Education
LTISD considers creating workforce housing The Lake Travis ISD board of trustees discussed forming a public facility corporation to offer rent- and income-restricted housing to district staff at an April 17 meeting. The overview By establishing a public facility corporation, which would be governed by the board of trustees, LTISD could own and lease a property to a developer who would build and run the multifamily housing development. The PFC would provide a 100% property and sales tax exemption to the developer under the condition that over 60% of units were reserved for residents making under 80% of the area median income of $126,000, Shackelford Law representative Kara Hargrove said. Rent for the units could not exceed 30% of those AMI levels, she said. The district could reserve a certain number of
LISD improves in recruiting staff
The process The creation of a public facility corporation allows the district to form partnerships with developers that are advantageous to both parties.
Local government entity creates PFC
Leander ISD has made progress in recruiting and retaining staff members over the last two school years, according to new district data presented at an April 11 board of trustees meeting. The improvements follow a couple years of increased vacancies amid a nation- and statewide teaching shortage; however, some vacancies still exist in the district, LISD officials said. By the numbers District data shows LISD retained 81% of all staff members last school year compared to 76% in the 2021-22 school year. The district also improved retention amongst special education teachers, retain- ing 81% of special education teachers last school year versus 78% in 2021-22.
Developer proposes mixed-income housing
If approved by PFC, developer attains financing from banks or lenders PFC takes ownership of land and leases it back to developer
Developer builds housing
PFC provides tax exemption allowing developer to rent units below market rates
SOURCE: TEXAS AFFILIATION OF AFFORDABLE HOUSING PROVIDERS/COMMUNITY IMPACT
units for staff members and negotiate making the units more affordable if desired, Hargrove said. The board plans to vote on whether to form a PFC at the May 15 meeting, after press time.
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