Austin Community Foundation - Housing Accelerator Fund Agenda Item w TCHFC

T his article  is a quick read to summarize the Accelerator Fund that the Austin Community Foundation has created as a tool to provide gap funding for affordable housing deals.  I support us contributing to this fund in order to leverage a larger pool of money to catalyze success for affordable housing projects that meet local needs and may otherwise struggle to close in a timely fashion.  This fund is what I call "smart money" that developers can access at the precise time they need it to make the deal happen.  Losing these affordable housing deals often results in no deal or a deal without affordable units.