HomeMy WebLinkAboutORD 2012-49 - Housing ElementORDINANCE NO. c;bla
An Ordinance of the City Council of the City of Georgetown, Texas,
Adopting the 2030 Comprehensive Plan: Housing Element in accordance with
Chapter 1.08 of the Georgetown City Charter and Functional Elements Thereof
and amending Chapter 1.12.: Georgetown Comprehensive Plan of the Code of
Ordinances ; repealing conflicting ordinances and resolutions; including a
severability clause; and establishing an effective date.
Whereas, the City Charter of the City of Georgetown was amended by vote of the
people in April 1986 such that comprehensive planning was established as a continuous and
ongoing governmental function; and
Whereas, Ordinance Number 2008-07 did amend Chapter 1.12 Georgetown
Comprehensive Plan in the Code of Ordinances of the City of Georgetown defining the
Comprehensive Plan and elements adopted thereof; and
Whereas, the Housing Advisory Board, serving as the Steering Committee utilized the
findings of these interviews to establish the study area and define thresholds for analysis; and
Whereas, the Housing Advisory Board met to review existing conditions, demographic
trends and market forecasts for the City of Georgetown for use in creation of the 2030
Comprehensive Plan: Housing Element; and
Whereas, the Housing Advisory Board did recommend to City Council approval of the
draft 2030 Comprehensive Plan: Housing Element, on July 11, 2012; and
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
Section 1. The facts and recitations contained in the preamble of this ordinance are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
ordinance implements provisions of the 2030 Comprehensive Plan.
Section 2. Chapter 1.12, Georgetown Comprehensive Plan, of the Code of Ordinances
of the City of Georgetown is hereby amended as follows:
Sec. 1.12.100. Recd. Functional housing plan adopted.
In accordance with Chapter 1.08, Subsection 2 of the City Charter, the City Council of the
City has adopted that certain document entitled "2030 Comprehensive Plan: Housing
Element' for the purpose of directing the City Council, staff, and/or commissions in
rendering actions and resolutions relating to the utilization of all of the available resources
within the City and its planning area for the purpose of developing a diverse and sustainable
housing stock. This document is dated August 14, 2012 and may be amended from time to
time.
Ordinance Number: go 1 ,;� / Page 1 of 2
Description: Housing Element
Date Approved: 8-14-2012
Editor's note: Copies of the "2030 Comprehensive Plan: Housing Element " are available in both
the office of the City Secretary and the Planning and Development office.
Section 3. The 2030 Comprehensive Plan: Housing Element shall be implemented in
accordance with the Administrative procedures of the 2030 Comprehensive Plan, consistent with
state law and Unified Development Code notification and procedures.
Section 4. All future ordinances of the City implementing elements of the 2030
Comprehensive Plan: Housing Element shall be in conformity with the adopted 2030
Comprehensive Plan: Housing Element.
Section 5. All ordinances and resolutions, or parts of ordinances and resolutions, in
conflict with this Ordinance are hereby repealed, and are no longer of any force and effect.
Section 6. If any provision of this ordinance or application thereof to any person or
circumstance shall be held invalid, such invalidity shall not affect the other provisions, or
application thereof, of this ordinance which can be given effect without the invalid provision or
application, and to this end the provisions of this ordinance are hereby declared to be
severable.
Section 7. This ordinance shall become effective in accordance with the provisions of
the Charter of the City of Georgetown.
PASSED AND APPROVED on First Reading on the 241h day of July 2012.
PASSED AND APPROVED on Second Reading on the 141h day of August 2012.
APPROVED AS TO FORM:
r� J w tj 2
CA1 l
Bridget Chapman
Acting City Attorney J;
Ordinance Number: C?0101-Page 2 of 2
Description: Housing Element
Date Approved: 8-14-2012
THE C OF GEORGETOWN:
IT Geoife Garver
Mayor
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City of Georgetown 2030 Comprehensive Plan
Housing Element
�/1
TABLE OF CONTENTS
Executive Summary
1. Introduction
2. Demographic Profile
3. Existing and Projected Demand
4. Policy Recommendations
K,
13
16
32
IN
(This page left intentionally blank)
Executive Summary
Why Study Affordable Housing Needs in Georgetown?
In 2005, the City Council of Georgetown appointed a Task Force to address the issue of
affordable housing. The Affordable Housing Task Force recommended three specific actions,
including the creation of a Housing Advisory Board, hiring a full-time housing coordinator, and
the creation of a Housing Master Plan with emphasis on affordable housing. The Housing Element
of the City's 2030 Comprehensive Plan represents the fulfillment of a goal to research and analyze
housing needs and to establish a framework for housing policy for the City.
Why should the City analyze its housing needs? Housing is a core community value in
Georgetown. This value is acknowledged in the City's 2030 Comprehensive Plan. The vision, as
expressed within the plan, is for Georgetown to become a community with "residential developments
that are well-connected.. ,planned and designed to compliment the heritage and natural character... which offer a
variety of housing types and price ranges."
What Is Affordable Housing?
For the purposes of this report, affordable
housing is defined as paying no more than
30% of one's gross household income on
shelter. For tenants, this means paying no
more than 30% of household income
towards rent. For homeowners, this means
paying no more than 30% of household
income towards the cost of principal,
interest, taxes and homeowner's insurance.
This report is aimed primarily at the
affordability of housing to households at or
below 80% of the median income for the Georgetown area.
census, this translates to households earning $48,734 or less.
Using 2010 income data from the
Primary Issues Addressed by this Study
Georgetown's Housing Advisory Board identified two issues to be addressed by this study:
• What is the unmet need for housing?
• What positive steps can we take to expand the supply of affordable housing for lower
income households in Georgetown?
3
Three Geographic Areas of Analysis
The first geographic area considered in this study is the current municipal boundary of the City of
Georgetown. In spatial terms, the City continues to grow. From 2000 to 2010, the City of
Georgetown annexed almost 17,000 acres into the municipal corporate limits, more than doubling
the geographic size of the City.
The second area is all of Williamson County. This provides reference for the area immediately
surrounding Georgetown. Similar to the City, the County has also experienced significant growth
in the last two decades.
For some statistics, a third area of the Austin -Round Rock -San Marcos Metropolitan Statistical
Area (MSA) is included. This provides a larger point of reference for the entire Central Texas
region.
Why do so many people want to live in Georgetown?
Georgetown has evolved from a sleepy, small town to a rapidly growing city that is the center of
county government and an area that provides goods and services to consumers within the region.
Many former Austin residents have migrated to Georgetown and its environs to escape the high
cost of housing and traffic congestion. In 2008, Georgetown was named the second "Best Place
to Live and Launch a Small Business" by Money Magazine. The City's 2008 Citizen Quality of
Life Survey revealed that residents cherish the community spirit, natural environment and small
town character found in Georgetown.
