Proposed Dallas bond package addresses housing shortage
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A $1 billion municipal bond program in Dallas should prioritize funding affordable housing, advocates say.
Driving the news: Council members have started hosting town hall meetings this month for residents to learn about the proposed 2024 bond program and give input on how funding should be prioritized.
- City leaders say the bond program won't result in a tax increase.
Why it matters: Dallas lacks sufficient affordable housing and has more overcrowded apartments than the rest of North Texas and a higher poverty rate than the rest of the region.
- City staff suggest Dallas should add 100,000 units in the next decade.
Details: City leaders have identified five issues that would receive funding in the bond program: streets, parks, city facilities, flood control and economic development, including housing and homeless services.
- In preliminary proposals, streets and sidewalks would receive the most bond money, followed by parks and recreation facilities.
- About $150 million could be allocated toward housing.
- The bond money would be distributed over five years.
By the numbers: More than half of the nearly 600,000 single-family homes and multifamily housing units in Dallas were built before 1980, per a presentation to the housing committee in April.
- More than 25,000 units are listed as undesirable to fair condition by the Dallas Central Appraisal District.
- About 13,000 units have low-income housing tax credits that expire this year.
Flashback: Dallas voters have approved bond programs in the past two decades that had modest contributions toward housing.
- There have been 957 housing units developed from the 2006, 2012 and 2017 bond elections, per city presentations.
What they're saying: Mayor Eric Johnson has said parks are his priority, "but I think housing is a top second," Builders of Hope CEO James Armstrong III said during a Habitat for Humanity event last week.
- "When 52% of our renters are housing-cost burdened, it's not a far tumble from having a safe, quality place to live to living on the street, possibly in one of our new parks."
Meanwhile: San Antonio voters approved a $1.2 billion bond package last year, with $150 million earmarked for affordable housing projects.
- Austin voters also approved a bond project last year to put $350 million toward building new affordable housing and repairing current homes for low-income residents, per the Austin-American Statesman.
What's next: The Community Bond Task Force will submit a final list of recommended projects in November, and the city manager will present the bond program to councilmembers in December.
- In January, the City Council will finalize the bond program and call the election for May 2024.