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Bond Oversight Commission – Feb. 16, 2022

Item 3B Briefing — original pdf

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C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission Our Vision Ensure efficiency, equity, timeliness, and accountability in the implementation of existing and future City bond programs. Our Goals The mayor and council shall work with the commission to set priorities and goals for each new bond issue to be submitted to the voters. The commission shall advise the council on proposed bonds and the implementation of projects approved in bond elections. Our Mission The commission shall monitor the city manager's plans relating to the issuance of bonds and the implementation of projects approved in bond elections, including the review of future potential bonds, the annual appropriation of bond funds, and any changes in the amount of bond funds issues or cash commitments made. C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission AFFORDABLE HOUSING Bond Oversight Commission 2018 BOND Proposition A – Affordable Hosing C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 4 2018 BOND, PROPOSITION A Affordable Housing The issuance of $250,000,000 in tax supported general obligation bonds and notes for planning, constructing, renovating, improving, and equipping affordable housing facilities Bond Oversight Commission for low income and moderate income persons and families, and acquiring land and interests in land and property necessary to do so, funding loans and grants for affordable housing, 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. • • Time Line: Ballot language: 8 years austintexas.gov/election/byrecord.cfm?eid=205 • Contract with the Voters: austintexas.gov/edims/document.cfm?id=304077 C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 5 Appropriated Bond Oversight Commission $250,000,000 Appropriated $58,325,340 Encumbered BOND BALANCES Voter-approved 2018 - PROPOSITION A Affordable Housing $250,000,000 100% Spent $131,877,338 Committed Available Data thru Fiscal Year 2022 Q1 $190,202,678 $59,797,322 100% Committed C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 6 2018 BOND, PROPOSITION A – Affordable Housing SPENDING SUMMARY - $ Amount Available After Annual Spending $300.00 M $250.00 M $250.00 M $247.93 M $200.00 M Bond Oversight Commission $201.41 M $150.00 M $127.03 M $100.00 M $50.00 M $0.00 M $48.01 M $14.01 M FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 Year End Balance Projected Year End Balance Substantially Complete (90%) Data thru Fiscal Year 2021 Q4 Spend plan as of FY22 Approved Budget C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission 2018 Affordable Housing Bond Spend Plan by Project Project Name Prop A- Affordable Housing FY20-21 FY19-20 FY18-19 FY21-22 FY22-23 Total Land Acquisition Bond Oversight Commission $100 million $ 20 million $94 million $20 million $30 million $18 million $20 million $20 million $16 million $20 million $30 million RHDA - OHDA $4 million $6 million $6 million $6 million $6 million $28 million Home Repair $2 million $5 million $6 million $7 million $8 million $28 million $42 million $59 million $62 million $53 million $34 million $ 250 million C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Land Acquisition • 3 Hotels for Permanent Supportive Housing • 52.5 Acres Acquired • 7 Council Districts • Manor Road RFP 1 2 3 4 5 6 7 8 9 10 Vacant Land Acquired 0.45 acres 14.08 acres 18.48 acres 3.15 acres 9.68 acres 3.94 acres - 2.77 acres - - Bond Oversight Commission Council District C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 9 Community Land Trust CLT https://www.aclt-homes.org/ • 29 Homes in Pipeline Bond Oversight Commission • 20 Single Family Homes • AHFC CLT Portfolio • 15 Occupied CLT Homes Acquired in Council Districts 1, 2, 5, and 6 • Preference Policy Launch • Lottery Spring 2022 C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 1 0 Home Repair GO-Repair 2019-20 • Bond Oversight Commission Completed 148 projects Extension 106 projects Total Units: 254 Projects • GO-Repair 2018-19 Completed 150 projects • • Goal = 111 • • Goal = 208 GO-Repair 2020-21 Completed 201 • • Goal = 250 Emergency Home Repair (Winter Storm Uri) • Completed 124 C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 1 1 RHDA/OHDA Investment by Funding Type FY11-12 – FY20-21 Bond Oversight Commission 5,000+ income restricted units 75% from GO Bonds AHFC Investment >$181 million C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 1 2 RHDA/OHDA Investment by Affordability Level Bond Oversight Commission 584 units below 30% MFI 3,000+ units below 50% MFI 486 Affordable Ownership units C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Production Pipeline by Year of Estimated Completion Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission CoC Pipeline by Year of Estimated Completion Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 1 5 Espero at Rutland – AHFC Partnership • Partnership with Caritas of Austin and Vecino Group Bond Oversight Commission 2018 Affordable Housing Bond Investments • 171 units • 100% Affordable • 101 Dedicated to the Continuum of Care • Fall 2022 C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 1 6 2018 Affordable Housing Bond Investments Vi Collina – AHFC Partnership • Oltorf at Pleasant Valley • Partnership with O-SDA • 170 units – 71 < 50% MFI • 100% Affordable • 81 – 2BR units • 41 – 3BR units • Leasing now Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 1 7 A F F O R D A B L E H O U S I N G UPCOMING HIGHLIGHTS RESOURCES • Community Land Trust Lottery https://www.aclt-homes.org/ • Affordable Housing Development Assistance http://www.austintexas.gov/page/affordable- housing-development-funding Bond Oversight Commission • AHFC FY 2021-2022 Capital Budget https://www.austintexas.gov/department/city- council/2021/20210811-ahfc.htm • Project Connect Anti-Displacement Community Acquisition Program https://www.austintexas.gov/sites/default/fil