Sun City Texas has become a retirement destination for over 6,500 older households. A
significant portion of Georgetown's growth in population can be attributed to the popularity of
Sun City. Younger households have sought out Georgetown as a living environment because of
the lower relative cost of living, the good public school system, and the easy commute to work.
The City has experienced a surge in population. Between 1990 and 2000, Georgetown's
population grew by 11,673. From 2000 to 2010, the City's annual population increase averaged
1,906 persons, more than 60% above the annual increase during the 1990s. However, the highest
annual growth rates were observed in Williamson County. There, the annual growth rate exploded
from an average annual increase of 11,042 persons in the 1990s to 21,603 since 2000.
Population Growth
500,000
450,000
400,000
350,000
300,000 m-E—City of Georgetown
250,000
200,000 --&—Williamson County
150,000
100,000
50,000 -
0
1990 2000 2010
Georgetown's vibrant economy drives the housing market
Fundamentally, the housing market is a reflection of growth in the local economy. New jobs and
increases in household income fuel the demand for housing. Williamson County's economy is
expanding and its workforce is increasing significantly. As the second fastest-growing county in
Texas, Williamson County experienced a 69% surge in population since 2000. The robust
economy tied to the technology industry, as well as the retail and service sectors, added 42,000
jobs in the county between 2003 and 2007.
Many of Georgetown's residents commute to employment destinations outside of the county.
Although 56,552 residents both live and work in Williamson County, another 71,087 residents
commute to jobs outside of the county. Traveling in the opposite direction, 32,935 people drive
to Williamson County from areas outside of the county to work. The daily out -migration of
workers characterizes Williamson County as a bedroom community for Austin and Travis County.
Residents are willing to travel longer distances to work in exchange for the advantages of home
ownership in Williamson County.
Bell
-1.201
-163 973
Milam
2.198 -318
Williamson
Burnet./
711 1.635 919
11 SSI 230
66.756 11
-339
Travis
-317
Hays Bastrop
Bexar -199
Every household needs a dwelling
More so than population growth, housing demand in Georgetown is being generated by
household formation. Household growth in Georgetown and its environs is part of a national
trend that involves a number of factors such as longer life expectancy, young people remaining
single for a longer period of time, couples marrying later in life and an increase in divorces. Each
one of these events creates a new household. Demand is created because every household needs a
dwelling.
During the 1990s, household growth outpaced population growth in Georgetown. The household
growth rate of 81% was significantly higher than the population growth rate of 70%. This trend
has continued through the 2000s as households grew by 81% and population by 67%
6
The market responds by adding more than 9,000 new homes
Favorable economic, demographic and
market trends caused the City's housing
supply to expand dramatically. New
construction added more than 9,000 units in
Georgetown. Sun City accounted for nearly
3,000 of these homes. Overall, Williamson
County witnessed the creation of over 72,000
new housing units between 2000 and 2010.
Not all Georgetown residents
are wealthy
Even in the midst of a relatively steady
economy and housing market there remain a significant segment of Georgetown residents that
struggle to make ends meet. Forty percent of all City households had incomes of less than
$50,000 in 2010. Moreover, 27% of all households in 2010 were cost burdened and paying more
than 30% of their gross income on housing costs. Many of these individuals are employed in
service industries, which provide 73% of the jobs, located in Williamson County. These jobs are
typically among the lowest -skill, lowest wage jobs of the employment spectrum, providing
employment opportunities in retail, arts and entertainment, and food and accommodations. In the
past five years, forty percent of all new jobs added in the county were in the service sector.
Williamson County's rental housing wage was $18.35 in 2010
In Williamson County, the Fair Market Rent (FMR) for a two-bedroom apartment is $954. In
order to afford this level of rent and utilities, without paying more than 30% of income on
housing, a household must earn a monthly income of $3,180. Assuming a 40 -hour work week, 52
weeks per year, this level of income translates into a Housing Wage of $18.35 per hour. In order
to afford the FMR for a two-bedroom apartment, a minimum wage earner (making $7.25/hour in
2008) must work 101 hours per week, 52 weeks per year. Or, a household must include 2.53
minimum wage earner(s) working 40 hours per week year-round in order to make the two-
bedroom FMR affordable.
Many occupations such as waiters, retail clerks and construction laborers are necessary for the
economic vitality and success of a community. These "vital community occupations" are generally
found at the lower and mid-range of the income scale, and, therefore, these workers can find it
difficult to rent a decent dwelling unit. Based on the housing wage of $18.35, waiters, cashiers,
retail salespersons, and construction laborers could not afford to rent a one -bedroom unit costing
$783 per month as single -wage earning households. Entry level firefighters could afford the one -
bedroom FMR but not the two-bedroom FMR. Elementary school teachers, accountants and
registered nurses could afford a one -bedroom unit or a two-bedroom unit, even as single -wage
earning households.
Georgetown's Housing Market
Real median household income has decreased 16% since 2000, meaning overall 50% of
Georgetown households are making less money than they did 10 years ago. In the Georgetown
East market (i.e., east of I-35), the median housing sales price declined 3.9% from 2000 to 2010,
after adjusting for inflation. In the Georgetown West market (i.e., west of I-35), the median sales
price decreased 5.9%, after adjusting for inflation. While the market has registered a decrease in
home prices, the decrease in household income has made the housing market less affordable to
existing households.
Georgetown's Affordable Housing Stock
The median household income in the City was $60,917 in 2010. With this income, a household
could purchase a home selling for $167,520. In 2010, there were a total of 417 units that sold for
$167,000 or less. This was equivalent to 41.5% of the 1,004 total N4LS sales transactions. A
relatively affordable housing market is one in which households at the median household income
could purchase at least 40% of the homes. The Georgetown market currently meets this
threshold.
Between 2010 and 2012, a total of 495 sales transactions involved housing units that sold for
$134,000 or less. This price was affordable to a household earning up to 80% of the City's median
household income. These 495 units represented 24% of the total 2,083 sales transactions between
2010 and 2012.
Sales Housing in Georgetown is Becoming Unaffordable
Some households in Georgetown with incomes between 60% and 80% of the median area income
can find affordable homes in the marketplace. With respect to sales housing, the total affordable
housing supply (726) is less than the total affordable housing demand (2,295) for the period 2010-
2017. The local housing market is not addressing the need for affordable sales housing as
evidenced by the number of new and existing sales units that sold for $134,000 or less (495 units).
Hourly Wage Needed to Afford the HUD Fair Market Rents, 2010
$35.00
$29.74 531.42
$30.00
$25.00 23.84 $24.69
$20.00 $19.38 $20.14
$15os
$15.00
$1136 11.91
$10.00
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$5.00
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V.
