Item4--Equity Overlay CDC Briefing, 11.12.24 — original pdf

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Equity Overlay Study Update Community Development Commission (CDC) November 12, 2024 Council Direction  Study the feasibility, merits and risks of an equity/anti-displacement overlay and the impacts that such an overlay could have on affordability, and displacement, and property values should we modify the proposed standards by geographic area and lowest income census tracts  Focus is to mitigate speculation and displacement in areas most affected by gentrification  Explore both short- and long-term consequences of such an overlay  Study should be based on the latest data and trends regarding geographic areas experiencing and vulnerable to displacement 2 Equity Overlay Staff Workgroup  Staff created an interdepartmental staff workgroup consisting of members from: – Equity Office – Planning Department – Housing Department  Workgroup is responsible for handling the deliverables of the equity overlay study requested by City Council 3 Equity Overlay Study  Leadership from the Equity Office, Housing Department, and Planning Department collaborated to identify a consultant to conduct a study about the feasibility, merits, and risks of an equity overlay  Study to include multiple phases – Phase 1 – Community Outreach and Engagement – Phase 2 – Policy/Program Study and Analysis – Phase 3 – Risk of Displacement – Phase 4 – Final Reporting and Presentation 4 Who is APD-Urban Planning Management?  Minority-owned consulting firm from Atlanta established in 1990  Over 40 years of national expertise on neighborhood planning, housing development, affordability policies, and equitable community development  Displacement risk mitigation expertise  Values: – Commitment to public participation & meaningful engagement – Building relationships with community stakeholders – Acknowledging the values rooted in social & cultural context of a neighborhood  Visit www.apdurban.com for more information 5 APD-U Notable Projects  Beltline Community Stabilization Program – Promote community stability and mitigate displacement risk – Developed strategies to reduce property tax burden – Recommendations for effective policies for homeowner populations most at risk of displacement  Anti-Displacement Tax Relief Fund – Public/private partnership – Extensive outreach – Developed policy and implementation strategies – Designed anti-displacement tax relief fund policy 6 Analyzing Impacts of Land Use Changes  Staff from the Housing and Planning Departments are collaborating with research professors from the University of Texas and the University of Oklahoma to study the impacts of land development policy changes  Purpose of the study is to: – Assess the effects of land use policy changes that have already been implemented – Compare the effects of land use changes in Austin to those in peer cities – Develop a framework for the evaluation of future changes 7 Next Steps/Timeline – Equity Overlay Study  Phase 1 – Community Outreach and Engagement – November 2024 – February 2025 (ongoing)  Phase 2 – Policy/Program Study and Analysis – January 2025 – Spring 2025  Phase 3 – Risk of Displacement Analysis – February 2025 – Summer 2025  Phase 4 – Final Reporting and Presentation – Summer 2025 8 Next Steps/Timeline – UT Study  Austin Policy Literature Review – Spring 2025  Austin Land Use Policy Analysis – Summer 2025  HOME Analysis Framework – Fall 2025 9 Contact Us  Alan Pani, Planner Principal Alan.Pani@austintexas.gov, (512) 974-8084 10 Thank you