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Industrial Development Board studies Austin, Denver housing programs as models for Nashville
Summary
At an Oct. 8 ad hoc meeting, the Industrial Development Board reviewed Austin and Denver housing programs, focusing on bond funding, eviction-prevention initiatives, zoning incentives and outreach strategies. The board approved last month's minutes and asked staff and members to produce comparative charts and source links for follow-up.
The Industrial Development Board met Oct. 8 for an ad hoc session to compare Austin's and Denver's affordable-housing strategies and to consider what elements might be applicable in Nashville.
Board members spent most of the meeting reviewing funding structures, program design and zoning tools used in those cities, with particular attention to general obligation bond packages, eviction-prevention programs and mixed-income incentives. The board approved the minutes of the prior ad hoc meeting before proceeding to the substantive presentation and discussion.
Board member Wright, who presented the Austin material, told colleagues that Austin voters approved a $350,000,000 affordable-housing general obligation (GO) bond in 2022 and had previously issued a $250,000,000 GO bond in 2018. Wright said Austin had spent roughly $316,000,000 of those bond funds as of late 2022, leaving about $34,000,000 unspent in that cycle. Wright said the city combines bond proceeds with other revenue sources, including general-fund transfers, a dedicated affordable-housing fund, a homelessness-resolution…
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