Georgetown's Affordable Housing Deficit Consists of Rental Units
Georgetown made good progress in increasing the supply of affordable rental housing in the
2000s. However, Georgetown still has a higher demand for affordable rental units than supply.
This is due to the growth of lower -wage jobs and, subsequently, lower income households. An
additional 3,082 units will be needed in Georgetown to sufficiently address the rental housing need
for households with incomes at or below 80% of the area's median income. However, the 180
affordable rental units estimated to be available between 2012 and 2017 will address only a fraction
of the affordable housing deficit. An additional 2,902 affordable rental housing units will be
needed to meet the unmet demand through 2017.
Why address the need
The availability of housing for people at all income levels should be treated as an important issue
in Georgetown. For a city to be viable and sustainable in the long term, housing choices should
be available to those that want to live and work within the same city.
Viability and Support of the Citizens
The provision of work force housing is important for the continued viability of Georgetown. A
readily available pool of service employees is essential for the day-to-day operations required by
the residents of the city. Having teachers, firefighters, police and utility workers able to live
within the community they serve allows the workforce to be more efficient and connected with
the community they serve. In addition, in the event of an emergency or natural disaster,
firefighters, police and utility workers will be onsite to provide immediate assistance. With less
time spent on commuting to and from work, employees will have more free time, be less tired
from travel and be more productive at work.
9
..
$9.45 $9.71
Georgetown's Affordable Housing Deficit Consists of Rental Units
Georgetown made good progress in increasing the supply of affordable rental housing in the
2000s. However, Georgetown still has a higher demand for affordable rental units than supply.
This is due to the growth of lower -wage jobs and, subsequently, lower income households. An
additional 3,082 units will be needed in Georgetown to sufficiently address the rental housing need
for households with incomes at or below 80% of the area's median income. However, the 180
affordable rental units estimated to be available between 2012 and 2017 will address only a fraction
of the affordable housing deficit. An additional 2,902 affordable rental housing units will be
needed to meet the unmet demand through 2017.
Why address the need
The availability of housing for people at all income levels should be treated as an important issue
in Georgetown. For a city to be viable and sustainable in the long term, housing choices should
be available to those that want to live and work within the same city.
Viability and Support of the Citizens
The provision of work force housing is important for the continued viability of Georgetown. A
readily available pool of service employees is essential for the day-to-day operations required by
the residents of the city. Having teachers, firefighters, police and utility workers able to live
within the community they serve allows the workforce to be more efficient and connected with
the community they serve. In addition, in the event of an emergency or natural disaster,
firefighters, police and utility workers will be onsite to provide immediate assistance. With less
time spent on commuting to and from work, employees will have more free time, be less tired
from travel and be more productive at work.
9
Economic Stability
The availability of housing at all price levels also provides for a direct economic benefit to the city.
New retail, manufacturing and commercial businesses look at a variety of factors when exploring
new locations for expansion. These prospective employers will be drawn to a community that
already has a readily available local workforce supported by affordable housing alternatives in the
city of their employment. Combined with the many positive economic development attributes
that Georgetown already contains, the city will be in a better position to draw new businesses.
Additionally, with a workforce that is able to live and work within the same location, individuals
and families are able to participate more in community activities, shop locally and contribute to the
tax base, which will greatly benefit Georgetown.
Diversity of Comm Unity
Having a variety of housing choices promotes a diverse community that has households of
different sizes, cultures and age groups_ Young adults and seniors often desire smaller housing
with easy to manage maintenance, while families with children require more square footage and
yards in which to play. With the changing demographics, different cultures have cross -
generational households that require options that meet their size and structure. A diversity of
households and family structures provides the city with a mix of residents that can bring a variety
of skills and experiences to educate and help each other.
Social Responsibility
It is important to offer reasonable choices to residents as their circumstances change. As heads of
households may find themselves laid -off or temporarily jobless, affordable housing for
economically disadvantaged and temporarily disadvantaged individuals and families becomes
important. It allows current residents to stay in the community where they are already established.
Availability of handicapped accessible homes as well as housing available to fixed income
households is also an issue, especially in an aging community such as Georgetown.
By addressing the current housing deficits and increasing the availability of housing for various
income levels through the following recommendations, Georgetown will continue to provide a
community that adequately supports its existing residents, attracts new economic growth and
fosters an environment in which residents can thrive.
10
Recommendations
These recommendations offer a series of procedures which, when undertaken in whole or in part,
offer the potential to reduce the affordable housing deficit in the City of Georgetown. These
recommendations are ranked in order of their priority with a time frame for considering
implementation.
High Priority (One to five years)
1. Develop a program through which workforce housing developers can receive incentives to
provide new units.
2. Determine suitable multifamily zoning locations with sufficient services and land use
compatibility for an appropriate mix of housing variety within the city.
Medium High Priority (Five to seven years)
3. Continue the Housing Diversity density incentives for new residential construction.
4. Prioritize the use of HUD CDBG funds for affordable housing.
5. Strengthen home buyer counseling and support services.
Medium Priority (Seven to ten years)
6. Seek out County CDBG funds and State HOME funds in support of affordable housing
initiatives; subcontract with local nonprofits to implement projects
7. Identify revitalization areas for concentrated investment.
11
1. Introduction
Purpose of the Study
The City of Georgetown is in the constant process of reviewing and updating its Comprehensive
Plan. The City of Georgetown Comprehensive Plan has specific elements that are required by the
City Charter, a Housing Element being one of them. Additionally, the 2030 Comprehensive Plan
Framework states as vision for the city that "Georgetown residents respond to the needs of all
economic levels of residents through the provision of affordable housing and adequate and
accessible health and social service." (Quality of Life 1.2.G)
More importantly, however, the City will use the information contained in this report to implement
feasible and practical strategies that address the increasing need for housing at all price points for
households that wish to live and work in Georgetown.
Background
The need for affordable housing in Georgetown was affirmed in 2005 when the City Council of
Georgetown appointed the Affordable Housing Task Force to examine the availability of such
housing and possible strategies that could be implemented. In the spring of 2006, the Task Force
recommended three specific actions to begin addressing the local housing situation. These
recommendations included the creation of a Housing Advisory Board, hiring a full-time housing
coordinator, and the creation of a Housing Master Plan. The City Council adopted all three
recommendations.
In June 2006, the Housing Advisory Board was established. By March 2007, the Housing
Coordinator was employed and the City's new Housing and Neighborhood Development
Department was established. The primary goals of the Housing Coordinator were to (1) oversee the
development of the Housing Element of the Comprehensive Plan, (2) coordinate public/private
affordable housing initiatives, and (3) secure available financial resources, such as CDBG and
HOME Partnership funding from HUD. This study is the first step toward achieving these goals
and will be used to establish a housing policy for the City of Georgetown.
