Item 3- (20250909-7) Reopen the ADCAP Application to coincide with the beginning of the Fiscal Year 2026 — original pdf

Backup

BOARD/COMMISSION RECOMMENDATION Community Development Commission Recommendation Number: (20250909-7) Reopen the ADCAP Application to coincide with the beginning of the Fiscal Year 2026 WHEREAS, in November of 2020, Austin voters approved $300M to fight displacement caused by the Project Connect proposed rail line; WHEREAS, in December 2021, the Austin Housing and Planning Department launched the Anti- Displacement Community Acquisition Program (ADCAP); WHEREAS,, the ADCAP provides zero-interest, refundable and non-refundable forgivable loans to non- profits for the acquisition of land and property; WHEREAS, the ADCAP aims to grow and further the production of affordable housing; WHEREAS, the ADCAP aims to protect housing and land from speculation caused by Transit Oriented Development (TOD) in gentrifying areas; WHEREAS, , the ADCAP was allocated $8 Million for this purpose; WHEREAS, the ADCAP had a rolling application process from to. WHEREAS, in October 2024, the Housing Director called for a pause in the program to review and identify opportunities for improvement. WHEREAS, the Housing Department Staff made long-term recommendations that require council approval; WHEREAS, the Housing Department Staff also made short-term recommendations that can be implemented now; NOW, THEREFORE, the Community Development Commission encourages the Austin City Council to adopt the proposed short-term recommendations to improve the program. BE IT RESOLVED, the Community Development Commission advises the Austin Housing Staff to reopen the Anti-Displacement Community Acquisition Program application to coincide with the beginning of Fiscal Year 2026. Date of Approval: _____________________________ Record of the vote: Attest: _____________________________________________