es/files/Housing_%26_Planning/Project%20C onnect/Community%20Acquisition%20Progr am/Final_ADCAP_Guidelines.pdf • Affordable Housing + Transit Online Tool: https://austin.maps.arcgis.com/apps/MapSeries/ind ex.html?appid=b689c16a4db143698166b57a7abb8 76e • Hotel Conversion underway C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Q U E S T I O N S Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 Bond Oversight Commission Bond Oversight Commission B o n d O v e r s i g h t C o m m i s s i o n P r e s e n t a t i o n A p p e n d i x C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 0 APPENDIX A: Austin Finance Online austintexas.gov/financeonline/finance/ A central repository for financial documents and information, including performance management, checkbook, unclaimed property, procurement, and hotels/short term rental information. Bond Oversight Commission KEY DOCUMENTS • Capital Improvement Program (CIP) 5-Year Plans • Capital Projects Explorer • Comprehensive Annual Financial Report (CAFR) • Debt Transparency Documents • Bond Statements C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 1 APPENDIX B: Capital Projects Explorer A single entry point for the community of Austin to find information about capital infrastructure investments Bond Oversight Commission capitalprojects.austintexas.gov • Information for ALL capital projects (excluding Austin Energy), regardless of funding source • Description • • Status/Phase Location • • Districts • Contact Info • Approved Budget • Obligated Funds • Anticipated Type Construction Start and End Dates • Filters Available • 2016 and 2018 Bonds • District(s) • • Stage • Responsible Department Infrastructure Type C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 2 APPENDIX C: Public Improvement Bonds Overview data.austintexas.gov/Budget-and-Finance/Public-Improvement-Bonds-Overview/s39q-8hvy/data An overview of public improvement bond project financial data that is updated on the first of every month Bond Oversight Commission • Public Contact and Phone # Information for Public Improvement Bond Projects • Bond Year (since 1998) • Proposition • Prop Name • Bond Category • • Bond Prop Amount • Project ID • Project Name • Project Open/Close Fund • Project Manager and Status Phone # • Project Current Phase • Bond Appropriation • Bond Encumbrance • Bond Expenditures • Bond Obligated • Bond Balance • % Bond Appropriation • % Bond Amount C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 3 APPENDIX D: City of Austin Open Budget - Capital budget.austintexas.gov/#!/year/All%20Years/capital/0/fdu_sponsor_department Data that provides appropriation-to-date and expenses-to-date metrics for active capital projects, which can be funded through multiple fiscal year capital budgets. Interactive tool with appropriation and expense data for: Bond Oversight Commission Departments Projects Subprojects C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 4 APPENDIX E: Long Range CIP Strategic Plan https://www.austintexas.gov/sites/default/files/files/Planning/LRCSP_FINAL_FY19-21.pdf Plan that looks out into a 10-year or longer planning horizon and provides the basis for identifying both ongoing capital needs and strategic opportunities for capital investment. Bond Oversight Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 5 APPENDIX F: Groups That May Provide Capital Project Oversight austintexas.gov/department/boards-and-commissions Bond Oversight Commission Austin Travis County EMS Advisory Board Austin Housing Finance Corporation Boards and Corporations Arts Commission Examples of Applicable Groups Committee of Council Health and Human Services Committee Audit and Finance Committee Mobility Committee Boards and Commissions Comprehensive Plan Joint Committee Construction Advisory Committee Downtown Commission Housing Authority of the City of Austin Library Commission Mexican American Cultural Center Advisory Board Music Commission Urban Transportation Commission C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 6 2006 2012 2016 2020 2010 2013 2018 Brochures, Ballot Language and Contract With The Voters (If Applicable) Bond Oversight Commission austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/BEATF/2006BondBrochure.pdf Brochure Brochure Brochure 2006 2010 2012 2013 Ballot Language austintexas.gov/election/byrecord.cfm?eid=154 austintexas.gov/sites/default/files/files/Capital_Planning/mbondbrochure.pdf Ballot Language austintexas.gov/election/byrecord.cfm?eid=192 austintexas.gov/sites/default/files/files/Communications/Web_Content/2012Bond%20Brochure%202012%20Web.pdf Ballot Language austintexas.gov/election/byrecord.cfm?eid=196 Ballot Language austintexas.gov/election/byrecord.cfm?eid=197 Voter-Information Flier austintexas.gov/sites/default/files/files/Capital_Planning/Bond_Development/2013_Bond/FINAL_Affordable_Housing_Bond_Voter_Information_Flier.pdf Continued on next page. C I T Y O F A U S T I N | F e b r u a r y 1 6 , 2 0 2 2 B o n d O v e r s i g h t C o m m i s s i o n | p g . 2 7 2006 2012 2016 2020 2010 2013 2018 Bond Oversight Commission Brochures, Ballot Language and Contract With The Voters (If Applicable), Continued Continued from previous page. austintexas.gov/sites/default/files/files/Capital_Planning/2016_Bond/2016_Bond_Voter_Information_Brochure__English.pdf Brochure 2016 Ballot Language austintexas.gov/election/byrecord.cfm?eid=201 Contract with the Voters RESOLUTION NO. 20160818-074 : austintexas.gov/edims/document.cfm?id=262118 Brochure austintexas.gov/sites/default/files/files/Finance/CFO/2018-Bond/COA_2018Bond_Booklet.pdf 2018 Ballot Language austintexas.gov/election/byrecord.cfm?eid=205 Contract with the Voters RESOLUTION NO. 20180809-061: austintexas.gov/edims/document.cfm?id=304077 Brochure austintexas.gov/sites/default/files/files/Finance/2020MobilityPropsBrochure100220_web.pdf 2020 Ballot Language austintexas.gov/edims/document.cfm?id=346093 Contract with the Voters RESOLUTION NO. 20200812-011 : https://www.austintexas.gov/edims/document.cfm?id=346328