The purposes of the Housing Element are to:
Identify demographic and economic trends that affect the demand for housing
Define the Georgetown housing market area and the supply and demand characteristics of that
housing market
Analyze the demand for housing
Recommend actions and initiatives aimed at expanding the supply of housing at different price
levels.
What is Affordable Housing?
For this study, lower income households are defined as those with an annual income at or below
80% of the area median household income. Affordable housing is defined as paying no more than
30% of gross household income for housing expenses including mortgage or rent, plus utilities,
regardless of income level. One of the goals of this study is to determine whether there is an
13
adequate supply of affordable sales and rental housing to meet the needs of households at or below
80% of median household income in the Georgetown housing market area.
Defining the Georgetown Housing Market Area
Three geographic levels were examined for analysis and comparison with the surrounding area. The
corporate city limits of Georgetown is the first geographic level studied. Since 2000, the City of
Georgetown has annexed 17,000 acres into the municipal corporate limits, more than doubling the
geographic size of the City. This action was driven primarily by a City policy that advocated
municipal control over private development and the desire to control land development more
efficiently through zoning.' The 2010 Census city limits reflected these changes in the new
municipal boundary and no major annexations have taken place at the time of this study that greatly
affect the current city limit numbers.
The second geographic area is the entirety of Williamson County. Comparison to this area provides
insight into trends that are regional versus Georgetown specific.
A third geographic area that is available for some statistics is the Austin -Round Rock -San Marcos
Metropolitan Statistical Area (MSA). The use of these three geographical regions is based mainly on
data availability. Due to changes in survey methods and data gathering, Census information is
available in different reports, different geographical levels and is released on a different schedule
than in the past. Most tables have been updated using the recent U.S. Decennial Census and 2008-
2010 American Community Survey 3 -Year estimates.
I City of Georgetown 2030 Comprehensive Plan, pages 3-10.
14
How this Document is Organized
In addition to the Executive Summary and this Introduction section, the Housing Element includes
three sections.
Part 2 includes the Demographic Profile of Georgetown. In this chapter, population and household
growth, the housing and economic profiles and housing affordability are compared and analyzed.
Part 3 includes the step-by-step methodology utilized in determining the total affordable housing
deficit in Georgetown.
The final section of this report, Part4 includes a series of specific public policy recommendations
that can assist the City and community in meeting the City of Georgetown's affordable housing
needs over the next five years and beyond.
15
2. Demographic Summary
population and household growth trends are a driving force for the regional housing markets.
Variables such as expanding population, decreasing household size, new household formation, and
migration determine housing demand. While demographics are not the primary determining factor
in future trends of a housing market, they are a key indicator of the size and nature of demand for
housing. The following section examines current population trends as well as population
projections. Subsequent analysis examines household growth projections to 2012 and the resulting
housing demand forecast.
Population
Williamson County was the second fastest-growing county in Texas between 2000 and 2010. Only
Rockwall County, just outside of Dallas, had a higher rate of growth. This trend appears to be
continuing. The July 2011 Census Bureau population estimate ranked Round Rock and Austin
respectively as the second and third fastest-growing U.S. cities with a population over 100,000.
County Population Growth Rates, 2010
County
Rate of Population Growth
2000-2010
Rockw all
81.8%
Williamson
69.1%
Fort Bend
65.1%
Hays
61.0%
Collin
59.1%
IVIont ornery
55.1%
Denton
53.0%
Guadalupe
47.8%
Kaufman
44.9%
Kendall
40.7%
Source: U.S. Census, Texas Data Center
Central Texas has seen great increases in population for the last two decades. New residents are
relocating to the area from other parts of the nation and state. Williamson County also experience
growth from new residents relocating from Travis County.
Total Population Trends, 1990-2010
Sources: U.S. Census Bureau for 1990-2010 data;
17
City of
Georgetown
Williamson
County
Texas
1990
16,666
139,547
16,986,510
2000
28,339
249,967
20,851,820
2010
47,400
422,679
25,145,561
Change 1990-
2010 1
184%
203%
48%
Sources: U.S. Census Bureau for 1990-2010 data;
17
Since 2005, Georgetown has exceeded Williamson County on the annual rate of change. All areas
saw decreases in the rate of change from 2002-2004 and 2008-2010, which corresponds to the
economic downturns.
Annual Rate of Change in Population, 2000-2010
12%
10%
8%
e City of Georgetown
6% tWilliamson County
—t—Austin-Round Rock MSA
4%
2%
0%
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
From 2000 to 2010, Georgetown, with an overall growth in population at 67%, kept pace with
Williamson County, which had a 69% growth. The growth rate in both areas exceeded the 37%
population growth of the Austin -Round Rock -San Marcos MSA.
Annual Population Trends, 2000-2010
Sources: U.S. Census Bureau for all 2000 & 2010 data; for 2001-
2009 data Real Estate Center at Texas A&M University
IN
City of
Georgetown
Williamson
County
Austin -Round
Rock MSA
2000
28,339
249,967
1,249,763
2001
31,248
276,661
1,325,305
2002
32,889
289,969
1,355,241
2003
34,367
302,716
1,385,723
2004
1 35,631
316,508
1,423,161
2005
37,584
332,159
1,469,346
2006
40,306
350,879
1,532,281
2007
43,286
373,363
1,598,161
2008
45,236
395,146
1,654,100
2009
46,492
410,686
1,705,075
2010
1 47,400
422,679
1,716,289
Change
2000-2010
67%
69%
37%
Sources: U.S. Census Bureau for all 2000 & 2010 data; for 2001-
2009 data Real Estate Center at Texas A&M University
IN
With the population growth, the trends in age have continued to indicate that the median age of
Georgetown has been increasing faster than the surrounding area.
Median Age, 1990-2010
50
45
40
35
30
25
20
1990
1990
2000
2010
City of Georgetown
30.6
36.3
44
Williamson County
30.1
32.5
34.2
Austin -Round Rock MSA
29.6
31
32.6
Texas
30.7
32.4
33.6
50
45
40
35
30
25
20
1990
Trends in MedianAge,1990.2010
tCity of Georgetown
---- Wiliamson County
—*—Austin -Round Rock
MSA
--*—Texas
90%
■
1
2000 2010
The 60 to 65 age group increased by 132%, a larger increase than any other age cohort in
Georgetown. In 2010, 38.2% of Georgetown residents were 55 year or older, compared to
Williamson County at 18.4% and the MSA at 17.7%. This is due in large part to the growth of the
Sun City retirement community, which added over 4,000 new homes in the last decade.
