City Council, District 1
Reforming the Land Development Code can help provide less expensive housing options through density and meeting the demand for housing. A single family home demolished and replaced with a single family home will often times be a more expensive housing option then if that single home was not replaced with a single family home but instead a duplex.
Increased bond and budget money to assist with affordable housing and low income housing is needed. The market’s goal is to make money so the government is going to have to create the affordable units and units for people that are low income.
If the 7 to 1 leverage ratio achieved on the previous bond is achieved on the $250 million bond this fall, then it would return $2 billion in important affordable housing funds. Central Texas will need about $10 billion in affordable housing and low income housing units in the next decade or so. Thus, this bond is a good step in the right direction, as more must be done to meet the needs that we have.