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Manager's office and BAE present affordability gap analysis; staff proposes 50% MFI density bonus target
Summary
City Manager's Office and consultant BAE Urban Economics presented a detailed affordability gap analysis showing a near-term shortfall of roughly 46,000 rental units under 50% MFI. Staff recommended targeting a new citywide density bonus at 50% MFI and exploring fee-in-lieu and preservation strategies for expiring LIHTC properties.
Erica Leek of the City Manager's Office and Paul Penninger of BAE Urban Economics briefed the Housing and Planning Committee on Feb. 10 about Austin's housing affordability challenges and potential policy responses.
Leek framed the briefing by describing the City Manager's housing policy team's mission to update data and identify new incentives after state changes. She said Texas Senate Bill 840 (SB 840) expanded by-right entitlements in commercial and some office-based zones and reduced the leverage of local density bonus programs because some previously bonus-granted entitlements can now be built by right.
Paul Penninger presented a detailed affordability-gap analysis. Among findings he highlighted:
- BAE projects Austin-area population and job growth through 2050 and emphasized the need to coordinate…
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