100%
I�
Ili ■
Comparison of Age Cohorts, 1990-2010
90%
■
1
■
80%
7040
60%
50%
40%
3045
20%
o%
■
aUnder 66
�d68 Older
�
�
19
I�
Ili ■
■
■
■
1
■
■
�
�
19
Changes in Households
The Census Bureau defines "population" as "all people, male and female, child and adult, living in a
given geographic area." The term "household" is defined to include "all the people who occupy a
housing unit as their usual place of residence." When describing housing markets and housing need,
focusing the discussion on households is more relevant and accurate because each household requires
a dwelling unit while several people may comprise the same household and live in the same housing
unit. In other words, calculating housing need on the basis of the number of households in a
geographic area is much more accurate than calculating housing need based on the number of
persons.
Over the last two decades, household growth outpaced population growth. From 2000-2010, the
City's household growth rate of 81% exceeded the population growth rate of 67%. While this trend
parallels national trends, it is doing so at a higher rate.
Household Growth Trends, 1990-2010
Sources: U.S. Census Bureau for 1990-2010 Jet --
The effect of this growth trend is smaller for average household sizes. Since 2000, the average
household size has decreased by 0.15 persons per household. This statistic is largely due to rapid
growth in the 55 and over age group, which typically have no children. The average household size
for the Census Tracts that cover the Sun City area was 1.8 persons per household.
Trends in Average Household Sizes, 1990-2010
1990
2000
Percent
City of Georgetown
2.69
Percent
2.38
Williamson County
Average
Change
2.74
Average
Change
2.57
2.58
Annual
from
2.74
Annual
from
1990
2000
Chane
1990-2000
2010
Chane
2000-2010
City of Georgetown 5,730
10,389
466
81%
18,830
81;6
bVilliamson County 48,790
86,7661
37798
787E 1
152,6061
76?b
Austin -Round Rock MSA 325,996
471,S.EEI
14, 5M 1
45% 1
650,4591
17.3 0
38%
Sources: U.S. Census Bureau for 1990-2010 Jet --
The effect of this growth trend is smaller for average household sizes. Since 2000, the average
household size has decreased by 0.15 persons per household. This statistic is largely due to rapid
growth in the 55 and over age group, which typically have no children. The average household size
for the Census Tracts that cover the Sun City area was 1.8 persons per household.
Trends in Average Household Sizes, 1990-2010
Sources: U.S. Census Bureau
20
1990
2000
2010
City of Georgetown
2.69
2.53
2.38
Williamson County
2.81
2.82
2.74
Austin -Round Rock MSA
2.50
2.57
2.58
Texas
2.73
2.74
2.75
Sources: U.S. Census Bureau
20
It is also interesting to note that a comparison of the rental versus owner average household sizes
show our rental units have more occupants than owner occupied units. This is counter to the trend
in Williamson County, the Austin -Round Rock -San Marcos MSA, and the State of Texas.
Trends in Average Household Sizes, 1990-2010
2010
Rental
Owner
All Housing
City of Georgetown
2.50
2.34
2.38
Williamson County
2.49
2.85
2.74
Austin -Round Rock MSA
2.32
2.76
2.58
Texas
2.54
2.87
2.75
Sources: U.S. Census Bureau
21
Income
Income is broader than wages and represents the total funds available to a household. The Census
defines income as the sum of the amounts reported separately for wage plus interest, dividends, or
net rental or royalty income or income from estates and trusts; social security or railroad retirement
income; Supplemental Security Income; public assistance or welfare payments; retirement, survivor,
or disability pensions; and, all other income. The term "real income" refers to income that has been
adjusted for inflation.
Income trends can reveal the financial capacity of a region to support new housing construction,
modernization of older housing units, and regular maintenance of existing units. Lower income
households will have greater difficulty meeting the most basic of needs such as food and clothing,
and generally have less disposable income to save toward a down payment to rent or purchase a
home, or to make necessary repairs on an older housing unit.
Median household income is often the benchmark against which housing affordability is measured.
The median household income is the middle of the income range: one-half of all households in an
area have an income higher than the median and the other half have an income lower than the
median.
The median household income in Georgetown in 2010 was $60,917. This represented a
decrease in real median household income of 16% from 2000. All other areas also registered
decreases, but at lower rates.
Household income growth since 2000 has been very sluggish. The income gains achieved
since 2000 are only a fraction of what they were in the previous decade. Real median household
income increased 5% or less in all areas.
Changes in Real Median Household Income 1990-2010
"Adjusted to 2000 dollars
"Adjusted to 2010 dollars
With the decrease in real income, the distribution of households by income was greater at the lower
income ranges, with 41% of Georgetown households making less than $50,000 a year. This is a shift
from 2000 where the distributions were fairly equal.
22
City of
Georgetown
Williamson
County
Austin -
Round Rock
MSA
Texas
1990-2000
1990 Real Median Household Income"
$39,714
$44,590
$36,930
$35,623
2000 Median Household Income
$57,183
$60,775
$49,025
$39,933
% Change 1990-2000
44%
36%
33%
12%
2000-2010
2000 Real Median Household Income—
$72,410
$76,959
$62,080
$50,567
2010 Median Household Income
$60,917
$67,168
$56,712
$49,585
% Change 2000-2007
-16%
-13%
-9%
-2%
"Adjusted to 2000 dollars
"Adjusted to 2010 dollars
With the decrease in real income, the distribution of households by income was greater at the lower
income ranges, with 41% of Georgetown households making less than $50,000 a year. This is a shift
from 2000 where the distributions were fairly equal.
22
Distribution of Households by Income, 2000-2010
2000 Census, 2008-2010 American Community Survey 3-YearEstimates
Housing Market
The housing market is made up of the sales of new and existing individual housing units, as well as
rental units in the multi -family properties. The availability of a variety of housing types at various
price levels enables a community to respond to changes in households' economic circumstances.
The Census collects data on the value of all of the owner -occupied units if they were to be sold.
From 2000 to 2010, the real median value of housing units in Georgetown only increased by 3%,
while all other areas increased by a greater amount. This leveled out the difference in home values
in the area, as Georgetown saw a much larger increase in values over the previous decade.
Change in Median Housing Value, 1990-2010
City of
Georgetown,
2000
Williamson
County, 2000
City of
Georgetown,
2010
Williamson
County, 2010
Less than $50,000
31%
28%
41%
34%
$50,000 to $99,999
37%
41%
37%
39%
$100,000 and higher
1 31%
32%
22%
27%
2000 Census, 2008-2010 American Community Survey 3-YearEstimates
Housing Market
The housing market is made up of the sales of new and existing individual housing units, as well as
rental units in the multi -family properties. The availability of a variety of housing types at various
price levels enables a community to respond to changes in households' economic circumstances.
