Are there onerous federal government regulations that would impact Williamson County and our citizens if THF were allowed to build here?
Answer: THF utilizes tax credit financing and tax-exempt private activity bond financing that allow it to operate largely free of the traditional governmental regulations associated with affordable housing.
Is there a need for workforce housing in Williamson County?
Answer: Medium income in Williamson County is $88,000, based on a 4-person family. Forty two percent of Williamson County residents have been designated as rent over-burdened, which means their rent is greater than 40% of their income. While Williamson County has such housing in Round Rock, Cedar Park, Georgetown and Liberty Hill, all but the newest one in Cedar Park are full with waiting lists.
Is there workforce housing already existing in Williamson County?
Answer: Yes. Atlantic Housing, with Texas office in Dallas, has 2 communities in Round Rock area, Pedcor Investments, based in Indiana, has existing communities in Cedar Park and Georgetown with others on the way in Round Rock and Georgetown. Texas Housing Foundation co-developed a 180 unit complex in Georgetown in 2013. The housing authorities of Georgetown, Round Rock, and Taylor manage a limited number of properties, primarily for very low-income people.
What is the difference between “affordable” housing and “workforce” housing?
Answer: Whereas affordable housing is highly subjective on what is actually affordable, i.e. what may be affordable for you, may not be affordable for someone else, workforce housing is defined as housing for those who work and have low to moderate incomes that is insufficient to secure quality housing. THF primarily seeks to provide housing deemed affordable for those making 30-80% of the area’s medium income of $88,000, so household incomes between $26,400 and $70,400. Think about the types of jobs that fall into this range like teachers, law enforcement, firefighters, hourly workers, retirees.
What is the point for making Williamson County a board member of THF?
Answer: Simply put, board membership in the THF shows local support of the efforts of a nonprofit organization to develop workforce housing in Williamson County, and furthermore, it gives the County a voice in where this housing is built. All of this is done without any financial stake from the County.
For more information, please visit http://www.txhf.org/