Austin Housing Finance Corporation lends support for more affordable housing

Austin, Texas (August 11, 2006) – The Austin Housing Finance Corporation (AHFC) Board of Directors approved funds to support two area non-profit organizations to create affordable housing for military veterans and those with mental disabilities.

AHFC will provide $123,163 to Community Partnership for the Homeless, Inc. to help with the rehabilitation of four properties that will house 15 very low-income homeless military veterans. The transitional housing units will serve veterans with yearly incomes that do not exceed 30% of the median family income, $14,950 for a one-person household. Clients typically participate in the transitional housing program for three to 18 months during which they are provided critical supportive services that are designed to enable them to achieve greater levels of independence and self-sufficiency.

AHFC will also provide $250,000 to NMF VII, Inc., a newly created non-profit established by Austin-Travis County Mental Health and Mental Retardation, to assist in the acquisition of a 20-unit multi-family property for low-income individuals with mental disabilities. This money will help rehabilitate the property located at 1507 West 39 ½ Street, which includes 20 one-bedroom/one-bath units and will serve persons with yearly incomes of no more than 50% of the median family income, $24,900 for a one-person household.

“This is a great opportunity for us to continue to work with local partners to create affordable housing opportunities for those who are in the most need,” says Paul Hilgers, Executive Director of the Austin Housing Finance Corporation. “These are partners who provide invaluable services to our community and we are lending our support to help them achieve their goals.”

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)