Business Now: Nonprofits push for more affordable housing
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Austinites will vote on a $500 million bond proposal in November.
Nonprofits are asking council members to set $100 million of that bond money aside for affordable housing. According to experts, Austin would actually need $13 billion worth of housing to correct the problem, but nonprofits say if they are able to secure the money, they’ll be able to parlay that into $400 to $500 million.
In 2006, nonprofits were able to use bond money to build single-family homes in South Austin and apartment communities in East Austin. To read the full story from The Austin Business Journal click here.