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TRAVIS COUNTY CDBG, TEXAS

PURCHASE OF LAND

Land Acquisition Project

Amount Awarded from 2006-2009: $945,518

Grants or Loans: Assistance is in the form of a 10-year forgivable loan with no required payments, in other words, homebuyers must live in the home for 10 years before the loan is forgiven. If the house is sold, refinanced, leased or title transferred within 10 years, the loan must be repaid based on the following schedule:

Purchase of land to construct affordable homes in the unincorporated areas of the County.

Years 1-5:100% Year 6: 100% Year 7: 80% Year 8: 60% Year 9: 40%

Gilbert Lane

Year 10: 20% Year 11 & Beyond:0%

V U 45N

V U

) " 620

130

V U 360

£ ¤ 290

V U 1

« ¬

§ ¦ ¨

71

35

^

« ¬ 71

£ ¤ 183

V U 45SE

Investment Impact Approximately 27 low to moderate income families will have the opportunity to buy these homes at zero-percent interest financing.

Location: Lots 3-7 and 9-30 on Bartney Cove in the Gilbert Lane Subdivision. Gilbert Road in Eastern Travis County, ½ mile east of State Highway 130 and ½ mile north of FM 969. Sources of Funding: CDBG Funds Program Year 2006: $ 250,000 Program Year 2007: $ 195,518 Program Year 2008: $ 500,000 Project Schedule: Closing on land anticipated to occur before October 15, 2010. Construction of houses within 5 years of land purchase.” Project Status: Closing on land is pending. Project History: PY 06-07: No funds spent. PY 08: No funds spent. Site approval not provided for first property Project Manager: Travis County Health and Human Services & Veterans Services-CDBG Office

Objective: Increase the affordability of owner housing

Environmental Consultant Crespo Consulting Services

Affordability Approximately 27 units for 10 years

Environmental Sub-Consultant Cox McLain Environmental Consulting*

Award Recipient: Austin Habitat for Humanity

*Minority Business Enterprise/Women’s Business Enterprise (MBE/

Eligibility: Low to moderate income families

LAST UPDATED DECEMBER 2011

WBE)


Cdbg land for the construction of affordable homes final  
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