Proposition E: Affordable Housing
The issuance of $15,000,000 of bonds for Affordable Housing, and levying a tax in payment thereof.
Proposition E allocates funding for planning, designing, acquiring, constructing, renovating, improving, and equipping affordable housing facilities and related infrastructure for low and moderate-income persons and families, acquiring land and interests in land and property necessary for such purposes, funding affordable housing and home repair programs as may be permitted by law, and funding loans and grants for affordable housing purposes, all pursuant to the City’s economic development programs now or hereafter approved.
The City of Denton’s Affordable Housing Toolkit addresses the growing demand for diverse housing opportunities and identifies five main housing priorities:
- Rental housing options available to Denton residents at all income levels
- Home ownership options available to Denton residents at all income levels
- Options available for seniors to age in place with access to key services
- Permanent and accomodative housing options for people with disabilities and people experiencing homelessness
- Safe, healthy housing for all families in Denton, connected to community services, reliable transportation, fair-wage employment, and quality health care
To learn more about the City’s Affordable Housing Toolkit and related activities, visit Discuss Denton.
The funding would be used for the following general affordable housing purposes:
- Purchase land for use with housing partners to develop affordable housing units
- Fund grants and low-interest loans to facilitate the development of new affordable housing
- Fund the City of Denton's technical, financial, and structural ability to develop and implement affordable housing resources
- Fund preservation of, improvements to, and equipment for existing affordable housing facilities
The project aims to achieve multiple outcomes:
- Develop new affordable housing units to accommodate low- and moderate-income families, and to diversify housing options within the community
- Enable a larger number of families to secure and maintain suitable housing
- Create diverse and equitable housing opportunities
- Preserve existing affordable housing units and long-term accessibility of affordable housing
- Create additional sustainable long-term housing opportunities for seniors, persons with disabilities, and persons experiencing homelessness
- Address quality of life issues for families and neighborhoods through initiatives related to living conditions, safety, and access to essential services
Estimated Project Total: $15,000,000
The potential projects detailed represent the program the City Council intends to undertake to accomplish the intent of the approved bond propositions; however, projects may change. In that event, the Council may direct proceeds be expended for other projects within the voter-authorized purposes of each proposition.
Note: Bond issuance schedules and estimates are dependent upon a variety of factors and subject to change.