DEPARTMENT: Planning and Community Development
DEPARTMENT HEAD: Bridgett White
COUNCIL DISTRICTS IMPACTED: Citywide
SUBJECT:
Briefing on the status of the proposed 2017-2022 Bond Program
SUMMARY:
This item will include a staff briefing on the status of the proposed 2017-2022 Bond Program.
BACKGROUND INFORMATION:
On October 27, 2015, the Housing Commission to Protect and Preserve Dynamic and Diverse Neighborhoods established the Housing Bond and Funding Subcommittee in order to discuss relevant items on the Commission's FY 2016 Work Plan and to develop recommendations to bring back to the Commission for possible action.
The Housing Bond and Funding Subcommittee first met on November 9, 2015 to begin a facilitated discussion on a framework for a potential affordable housing bond. The Subcommittee has met monthly to continue its facilitated discussion.
On August 2, 2016, the Housing Commission approved the following three (3) recommendations for City Council consideration pertaining to a framework for an affordable housing bond:
1. The Housing Commission recommends a ballot measure in November 2017 to amend the City of San Antonio Charter, eliminating language that restricts the use of general obligation bond proceeds to only public works activities, thereby allowing the City to issue general obligation bonds for housing-related activities.
2. The Housing Commission recommends a ballot measure in May 2017 concerning the City's issuance of general obligation bonds, the proceeds from which would be administered by the Office of Urban Revitalization San Antonio (OUR SA) for purposes of compliance with applicable Texas law (but with oversight and direction from the City regarding such administration), in an amount between $10 million and $25 million. The Commission also recommends that (i) OUR SA be restructured if necessary to successfully administer the bond activities and (ii) bond-funded activities under this proposition do not result in the perm...
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