General Obligation Bonds

On November 7, 2006, Austin voters approved a $55 million dollar issue of General Obligation bonds to increase the supply of affordable housing. The City will receive an allocation of funds generated by bond sale proceeds over the next seven years to increase affordable rental and homeownership opportunities. More information about the General Obligation Bonds can found on the City's Budget website.

The Austin City Council approved a process for allocating affordable housing bond funds and three categories by which bond funds can be accessed, within prescribed limits: 1) City Council-directed initiatives, 2) acquisitions that are time-sensitive, and 3) a quarterly, competitive process.

The Austin Housing Finance Corporation has issued a Notice of Funding Availability (NOFA) through which applications will be accepted for proposed affordable housing developments. Applications will be scored and ranked using G.O. Bond scoring criteria and recommendations for funding will be forwarded to the AHFC Board of Directors for approval.

An external review committee comprised of housing and finance specialists will review applications and make recommendations for funding. Incomplete applications will not be considered.

An updated list of applications received through the NOFA process will be posted monthly along with the status of each. For more information, contact David Potter, Housing Development Manager, at 512-974-3192 or by email.

Please note: There are separate guidelines for affordable rental housing and affordable homeownership.