States and local jurisdictions have the authority to issue bonds, including general obligation and private activity bonds, to support specific goals and objectives or projects. Private Activity Bonds (PAB) are issued by the state in conjunction with 4% low-income housing tax credits for specific development projects, while General Obligation (GO) Bonds may be issued by either a state or a locality for a variety of purposes, including development, renovation, and preservation of affordable housing. GO Bonds are subject to voter approval. Novogradac maintains a resource guide and links to state allocating agencies.
- Example: Austin Affordable Housing Bond
Austin voters approved a bond proposition that provides $65 million to support repair, construction, renovation of affordable housing for low-income people and families. [url; City of Austin, 2013]
- Austin Housing Repair Coalition (AHRC) Report on GO Repair Program Impacts
Outlines health and well-being impacts of funding from the 2006 Housing Bond. [url; Community Advancement Network, 2012]
- 2006 Affordable Housing Bonds Provide Crucial Return on Investment
[url; City of Austin, 2006]