Austin City Council on Thursday approved resolutions supporting six affordable housing developments seeking low-income housing tax credits from the state, clearing a key hurdle for the projects. Several of the developments are within walking distance of Austin transit routes or the first phase of Project Connect, a proximity that could strengthen the city’s transit network.
By adopting a resolution of support for each project, council granted its highest level of endorsement, improving the developments’ chances of receiving competitive tax credits. The Texas Department of Housing and Community Affairs weighs local government backing when awarding 9% low-income housing tax credits, giving more points to projects with a resolution of support than to those with a resolution of no objection or no formal action.
A resolution of support certifies that Austin exceeds the state average for housing units per capita financed through tax credits or private activity bonds, acknowledges that a proposed development is located within one mile of a similar project funded in the past three years, and affirms council’s approval of the construction.
The six developments are spread across the city, including Mueller, North and Northeast Austin, East Austin, and South Austin.