The SMART housing program in Austin, initiated in 2000 to address housing supply challenges, is set to receive amendments aimed at enhancing its effectiveness. In a recent Planning Commission meeting, city housing officials proposed changes to improve the program's affordability standards and its interaction with other housing incentives. This review process started in 2023, following a Council resolution to find areas for improvement. As of 2024, the program's affordability threshold is set at 80% of the Median Family Income, equating to around $100,000 for a family of four.
The SMART program, introduced in 2000 to tackle housing supply issues, is set for amendments aimed at enhancing its operation and functionality in response to community feedback.
Given the city's significant growth, the amendments to the program focus on affordability standards, ensuring that housing remains accessible to those earning around $100,000 annually.
Stakeholders feel the need to reassess how the SMART program interacts with other housing incentives, ensuring a cohesive approach to affordable housing in Austin.
City officials aim to refine the SMART program by introducing changes that affect its affordability component and its synergy with other incentive programs.
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