Updated 7:30 p.m. CST Nov. 6
Final unofficial results show Austin's affordable housing bond with 60.38 percent of votes in favor. Out of 66,045 votes, 39,878 voted for the measure and 26,167 voted against the proposition.
Updated 12:10 a.m. CST
According to the latest unofficial results, Austin's affordable housing bond has 60.69 percent of the vote in favor of the measure.
Elliott McFadden, campaign manager for Keep Austin Affordable, said his organization is excited by the election results, calling it a "great victory" for Austin.
"I think it's reflective of the values of Austin," McFadden said. "The voters said we need to have affordable housing for everyone in our community and to keep the character of Austin what it's been. We're thankful for the voters making this investment and continuing the success of the 2006 bond so we can serve more working families and seniors on fixed incomes that need affordable housing in our community."
McFadden said the bonds are a first step in allowing the city to deal with the growing problem of affordability. Other aspects of that solution include finding a long-term funding source for affordable housing and changes to the city's Land Development Code to make developing affordable housing easier.
However, McFadden said residents would see some immediate use of the bond funds.
"The bonds will be put to use immediately by organizations like Habitat for Humanity, Foundation Communities and Meals on Wheels to create and renovate affordable housing," he said.
Posted 7:31 p.m. CST
According to early voting results, Proposition 1—the city of Austin's affordable housing bond—has 59.14 percent of voters in favor of the measure. Of the 27,433 early voters, 16,223 voted to approve the bond while 11,210 voted against the proposition.
"We feel pretty confident that [the 59 percent] will hold through election day," said Elliott McFadden, campaign manager for Keep Austin Affordable. "We are honored that the citizens of Austin have made this investment in affordable housing for everyone in our community. We think this vote really reflects the values of Austin, and we want to have a city where all of our residents can continue to live here."
The bond is for $65 million, which would be funded through general obligation bonds and repaid through property taxes collected by the city. According to city documents, the amount of the bond is within the city's bonding capacity and is not expected to raise the tax rate.
The funds from the bond could be used for projects including rental housing development, home ownership programs and home repair programs. Rental housing development projects and home ownership programs could receive more grants and loans to build and refurbish rental units and homes. Home repair programs could use the funds to address poor living conditions or accessibility issues.
City voters previously passed an affordable housing bond for $55 million in 2006. In 2012, the city of Austin put a similar bond for about $78.3 million on the ballot, but that measure failed by 6,721 votes, with 114,749 votes for the proposition and 121,470 votes against it.
