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City of Austin staff taking housing “know-how” to national organizationAustin, Texas (September 6, 2006) – The National Community Land Trust (CLT) Network elected its first ever Board of Directors during its July meeting in Boulder, Colorado which included the City of Austin’s Kelly Weiss. Weiss, the Community Development Administrator for the Austin Housing Finance Corporation (AHFC), will lend her housing expertise to the national organization. As a CLT National Network Board Director, Weiss is serving on the Best Practices Committee to establish nationwide best practices of securing permanent affordability through a community land trust model. “It is a great compliment to Kelly’s expertise that the CLT Network has elected her to their first Board of Directors. It is also recognition of the leadership Austin has shown in the affordable housing arena,” said Paul Hilgers, Director of the Austin Housing Finance Corporation. Because of the increased need for affordable housing and the decreased availability of public funding, permanently affordable housing is critical to meeting the needs of working families and the goals of local governments. The City of Austin has authorized the adoption of a CLT Program and the Austin Housing Finance Corporation will develop housing and administer the program subject to permanent affordability requirements for the City of Austin. AHFC will also provide technical assistance to local non-profit and private developers, as well as other stakeholders and partners. About Community Land Trusts Nationwide, Community Land Trusts have produced an estimated 10,000 units or less in the past 20 years. These units have been financed by leveraging public and private fund sources, including federal, state, local, and private dollars and have created permanent affordability through a 99-year ground lease with resale restrictions to income qualified homebuyers. The CLT movement is based in grass-roots, neighborhood and community collaboration. Fannie Mae has recently changed its guidelines allowing a broader range of CLT homebuyer mortgage products and recognizes the growing need to service local government’s needs to support permanent affordable housing solutions. Because an increasing number of local governments, such as Austin, TX, Boulder, CO, Chicago, IL and Irvine, CA, are becoming more involved in the regulation of affordable housing through developer incentive programs and inclusionary zoning, the number of permanently affordable units will likely double, reaching twenty-thousand units across the nation over the next three years. The City of Austin is committed to compliance with the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act of 1973, as amended. Reasonable modifications and equal access to communications will be provided upon request. Please call 974-3100 (voice) or 974-3102 (TDD) for assistance. This project is made possible by funding from HUD through the City of Austin. CONTACT: Jackie Mayo, AHFC, 974-3121 (voice), 802-7108 (pager) |
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