The Austin City Council voted Thursday to direct City Manager Spencer Cronk to work on placing a $350 million housing bond onto the November ballot. This comes four years after voters gave approval for the city to borrow $250 million, which city officials claim has already been spent.
“We are very thankful to Mayor Adler and all Council Members for their support in placing a $350 million affordable housing bond on the November 2022 ballot,” said LaRessa Quintana, campaign manager for the 2022 affordable housing bond campaign. “This bond will go a long way in addressing Austin’s affordability crisis and providing housing access to the most vulnerable Austinites.”
Initially proposed at $300 million, the council later decided that was not enough. If approved by voters in November, the average homeowner will see an increase on their tax bill of more than $46.
