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Fort Worth Council approves landmark affordable housing initiative

June 26, 2024 | Fort Worth, Tarrant County, Texas



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This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Fort Worth Council approves landmark affordable housing initiative
The Fort Worth City Council convened recently to discuss significant developments in affordable housing and public safety funding. A key highlight was the approval of an ordinance related to the establishment of the Fort Worth Community Land Trust, which aims to facilitate the development of affordable housing by allowing the trust to acquire property and sell homes to working families. This initiative is expected to enhance homeownership opportunities and contribute to generational wealth for residents, marking a pivotal step in the city’s housing strategy.

Fernando Costa, a city official, emphasized the importance of this land trust, noting that it will formally recognize city property taxes on the land, which was previously tax-exempt due to its ownership by a seminary. This change is projected to increase future city revenue from the property. Council member Beck highlighted the urgency that led to the initiative's inception, crediting the mayor's quick action in securing the property, which is poised to become the largest land trust in the United States.

In addition to housing, the council addressed a budget amendment for the City’s Crime Control and Prevention District (CCPD). Lorraine Coleman from the police department presented a proposal to reallocate $4.26 million in savings from the recruit and training initiative to support the Northwest Patrol Division project. This adjustment aims to cover unexpected costs related to site conditions and construction increases, ensuring that the project remains within the overall fiscal budget for 2024.

Both initiatives reflect the council's commitment to enhancing community welfare through strategic investments in housing and public safety, with motions for approval passing unanimously.

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