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Austin committee asks staff to map LIHTC expirations and explore ways to preserve affordability
Summary
The Housing & Planning Committee asked staff to share a district-by-district spreadsheet of Low-Income Housing Tax Credit (LIHTC) properties with upcoming affordability expirations and to brief the committee on possible municipal interventions to prevent conversions to market-rate housing.
Chair Madison, the council member for District 1 and chair of Austin’s Housing & Planning Committee, asked staff Jan. 27 to brief the committee on Low-Income Housing Tax Credit (LIHTC) properties in Austin whose affordability periods are ending and to identify what, if any, municipal interventions are available.
Madison said the city already catalogs LIHTC properties and that as federal or HUD contracts come to a close ‘‘the complex has the opportunity . . . to convert those units from income restricted to market rate.’’ She asked staff to share the…
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