The Census collects data on the value of all of the owner -occupied units if they were to be sold.
From 2000 to 2010, the real median value of housing units in Georgetown only increased by 3%,
while all other areas increased by a greater amount. This leveled out the difference in home values
in the area, as Georgetown saw a much larger increase in values over the previous decade.
Change in Median Housing Value, 1990-2010
*In 2010 dollars
Source: US Census
When comparing the change in median housing values and median household income, the gap
between increasing housing values continues to outpace the household income. This trend was
similar for all geographic areas.
Change in Median Housing Value and Median Household Income,
2000-2010 (in 2010 dollars)
:]Georgetown
1990
2000
Change
1990-2000
2000*
2010
Change 2000-
2010
City of Georgetown
$97,053
$141,413
46%
$179,071
$183,600
3%
Williamson County
$95,150
$120,685
27%
$152,823
$175,700
15%
Austin -Round Rock MSA
$98,489
$122,866
25%
$155,585
$187,700
21%
Texas
$78,5441
$82,449
5%
$104,4051
$127,4001
22%
US
$103,270
$115,194
12%
$145,870
$187,500
29%
*In 2010 dollars
Source: US Census
When comparing the change in median housing values and median household income, the gap
between increasing housing values continues to outpace the household income. This trend was
similar for all geographic areas.
Change in Median Housing Value and Median Household Income,
2000-2010 (in 2010 dollars)
:]Georgetown
City of
Williamson
County
Austin -
Round Rock
MSA
Texas
Median Housing Value
2000-2010 1 3%
1 15%
1 21% 1 22%
Median Household Income
2000-2010 1 -16%
1 -13%
1 -9% -2
23
When looking at housing sales data, it is clear that the decrease in value of the housing stock has lead
to a decrease in sales prices. In 2010, houses for sale were staying on the market longer and selling
for less than in previous years.
Overview of Georgetown Housinq Sales Data, 2010
Median List
Price
Median Sales
Price
Average DOM
Transactions
Georgetown East $139,900
$135,250
123
256
Georgetow n West $215,450
$208,500
139
748
Total Georgetow n Market $192,500
$185,000
135
1,004
Williamson County Association of Reaftors® Multiple Listing Service
Over the last decade, the real sales price of houses has decrease 4% on the east side of Georgetown,
and 6% on the west side. While the price of housing has decreased, the decrease in median
household income has been more severe, effectively making ownership opportunities more
expensive.
Changes in Median Sales Price and Median
Household Income, 2000-2010 (in 2010 dollars)
'Calculated for the City of Georgetown
Trends in Median Sales Prices, 2000-2011
$300,000
$250,000
$200,000
$150,000 —Georgetown East
+Georgetown West
$100,000
$50,000
$0
ON c`7 �' 4-) O r OD O O
O o o O o 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0
N N N N N N N N N N N N
24
Georgetown East
Georgetown West
Change in Median Sales Price
2000 to 2010 -3.9% -5.9%
Change in Median Household Income'
2000 to 2010 F -16%
'Calculated for the City of Georgetown
Trends in Median Sales Prices, 2000-2011
$300,000
$250,000
$200,000
$150,000 —Georgetown East
+Georgetown West
$100,000
$50,000
$0
ON c`7 �' 4-) O r OD O O
O o o O o 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0
N N N N N N N N N N N N
24
Housing Affordablility
For Housing to be considered as affordable to a household, they must pay no more than 30% of
gross household income for housing expenses, including mortgage or rent, utilities, insurance, and
taxes, regardless of income level. When a household pays more than this amount, it is considered
cost burdened.
In 2010, the median sales price of home in Georgetown East was $135,250 and in Georgetown West
was $208,500. Based on these prices, a household would require a minimum income of $54,100 in
order to afford a home selling for the median sales price in Georgetown East. This income amount
is equivalent to 89% of the median household income of $60,917. In the Georgetown West area, a
minimum income of $80,192 would be required to purchase the median priced home, equivalent to
132% of the median household income.
The following chart lists the median annual wages paid in 2010 for several job classifications in
Williamson County. Of the 13 occupations listed, only three could afford to purchase a home
selling for the median sales price in Georgetown East, and none could purchase a home in
Georgetown West, as a single -wage earning household.
Source: Texas Workforce Commission, City of Georgetown
25
Annual Income Needed to Afford Median Sales Priced Home, 2010
90,000
80,000
$80,192
70,000
S61 67$65,354 $68,952
60,000
$49,594
50,000
$41,885
40,000
30,000
'666
$20,197 '
20,000
10,000
°\ee Qay` JHe y���
ae'(e�
�a``e� ayret 5e<'e' 1�`9c c`aca
01� eAli Q°ce�Q
G c\ I'llyQ to -le .�c Ga OOJ sic
eat
°Zye .°O 9a�e e�F �e° o\ ems° �`e pec P° ego
O
Or
Q &0 e0`Oi
a c
°aQtP' G°Cy~`J4 eC`t'
ea` aC
Q° F teea se
Fe e
° o�
Source: Texas Workforce Commission, City of Georgetown
25
The Housing and Urban Development Department annually determines the Fair Market Rent that is
required to rent housing based on the number of bedrooms. In 2010, the FMR for a three bedroom
unit in Georgetown was $1,284. Based on the incomes of the same 13 occupations, only the top
three could afford this rental rate. For a two bedroom unit, the monthly rent was $954, which
would be available to three more workforce categories. A one bedroom unit monthly rent was $783,
which included an additional category. Of the 13 occupations, five of the job classifications would
not be able to afford a market rate unit in Georgetown as a single -wage earning household.
Source: Texas Workforce Commission, City of Georgetown, Housing & Urban Development
26
Hourly Wage Needed to Afford the HUD Fair Market Rents, 2010
$40.00
$23.84 $24.69
$35.00
$19.38
$20.14
$30.00
$15.D6
$25.00
8 59
F-1
$11.36 -
$9.45 $9.71
I-1
$20.00
$15.00
91
$10.00
$5.00
fl LJ LJ
LJ LJ
$0.00
`e`
�Q '0-�ea4rec �Q
e�Armec Oe' �0a4r0�
G�Q�p a�J�e °Jc`aca
6�yrgt a\�e`,et yam°�e� yQO�yor
e �.
c �e 0 q roe
i�° "0'
�o \ye ako� Jet a"0' 4•C° q0 G,co
e� yS era ae .e ae 5 ,e\ 5 aea �eA
dee dee �e6
aQi G°c
c`P� �t1�e eotia��
�,c��
�a�e
c`
Source: Texas Workforce Commission, City of Georgetown, Housing & Urban Development
26
$29-74 $31.42
$23.84 $24.69
$19.38
$20.14
$15.D6
8 59
F-1
$11.36 -
$9.45 $9.71
I-1
Source: Texas Workforce Commission, City of Georgetown, Housing & Urban Development
26
3. Existing and Projected Demand for Affordable
Housing
The demand for affordable housing is comprised of both existing demand and projected demand.
