| |
WHAT IS BEING SPENT?
Table 1 provides a sample of public sector investments
in housing that totaled more than $40 million in the 1998-99 fiscal year. These
funds purchase a range of housing services including emergency home repair,
public housing projects, and Section 8 rental assistance.
Table 1
Housing Investments in Travis County by Selected Major Public Investors, 1998-99
| FUNDING
AGENCIES |
ANNUAL
EXPENDITURES |
PERCENT
|
| Housing
Authority for the City of Austin (Including Grants) |
$21,385,337
|
53%
|
| City
of Austin Funding1
(Including Grants) |
$12,897,440
|
32%
|
| Travis
County Housing Authority |
$3,656,582
|
9%
|
| Austin
Travis County MHMR |
$986,518
|
2%
|
| Travis
County Direct Services |
$792,008
|
2%
|
| Austin
and Travis County Joint Social Service Contracts |
$333,242
|
1%
|
| United
Way/ Capital Area |
$143,000
|
0.4%
|
| TOTAL
|
$40,194,127
|
100.0%
|
Note: The 1998-1999 period represents varying
fiscal calendars.
1 Total budget for
the Neighborhood Housing and Conservation Services Division. $11,463,420 from
the Federal Housing and Urban Development Department and $1,434,020 from the
City's General Fund.
Many of the funding agencies above receive funding from the Federal Housing
and Urban Development Department (HUD) and the Texas Department of Housing and
Community Affairs (TDHCA). Additional investors include local non-profit and
faith-based organizations and public/private partnerships. Many of the following
organizations receive funding from local government organizations.
- Hands on Housing: Austin Metropolitan Ministries created an alliance
of churches, business and civic organizations that work to provide free home
repair for low-income elderly or disabled homeowners. In 1998, Hands on Housing
had an operating budget of approximately $100,000.
- Habitat for Humanity: The local Austin branch of this faith-based
non-profit organization had an operating budget of $1,833,536 in 1998. This
figure includes all low-income housing construction, budget for the Re-Store
(which sells donated building materials to raise funds), and all administrative
costs associated with operating the non-profit organization
- Travis County Housing Finance Corporation: In 2000, approximately
$10 million of bond funds will be used to provide qualifying homebuyers with
4% of the original loan amount to be used for down payment and closing cost
assistance. Low-interest mortgage loans are also available with 6.4% rates.
TCHFC makes these bond funds available approximately every two years.
- City of Austin Housing Opportunity Trust Fund: This program allocated
$1,000,000 in September 1999 to address affordable housing in the community.
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