Description
Title: Authorize negotiation and execution of an amendment to the agreement with the Housing Authority of the City of Austin to fund and administer the Tenant-Based Rental Assistance Program, which provides housing opportunities through subsidies to individuals and families experiencing homelessness, to increase the amount of the contract by $1,419,448 for a revised total contract amount not to exceed $2,838,896. Funding: $1,419,448 is available in the Fiscal Year 2026-2027 Operating Budget of the Austin Housing Finance Corporation contingent upon funding from the HOME Investment Partnership Program.
Summary
The City of Austin is considering an amendment to its agreement with the Housing Authority of the City of Austin (HACA) to enhance the Tenant-Based Rental Assistance (TBRA) Program, which provides housing subsidies to individuals and families experiencing homelessness. This proposal seeks to increase funding by $1,419,448, raising the total contract amount to $2,838,896. The funding is contingent upon the Fiscal Year 2026-2027 budget and support from the HOME Investment Partnership Program. The TBRA Program aims to assist households with incomes at or below 50% of the area's median income, allowing eligible families to receive rental assistance for up to 24 months. This initiative will impact up to 65 households, helping them transition towards self