Posting Language
Title
Approve the Final Amendment to the Project and Financial Plan for the Extension for the 10-year extension of Homestead Preservation Reinvestment Zone Number One. Funding: This item has no fiscal impact.
Body
Lead Department
Austin Housing.
Fiscal Note
This item has no fiscal impact. The proposed amendment increases the estimated revenues and associated project costs associated with Homestead Preservation Reinvestment Zone Number One in connection with the 10-year extension of the zone; however, it does not increase the amount of property tax increment captured by the zone.
Prior Council Action:
January 11, 2007 – Ordinance No. 20070111-053:
Council established Homestead Preservation District A, the City’s first HPD under Chapter 373A of the Texas Local Government Code.
December 17, 2015 – Ordinance No. 20151217-099:
Council established Homestead Preservation Reinvestment Zone Number One (HPRZ No. 1) with a 10 percent tax increment dedicated to affordable housing. Termination December 31, 2025.
January 31, 2019 – Resolution No. 20190131-045:
Council approved a resolution increasing the tax increment for HPRZ No. 1 from 10 percent to 20 percent
March 7, 2019 – Ordinance No. 20190307-042:
Council approved the final project and financing plan for HPRZ No. 1, confirming the 20 percent tax increment set-aside for affordable housing in Districts 1, 3, and 9.
March 28, 2019 – Ordinance No. 20190328-010:
Council created the Board of Directors for HPRZ No. 1 and appointed Council as its members.
April 11, 2019 – Ordinance No. 20190411-006:
Council approved the Final Project and Financing Plan for HPRZ No. 1.
September 11, 2025 – Resolution No. 20250911-046:
Council directed an ordinance to be brought to Council for consideration to extend the term of HPRZ No. 1 an additional 10 years and increase the portion of the tax increment from HPRZ No. 1 to fund affordable housing from 20 percent to 40 percent.
November 20, 2025 – Ordinance?No. 2...
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