Better Know a Proposition: Prop. Five

This one's the last one for this week. We'll finish up next week with the last two propositions. Remember, you can vote early through November 3.

Proposition Five in ballot lingo:

“The issuance of $55,000,000 in tax supported General Obligation Bonds and Notes for constructing, renovating, improving, and equipping affordable housing facilities for low income persons and families, and acquiring land and interests in land and property necessary to do so, and funding affordable housing programs as may be permitted by law; and the levy of a tax sufficient to pay for the bonds and notes.”

We haven't heard much publicity for Proposition 5, which is too bad. This proposition is all about affordable housing. Money from this bond will go towards rental assistance programs, as well as construction and updating of rental housing (which includes special needs housing). Money would also go towards first-time homebuyer assistance for low-income Austinites.

More information:

See also: Prop. One | Prop. Two | Prop. Three | Prop. Four

Photo by Matt Wright

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By Elizabeth S. in News on October 27, 2006 1:30 PM 0 Comments

Comments [rss]

Mike

These sort of measures have one goal in mind: increase property values for the NIMBYs in close in Austin. It is exactly what has played out in the SFBay area much to the profit of the people who already owned homes there.

M1EK

Rob nailed it. This is ten times as expensive as just standing the hell up to the bad neighborhood associations that have a stranglehold on central Austin (don't forget that the McMansion ordinance will also lead to a signficant drop in secondary dwelling units, i.e., duplexes and garage apartments).

Rob

1. Create new bureaucracies to enforce draconian zoning laws that restrict multi-unit dwellings, thereby increasing property values.

2. Develop McMansion ordinance so that existing properties cannot be expanded to house growing families.

3. Restrict road building by protesting against toll roads, thereby increasing the value of inner-city properties.

4. Create new bureaucracy to hand out assistance to people who can no longer afford to live in the city thanks to #s 1-3.