2023-2024 Austin City Budget Allocations Impacting Multifamily Communities

City Budget Allocations Impacting Multifamily Communities

The City of Austin adopted a substantial $5.5 billion budget, featuring several provisions that directly impact multifamily residents and property owners. These provisions include:

• Multifamily CAP Program: In fiscal year 2020-21, Austin Water introduced the Multifamily CAP program. This initiative benefits low-income customers who lack dedicated water meters but still pay for monthly water and wastewater services. It provides a $17 monthly credit on their Austin Energy utility bills, represented as the Austin Water Multifamily CAP Program Discount.

• Tenant Stabilization Funds: An allocation of $1.6 million dollars has been earmarked to address tenant stabilization concerns.

• Program for Owners and Tenants: $562,000 in continual grant funding from the Department of Energy to Austin Energy. This funding aims to explore new demand response enabling technologies and a dual incentive concept that rewards both tenants and property owners.

• Property Protection Funds: Notably, funds have been allocated to protect specific multifamily properties from erosion and drainage issues. For example, the Little Walnut Creek - Jamestown Tributary Erosion and Drainage Improvements project, with a budget of $10.8 million, will commence construction in mid-fiscal year 2023-24. This project's significance extends to safeguarding private properties, parking lots for multifamily and commercial properties, the Thurmond Street culvert, storm drain outfalls, utility poles, and trees.

• Austin Police Budget Information: A notable aspect of the budget pertains to the Austin Police Department (APD). The overall APD budget has seen an increase of $38,757,871, with a particular focus on the Neighborhood Based Policing Budget, which received an augmentation of $25,567,180. This allocation represents nearly half of APD's budget for the fiscal year 2023-24. The Neighborhood Based Policing strategy employs directed patrols and tactical teams to supplement regular patrols, thereby addressing ongoing crime issues. This approach also includes Patrol Support, which encompasses district representatives and detectives, commonly used in crime reduction and prevention strategies. Additionally, community engagement time for patrol officers has been emphasized to facilitate proactive policing and strengthen relations with the communities they serve.

***The Austin Apartment Association Advocacy Committee will be working with the Austin Police Department to increase patrol, response times, and preventative crime measures surrounding multifamily communities.***