On the heels of news that Austin’s homeless population has increased for yet another year, the city council has approved a new pay-for-success program that calls on private companies to invest money up front to pay for permanent housing.
Council member Kathie Tovo says the city really can’t solve this problem through tax dollars alone.
“Success” by the city council’s standards is any person who remains in their new home for six months, and companies will not be reimbursed if a person becomes homeless again within that time.
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