Bastrop County seeks affordable housing

Deal with Texas Housing Foundation aims for ‘quality workforce’ developments.

Bastrop County has signed a deal with the Texas Housing Foundation in hopes of bringing more affordable housing developments to the county.

Founded in 1995, the foundation is a private-public entity that helps communities across Texas in need of affordable housing add “quality workforce housing” to its residential stock. It was founded by Mark Mayfield, director of the Marble Falls Housing Authority, to address flaws in governmental housing programs.

The foundation uses long-term bonds to finance the development of the projects. The projects developed through the foundation are exempt from certain taxes, including ad valorem taxes, due to the foundation’s status as a private-public entity.

Developments are sold off to private owners only after the duration of their bonds, which Mayfield said is usually 30 to 40 years.

These advantages give developers the ability to keep rental prices low for eligible low-income families, elderly people or those with disabilities.

Rents are set by income levels and are usually 20 percent to 30 percent below the market rate, although they are not considered Section 8 housing, “because that system is not meeting the needs of communities,” Mayfield said.

The foundation has been involved in 47 properties across 32 communities in the state, including Waco, Liberty Hill and Georgetown.

The Williamson County Commissioners Court is considering joining the foundation. Bastrop County commissioners passed the motion unanimously after first hearing Mayfield’s offer this month.

“Try and not reinvent the wheel yourself, and use the experts around you,” Bastrop Mayor Connie Schroeder said before the commissioners.

“And I think that’s what the Texas Housing Foundation offers to Bastrop County.”

“We’ve got a high number of vets, and seniors with fixed incomes, and some with disabilities that would also be able to utilize this housing, instead of being in places where they are currently, which is not safe in many areas around this county,” said Bastrop County Cares Director Debbie Bresette. “It’s a good value proposition for this community.”

The foundation, which is privately funded, plans to renovate and manage the Bastrop Oaks I and II Apartments in Bastrop and the Meadow Park Apartments in Elgin, investing about $2.6 million and $1.6 million into the two properties, Mayfield said.

The overhaul includes new lighting, cabinets, flooring, paint and appliances for 62 units on Wilson Street in Bastrop and 41 units on Texas 95 in Elgin. The parking lots and grounds will be upgraded, Mayfield said, and workers will install new heating, insulation and air conditioning systems, as well as energy-efficient windows.

Both projects were funded by bonds from the Texas Department of Community Affairs and Housing.

“It’s definitely something Bastrop County needs and could benefit from,” County Judge Paul Pape said.