RESOLUTION NO.
WHEREAS, Imagine Austin–the City’s recently adopted comprehensive
plan for land use and growth adopted June 14, 2012-sets as a primary goal the
development and maintenance of household affordability throughout Austin; and
WHEREAS, the most recent 2014 City of Austin Comprehensive Housing
Market Study indicates that 60,000 renter households earn less than $25,000 per
year—and just 19,000 affordable rental units exist to serve them, leaving a
shortage of 41,000 units; and
WHEREAS, without the city’s continued investment of local resources in
creating and preserving affordable rental properties, the rental gap would be larger;
and
WHEREAS, the Market Study indicates a shortage of deeply affordable
rental units (primarily those renting for less than $500.00/month) for renters
earning less than $25,000 per year; and
WHEREAS, Austin has worked hard to secure additional funding for
affordable housing in the form of General Obligation (GO) bond and Housing
Trust Fund dollars to support affordable housing projects that construct or preserve
housing for the city’s most vulnerable residents—many with very low incomes,
some who were formerly homeless, and some with special housing needs; and
WHEREAS, the Housing Trust Fund Grant Program was established in
2000 and was created in part to address gaps in available funding; and
WHEREAS, this type of flexible funding, which can be deployed quickly
and addresses many of the greatest needs in the city, is an irreplaceable tool in a
fast-moving housing market where federal support is diminishing; and

 WHEREAS, Resolution 0000420-33 (adopted April 20, 2000), which
created the Housing Trust Fund Grant Program, directed the City Manager to
“identify an additional source of funds other than the General Fund for the City’s
contribution to the Housing Trust Fund Grant Program”; and
WHEREAS, Resolution 000907-72 (adopted September 7, 2000) directed
the City Manager to dedicate to the Housing Trust Fund “40% of all incremental
tax revenues derived from developments that are built on property located in the
Desired Development Zone and were not on the Travis Central Appraisal District
property tax rolls on June 1, 1997”; and
WHEREAS, despite the fact that Resolution 000907-72 described all public
land, the current practice only transfers property tax revenue from properties
within the desired development zone that were formerly City-owned; and
WHEREAS, Resolution No. 20151217-074 increased the percentage of tax
revenue derived from properties within the desired development zone that were
formerly City-owned to be transferred to the Affordable Housing Trust Fund from
40% to 100%; NOW THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF AUSTIN:
Beginning with fiscal year 2016-17, in addition to properties previously
included in the Housing Trust Fund transfer calculation, the City Manager is
directed to transfer 100% of the property tax revenue derived from all properties
within the desired development zone not on the tax roll as of January 1, 2015 to the
Housing Trust Fund.

 BE IT FURTHER RESOLVED:
Beginning with fiscal year 2016-17, the City Manager is directed to transfer
100% of the property tax revenue derived from the formally State owned property
known as Bull Creek to the Housing Trust Fund.

ADOPTED: ____________, 2016

ATTEST: ________________________
Jannette S. Goodall
City Clerk