Editor’s note: Early voting for Fort Worth’s May 2 election opens April 20. In the lead-up, the Report is breaking down each bond proposition and charter amendment on the ballot. Find the other articles here as they are published.
Fort Worth residents will consider approving $10 million for affordable housing, as part of the city’s $845 million bond program that goes before voters in the May 2 election.
Proposition D authorizes the sale of $10 million in general obligation debt for affordable housing.
The money could be used to plan and build projects ranging from repairs to improvements or complete replacement of existing housing. City staff would select the projects, teaming with public and private partners as the opportunities arise, and forwarding them to the City Council for final approval.
“Any project would ultimately come to the council for approval,” Jay Chapa, the city manager, told council members during a recent meeting.
The proposition is the first in Fort Worth to dedicate funds to affordable housing. Early voting on the overall bond program, a slew of charter amendments that includes one to increase pay for the mayor and council members, and a special election to fill the far north Fort Worth District 10 seat will run April 20-28.
Some specific uses of the Proposition D money, as stated on the ballot, include buying property, building infrastructure, underwriting home repair programs, and funding loans and grants, all for affordable owner-occupied or rental housing.
“We will be working with existing partners” like the Fort Worth Community Land Trust, Chapa told council members. The Land Trust teams with developers, builders and nonprofits to build affordable housing. The trust acquires the land and retains ownership of it; homebuyers buy the homes.
Fort Worth would target residents making up to 120% of area median income — $89,000 for an individual and $128,000 for a family of four.
Affordable housing programs often target lower income families making 80% or 60% of AMI or less. Why the 120% level for the city’s program? “There’s a lack of housing in that area,” Chapa told council members. “If you develop that, folks move into that” and open up lower-priced existing housing for others.
The city had considered an $840 million bond program that included $5 million for affordable housing, but after advocates and several City Council members sought more money for that proposition. The council then increased the overall program to $845 million by expanding debt capacity and then allocated the extra $5 million to housing.
Scott Nishimura is senior editor for local government accountability and a Fort Worth City Hall reporter at the Fort Worth Report. Contact him at scott.nishimura@fortworthreport.org.
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