DEPARTMENT: Office of the City Attorney
DEPARTMENT HEAD: Andy Segovia, City Attorney
COUNCIL DISTRICTS IMPACTED: City Wide
SUBJECT:
Proposed amendment to the City Charter to allow the City to issue bonds for permanent public improvements or any other public purpose including affordable housing projects. [Andy Segovia, City Attorney]
SUMMARY:
A briefing to the Housing Commission on proposed charter amendment language that would allow the City to issue bonds for permanent public improvements or any other public purpose. The amendment would allow the consideration by the City Council and voters of a broader range of choices for potential bond projects including affordable housing, economic development and address other community needs.
BACKGROUND INFORMATION:
The current bond language in the City of San Antonio's Charter allows only for the construction of "public works" projects. The Charter Review Commission identified the need to include bond propositions that promoted the growth of our city's affordable housing stock and provide the community with a greater array of potential bond projects to consider. The Mayor's Housing Task Force also identified the need to revise the City Charter to provide added flexibility for affordable housing projects.
Recently, the City Attorney's Office and the Finance Department worked with outside bond counsel to review and update the proposed amendment language to provide the most flexibility under State law. The revised language provides such flexibility while also acknowledging that bond projects must adhere to other applicable State law parameters. Additionally, the City Council has made it clear that affordable housing is a key policy priority and the added flexibility would facilitate development of bond projects for the projected 2022 bond proposal.
The proposed language aligns San Antonio with other Texas municipalities. Dallas's 2017 bond program included an initiative to revitalize mixed income hou...
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