Existing demand for affordable housing is based on the number of households in the study area that
are living in inadequate housing. Pn�ected demand is based on the net increase in the number of
lower income households expected to reside in the study area. The combination of existing and
projected demand provides an estimate of the overall demand for affordable housing units in the
City of Georgetown for 2010 to 2017. The time frame selected for projecting affordable housing
need for this study is 2012 to 2017. Population and household projection data were obtained for
this five-year period from City staff.
In determining the extent of affordable housing need, it is important to identify the type of need in
order to develop an appropriate strategy to address the need. For example, cost burdened renter
households would benefit from rental subsidies while renter households living in substandard
physical conditions would benefit from new construction activities. Cost burdened owner
households, particularly those residing in older dwelling units, may benefit from rehabilitation, which
includes weatherization improvements to lower monthly utility bills, thereby decreasing total
monthly housing costs.
Existing Affordable Housing Demand, 2010
To quantify existing demand, households with housing problems were identified utilizing the U.S.
Census American Community Survey 3 -Year estimates. Housing problems included the following
two characteristics: (1) households who were cost burdened and paying more than 30% of income
on monthly housing costs, and (2) households who were living in dwelling units with physical
deficiencies (overcrowded conditions and/or without complete plumbing or kitchen facilities).
The data used for this report is collected by the Census annually and compiled into estimates every
three years that include cost burdened households and households living in physically deficient units.
The American Communities Survey replaces the long -form Census that was previously only sampled
with the decennial Census. Surveying yearly provides more timely data for projection purposes.
This report focuses on households with incomes equal to 80% or less of the median household
income, collectively referred to as lower income households, as defined by HUD. In 2010, the
median household income (MHI) ranged from $60,917 in the City of Georgetown to $67,168 in
Williamson County. Affordable housing demand was calculated according to the following income
groups within each area:
Extremely low income households (0% up to 30% MHI)
Very low income households (30% up to 50% MHI)
Low income households (50% up to 80% MHI).
While median household income is used throughout this document, the following table describes
households with housing problems that are based on the HUD median family income. The HUD
median family income in 2010 was $74,039 for Georgetown and $77,423 for Williamson County.
27
While this income amount is different from the median household income, the Census data is the only
source describing cost burden households and households residing in physically -deficient units.
The existing affordable housing demand in the City of Georgetown is 2,219 housing units.
This number is comprised of 439 lower income households (350 renters and 89 owners) residing in
physically -deficient housing units. In addition, another 4,883 households (2,327 renters and 2,556
owners) were identified as cost burdened and paying more than 30% of their income on monthly
housing costs. In the remainder of Williamson County, there were 2,425 lower income households
(1,065 renters and 921 owners) living in physically -deficient housing units. Cost burden was
identified for another 42,912 households (18,094 renters and 24,818 owners).
Households with Housing Problems, 2010
Note: Data is available only for the City of Georgetown and Williamson County.
Sauce: 2008-2010 ACS 3 -Year Estimates
Projected Demand for Affordable Housing, 2010 to 2012
Household projections by income group were calculated by City staff and clustered into the same
three categories used for existing affordable housing demand. The following figure lists the
projected change in the total number of households by income group between 2010 and 2012.
The increases are projected to occur among higher income households. In the City of
Georgetown, new higher income households will outnumber new lower income households by
more than 2 to 1. The number of new households above 80% of median is projected to increase by
1,751 while the number of new lower income households is projected to increase by 798.
In Williamson County outside of Georgetown, the number of new higher income households is
projected to increase by 22,010 compared to 8,295 new lower income households.
New lower income households will comprise less than thirty percent of all new households
in Williamson County by 2017. Of the 22,010 total new households projected by 2017 in the
County, 8,295 are projected to be lower income. This is equivalent to 27% of the total new
households to be created.
Renter Households
Remainder of
City of Williamson
Georgetown County
Owner Households
Remainder of
City of Williamson
Georgetown County
All Households
Remainder of
City of Williamson
Georgetown County
All Households
5,642
41,515
12,157
88,921
17,799
130,436
Extremely Low Income Households 0% up to 30% of MHI
1,460
6,281
767
4,009
2,227
10,290
Cost burdened (paying more than 30%)
1,316
6,047
599
3,335
1,915
9,382
Very Low Income Households 31% up to 50% of MHI
619
8,339
1,293
6,4241
1,912
14,763
Cost burdened (paying more than 30%)
458
7,274
781
4,302
1,239
11,576
Low Income Households 51% up to 80% of MHQ
1,341
7,561
1,759
10,081
3,100
17,642
Cost burdened (paying more than 30%)
520
3,016
484
5,902
1,004
8,918
Other Income Households above 80% of MHI
2,13417,960
8,338
68,407
10,472
86,367
Cost burdened (paying more than 30%)
33
1,757
692
11,279
725
13,036
Physical deficiencies to unit
350
1,065
89
921
439
2,425
Note: Data is available only for the City of Georgetown and Williamson County.
Sauce: 2008-2010 ACS 3 -Year Estimates
Projected Demand for Affordable Housing, 2010 to 2012
Household projections by income group were calculated by City staff and clustered into the same
three categories used for existing affordable housing demand. The following figure lists the
projected change in the total number of households by income group between 2010 and 2012.
The increases are projected to occur among higher income households. In the City of
Georgetown, new higher income households will outnumber new lower income households by
more than 2 to 1. The number of new households above 80% of median is projected to increase by
1,751 while the number of new lower income households is projected to increase by 798.
In Williamson County outside of Georgetown, the number of new higher income households is
projected to increase by 22,010 compared to 8,295 new lower income households.
New lower income households will comprise less than thirty percent of all new households
in Williamson County by 2017. Of the 22,010 total new households projected by 2017 in the
County, 8,295 are projected to be lower income. This is equivalent to 27% of the total new
households to be created.
Projected Change in Households by Income Category, 2000-2012
Source: 2008-2010 ACS 3 -Year Ertimater, Cily of Georgetown calirrlationr.
The net increase of 1,713 new lower income households in the City of Georgetown
represents the projected affordable housing demand. This number is comprised of 875
extremely low income households, plus 93 very low-income households, plus 745 low-income
households. The increase in total households will occur as a result of new household formation
within the existing population and the migration of new households to Georgetown from elsewhere.
