DEPARTMENT: Neighborhood & Housing Services
DEPARTMENT HEAD: Ver?nica R. Soto, FAICP, Director, NHSD
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Housing Bond Charter Amendment Process and Timeline
SUMMARY:
Staff briefing on the process and timeline for a Charter amendment to align with the proposed 2022-2027 Housing Bond.
BACKGROUND INFORMATION:
The 2017-2022 Bond Program for the first time in San Antonio's history included housing as one of the program areas. The housing bond proposition of the 2017-2022 Bond Program differs from the other 5 propositions in that for housing, the City utilized its Urban Renewal authority in order to be able to issue general obligation bonds. The Urban Renewal authority of the city does allow for issuance of the bond though this has many caveats that limit the range of activities and the methods the city may utilize for housing purposes and activities have to be adopted via an Urban Renewal Plan. The last Urban Renewal Plan and bond issuance had to be approved by the State Attorney General, something not needed for the other bond program propositions.
This was needed because the current city charter language allows for issuance of general obligations bonds for public works. The current City Charter Language, as adopted May 5, 1997 through Ordinance No. 85965, ? 1 (Prop. 1), the City Charter, Section 98, Authority to Issue Bonds, states:
"The City shall have power to borrow money on the credit of the City and to issue bonds to construct, acquire, equip, renovate, improve and repair public works for public purposes and to fund or refund any bonded indebtedness;..."
The term public works for public purposes disallows the City to self-perform the implementation of a housing bond program without the help of the City's Urban Renewal Agency.
2017-2022 Neighborhood Housing Bond Background
The 2017 Neighborhood Improvements Bond Program provides for the issuance of general obligation bonds to finance the cost of p...
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