Austin Homeowners Receive $10 Million in Assistance Amid Project Connect Expansion

Austin Homeowners Get a Financial Boost Amid Project Connect Expansion

AUSTIN, Texas — If you’re a homeowner in Austin, you might have heard some buzz about Project Connect, the city’s ambitious transit expansion project. But what may have kept you up at night is the fear of being displaced due to rising property taxes and gentrification. Well, worry no more! The city of Austin has just rolled out an additional $10 million in funding to help homeowners affected by this growth.

The Support is Here!

The city’s Housing Department and the Austin Housing Finance Corporation are teaming up to provide a whopping $10.9 million to the Project Connect Community Initiated Solutions (CIS) partners. That’s right! A total of 13 organizations are on board, working tirelessly to create solutions that protect our community members from being pushed out of their homes. Among these allies is the Del Valle Community Coalition, a powerhouse organization helping homeowners stay secure in these uncertain times.

Understanding the Fear

“There’s this huge fear that a lot of our community would be displaced because of property taxes and gentrification,” mentioned Susanna Ledesma Woody, the president of the Del Valle Community Coalition. It’s a sentiment many share as the landscape of Austin dramatically shifts. Thankfully, these CIS partners have rolled up their sleeves and are working hard to lend a helping hand.

Helping Hands for Homeowners

The Del Valle Community Coalition is all about keeping homeowners afloat. They offer financial aid of up to $4,000 a year and provide essential education on homeownership. “We’re trying to create generational wealth,” Woody explained, underscoring the importance of financial stability for future generations. With this latest funding boost, they’ll be able to extend their Homeowner Resilience Program for three more years!

Who Qualifies?

So, you might be wondering, “Am I eligible for this assistance?” Well, to qualify for the Homeowner Resilience Program, you must meet a few criteria:

• Be a homeowner
• Live within one mile of the proposed new Project Connect lines
• Be considered “at risk” for displacement
• Earn 80% or below the Median Family Income level
• Complete 10 hours of education classes provided by the Del Valle coalition

Ready to take action? You can find the application online!

Expanding the Wealth of Knowledge

Life Anew Restorative Justice is another noteworthy recipient of the funding. They received $2 million in the first round to support their Anti-Displacement Property Ownership program. This program focuses on estate planning and educating families about land ownership. Sherwynn Patton, the co-executive director, emphasized the significance of passing on generational wealth through property ownership.

“We’re realizing… it’s important for families to be able to pass on generational wealth, and oftentimes that’s done through property ownership,” Patton shared. “Without having a clear deed and communicating with the next generation, those assets are usually lost.” As Austin’s housing market tightens, it’s crucial to protect the community’s cultural roots.

Preserving the Heart of Austin

Patton also underscored a vital point—maintaining the essence of the city is key. “What we’re looking for is to ensure that we secure the culture, that we celebrate the culture, and that we give people a sense of belonging here in Austin,” he said. This is especially important as more families find themselves getting priced out of the area.

A Collaborative Effort

But it’s not just the Del Valle Community Coalition and Life Anew making waves. Other organizations involved in the project include Meals on Wheels Central Texas, focused on assisting senior renters and homeowners, and Goodwill, which helps individuals enroll in workforce training for higher-paying positions. You can check out the full list of partners and services provided on the city’s website.

All in all, with this added financial backing, Austin is stepping up to ensure its residents don’t lose their homes or sense of community amidst all the changes. This effort is certainly one to cheer for as the fight against displacement continues!