AUSTIN (KXAN) - The affordable housing bond voters will decide on this November is getting a lot of attention.
A grassroots organization is making a big push on Monday to encourage voters to support it.
Keep Austin Affordable claims that Austin is considered one of the top ten cities in the country with the highest rental rates and they state it’s important to keep affordable housing within city limits.
That's why Monday afternoon the Austin, Hispanic, and African American Chamber of Commerce's as well as the Austin Board of Realtors is joining together to talk about why it is needed.
The $65 million bond would pay for the construction and repairs to homes and apartments for those making 50 percent or less of the median family income.
That amounts to about $39,000 for a family of four.
The $55 million housing bond package that voters approved back in 2006 has been spent on creating 3,400 homes for low income, disabled, and senior residents.
According to Keep Austin Affordable it has in turn brought in $865 million to the Austin economy.
Last November voters turned down a $78 million housing bond by just 7,000 votes.
A group called the Travis County Taxpayers Union is opposing this bond saying it's debt the city shouldn't take on.
Election Day is November 5th.
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