AUSTIN, Texas — Community members weighed in on Austin ISD's potential teacher housing bond in a public input session on Tuesday, according to a report from Community Impact.
A PowerPoint presentation from the session shows that AISD wants to use $50 million from a bond proposition – separate from the main bond package the district is considering – to build an estimated 500 to 1,000 housing units for teachers.
AISD's director of real estate said the $50 million would be leveraged to raise up to $325 million of additional funding. That means the district would use that $50 million as a down payment of sorts for a project that could be financed, according to Community Impact. That debt would not be passed on to taxpayers. Instead, it would be covered by income from the properties. The units would sit on district-owned land.
AISD pointed toward rising housing costs and rent as a source of struggle for the district's teachers, who often don't quality for affordable housing programs.
The presentation noted school bonds must receive a majority approval from voters.
The AISD Board of Trustees is set to vote on which of the two main bond packages it would like to add to the ballot and if the housing bond should be included on Aug. 9.
In May, AISD announced a partnership with Austin Habitat for Humanity to build 30 affordable homes for district families and employees.
To learn more about the proposed housing bond, read Community Impact's full report.
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