BOND 101 FAQs
What is a Proposition, aka “Prop”?
A “prop” is a proposition for voters to consider. It’s a ballot measure about local policies you can use your voice to put into effect.
What is an affordable Housing Bond?
An Affordable Housing Bond is an investment in the betterment of our community driven by the City’s partnership with local housing organizations. The Bond will fund programs through various nonprofits and community groups to build new affordable homes, repair existing ones, and create better lives for all Austinites.
What can Affordable Housing Bonds be used for?
Affordable Housing Bonds fund more things than one. They help nonprofits like Austin Habitat for Humanity build homes for low-wage workers and other nonprofits like Meals on Wheels Central Texas provide home repairs for seniors so they can age-in-place. It’s for more people than you may think – affordable housing can be for anyone who makes lower or moderate incomes because of how rapidly the housing crisis has escalated.
What is “Keep Austin Affordable”?
Keep Austin Affordable is a coalition of local nonprofits, businesses and community groups who want all of our neighbors to have a place to call home. Members like Austin Habitat for Humanity, Foundation Communities, LifeWorks, Caritas of Austin, Meals on Wheels Central Texas and HousingWorks Austin see the housing crisis as a high priority for the City to invest in mitigating and are committed to passing the Bond.
Who would be helped by the Bond?
Bus drivers, children’s teachers, and medical assistants; restaurant cooks, janitors, and the homeless; your Grandparents, caretakers, and veterans on fixed-incomes. They are the neighbors who make our community the diverse and “weird” Austin we all love.
Would the investment have a return?
Yes - and a large one at that. The 2013 Bond was for $65 million, which leveraged a 7:1 return ratio that was put into making our community stronger!
What about taxes - how much will they be raised with the Affordable Housing Bond?
The City is proposing 7 bonds, including investments for things like public safety, drainage, transportation, and parks. For all 7 bonds combined, including Affordable Housing, the average homeowner could expect a $5/month increase. No single proposition is expected to increase taxes alone.
How can I support this?
Make sure you are registered to vote. Early voting begins October 22nd and will end November 2nd. The general election will be on Tuesday, November 6th. You can also follow Keep Austin Affordable by signing up for our newsletter and following on Facebook.