the Housing Department.
For More Information:
Mandy DeMayo, Treasurer, Austin Housing Finance Corporation, 512-974-1091; James May, Housing and Community Development Officer, Housing Department, 512-974-3192.
Council Committee, Boards and Commission Action:
February 29, 2024 - The Austin Housing Finance Corporation (AHFC) Board authorized execution of an amendment to the contract with Capital Impact Partners for an additional three months to develop training for small affordable housing developers.
September 1, 2022 - The AHFC Board authorized negotiation and execution of a contract with Capital Impact Partners in an amount not to exceed $352,770 for a term of 12 months beginning October 1, 2022, to develop training for small affordable housing developers operating in Austin, Texas.
Additional Backup Information:
If this item is approved, the Housing Department will negotiate and execute a contract with Capital Impact Partners (CIP) to expand and facilitate training for small affordable housing developers operating in Austin, Texas. The total amount of the contract will not exceed $400,000. The contract will provide for a hybrid in person/virtual training. CIP will work in collaboration with Housing Works Austin (HWA) to expand and facilitate capacity building and project-level training to Women- and Minority-Owned Business Enterprise developers. CIP and HWA will lead and support specific elements of the training to ensure a focused and supportive pathway guiding developers' growth and success.
Background
The training was successfully implemented in Fiscal Year 2022-2023. Over 70 people applied for the training, demonstrating a strong interest in, and need for, this type of training in Austin, Texas. Twenty individuals were ultimately selected for the training. Of the 20 participants, 75 percent were Black, Indigenous, and People of Color and 45 percent were female. These individuals, along with 56 presenters and technical assistance providers, including nine University of Texas Faculty Capstone mentors, participated in the initial training. Post-program evaluation data showed a strong interest and need in the community for continuing this training.