AUSTIN, Texas — The Austin Independent School District (AISD) approved the creation of a Public Facility Corporation on Thursday night during its board meeting. The corporation would provide more flexibility to manage its facilities, along with helping build more affordable housing for the AISD community.
The new corporation would consist of anywhere from three to nine members within the AISD board who would be in charge of setting income requirements for future affordable housing sites, according to board members.
Board members stressed that the district would be leasing the land and would not be responsible for collecting rent checks.
Jeremy Striffler is the real estate director for the district and said AISD is aware of the rising rent in Austin and teachers having to endure long commutes. Tha's why the district has been working on solutions to keep them in the community they serve.
"We are just trying to think outside the box here in terms of how to address affordability," Striffler said.
Last month, AISD passed a resolution to redevelop the Anita Ferrales Coy Facility, known as the "Coy Campus," in southwest Austin. Striffler said the site would provide more than 500 units for teachers and staff, and there are other sites that are looking to get repurposed.
"We have the value of our land that we can leverage and do this. It doesn't cost us anything in terms of the bond money or general fund and so, we feel like this is good stewardship of the land that we've been entrusted with," Striffler said.
He added that the Public Facility Corporation would help keep rent steady.
“The biggest benefit to us is that it keeps the property tax-exempt, which means that variables will be removed when rents are being calculated, and so it helps protect the long-term affordability," Striffler said.
Before Thursday's board meeting, Education Austin, a labor union within AISD, members got together outside of the headquarters to express their frustration with the lack of compensation teachers receive.
“We fought through the pandemic. We kept things going. People called everybody heroes, but not the Legislature doesn’t want to give us a penny," Education Austin President Ken Zarifis said.
Zarifis mentioned when it comes to affordable housing, he hopes that benefits will go toward those who actually need it.
“I think payment, affordable housing, good workload – all these things work together to make a really great district," he said.
Striffler noted there are still several steps before a shovel can hit the ground.
"We'll be getting proposals this summer, evaluating the responses and come to the board in the Fall with a recommendation as to which partner we should move forward with," Striffler said. "It's the needed steps to get this right."