20250909-007 - Reopen the ADCAP Application to coincide with the beginning of the Fiscal Year 2026 — original pdf

Recommendation

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 2021 to 2024 and $3.6 million of that $8 million has been utilized as of date, impacting over 20 units serving multifamily use. 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: September 9th,2025 Record of the vote: The motion to approve the recommendation to reopen the ADCAP Application was approved on Commissioner Tisha’s motion, Commissioner Ortiz seconded on an 8-2 vote. Commissioners Lyric and Medrano abstained. Attest: _____________________________________________