Household changes in income groups may occur for similar reasons. Additionally, resident
households may shift between income categories as a result of changes in individual financial
situations.
The projected demand for 798 units of affordable housing can be further refined to estimate the
demand for renter units and owner units. Trends in the ratio of renters to owners from 1990, 2000,
and 2010 Census data offer reasonable assumptions for future projections.
The following methodology was utilized to estimate the tenure ratios for Georgetown:
Among extremely loan -income households, the ratio of renters to owners was 65% to 35% in 1990;
2000, the ratio was 62% to 38%; by 2010 the ratio was 69% to 31%. Given the increase in
housing costs and the potential for stricter mortgage underwriting standards, it is reasonable
to assume that most of the new households in this income category will be renters. As a
result, a ratio of 70% renters to 30% owners is estimated for 2017. Of the 239 households,
167 are projected to be renters and 72 are projected to be owners.
29
2010 American
Communities
Survey
2012
Estimate
2017
I ProjectionI
Change from 2010 to 2017
Number Percent
Extremely Low Income Households (0% to 30% of MHI)
City of Geor etown
2,2271
2,2941
2,4661
2391
10.7%
Williamson County
12,5171
13,1241
14,7141
2,1971
17.5%
Very Low Income Households (30%
to 50% of MHI)
City of Geor etown
1,912
1,962
2,091
1799.4%
Williamson County
14,763
15,7961
18,5611
3,7981
25.7%
Low Income Households (50% to 80% of MHI
City of Georgetowni
3,1001
3,2061
3,4801
3801
12.3%
Williamson Countyl
All Households up to 80% of MHI
17,6421
18,2831
19,9421
2,3001
13.0%
City of Geor etown
7,239
7,4621
8,0371
798
11.0%
Williamson County
44,9221
47,2031
53,2171
8,2951
18.5%
All Households above 80% of MHI
City of Geor etown
10,4721
10,9561
12,2231
1,751
16.7%
Williamson County
96,8391
102,8601
118,8491
22,0101
22.7%
Source: 2008-2010 ACS 3 -Year Ertimater, Cily of Georgetown calirrlationr.
The net increase of 1,713 new lower income households in the City of Georgetown
represents the projected affordable housing demand. This number is comprised of 875
extremely low income households, plus 93 very low-income households, plus 745 low-income
households. The increase in total households will occur as a result of new household formation
within the existing population and the migration of new households to Georgetown from elsewhere.
Household changes in income groups may occur for similar reasons. Additionally, resident
households may shift between income categories as a result of changes in individual financial
situations.
The projected demand for 798 units of affordable housing can be further refined to estimate the
demand for renter units and owner units. Trends in the ratio of renters to owners from 1990, 2000,
and 2010 Census data offer reasonable assumptions for future projections.
The following methodology was utilized to estimate the tenure ratios for Georgetown:
Among extremely loan -income households, the ratio of renters to owners was 65% to 35% in 1990;
2000, the ratio was 62% to 38%; by 2010 the ratio was 69% to 31%. Given the increase in
housing costs and the potential for stricter mortgage underwriting standards, it is reasonable
to assume that most of the new households in this income category will be renters. As a
result, a ratio of 70% renters to 30% owners is estimated for 2017. Of the 239 households,
167 are projected to be renters and 72 are projected to be owners.
29
Among very loin -income households, the ratio of renters to owners was 65% to 35% in 1990; 60%
to 40% in 2000, and by 2010 the ratio was 37% to 63%. With this shift in trend, a
conservative estimate assumes a ratio of renters to owners in 2017 could be 45% to 55%. As
a result, the 179 households would be comprised of 81 renters and 99 owners.
Among loan -income households, the ratio of renters to owners was 50% to 50% in 1990; 41% to
59% in 2000; and by 2010 the ratio was 52% to 48%. For the same reasons listed above, it is
reasonable to assume a ratio similar to the 1990 rates of 50% renters to 50% owners. As a
result, the 380 households would be comprised of 190 renters and 190 owners.
Based on these assumptions, it is estimated that the 798 households can be further classified as 438
renter units and 360 owner units.
Projected Affordable Housing Demand by Tenure in the City of Georgetown, 2000-2012
Sonne: 2008-2010 ACS 3-I ear Estimates, City of Georgetown caladations.
Summary of Existing and Projected Affordable Housing Demand,
2010 to 2017
The total demand for affordable housing in the City of Georgetown is estimated to be 4,956
units. A combination of existing demand and projected demand is the total affordable housing
demand for the year 2017. Existing demand is defined as the number of households that have
housing problems (cost burden greater than 30% of income, and/or overcrowding, and/or without
complete kitchen or plumbing facilities). The existing affordable housing demand in the City is 4,158
units.
Projected demand for affordable housing is determined by the anticipated increase in the number of
lower income households regardless of housing problems. The projected demand for affordable
housing is 798 units. Note that existing demand exceedsprojected demand by 420%.
The following table provides a summary of total affordable housing demand in the City of
Georgetown.
30
Renter Units
Owner Units
Total Units
Extremely Low Income Households 0% up to 30% of MHI
167
72
239
Very Low Income Households (31% up to 50% of MHI
81
99
179
Low Income Households 51% up to 80% of MHI)
190
190
380
Total Demand for Affordable Units
438
360
798
Sonne: 2008-2010 ACS 3-I ear Estimates, City of Georgetown caladations.
Summary of Existing and Projected Affordable Housing Demand,
2010 to 2017
The total demand for affordable housing in the City of Georgetown is estimated to be 4,956
units. A combination of existing demand and projected demand is the total affordable housing
demand for the year 2017. Existing demand is defined as the number of households that have
housing problems (cost burden greater than 30% of income, and/or overcrowding, and/or without
complete kitchen or plumbing facilities). The existing affordable housing demand in the City is 4,158
units.
Projected demand for affordable housing is determined by the anticipated increase in the number of
lower income households regardless of housing problems. The projected demand for affordable
housing is 798 units. Note that existing demand exceedsprojected demand by 420%.
The following table provides a summary of total affordable housing demand in the City of
Georgetown.
30
Summary of Existing and Projected Affordable Housing Demand, 2010-2017
Source: 2008-2010 ACS 3 -)ear Estimates, Cato of Georgetown calculation r.
Affordable Housing Supply, 2010-2017
The second step in estimating affordable housing need is to determine the extent to which housing
demand is likely to be met through the existing housing inventory and any projected new housing
development. This can be achieved by identifying the extent to which the current housing delivery
system is already providing housing for lower income households. The existing housing inventory,
current building activity, and housing programs already in place must be evaluated.
Recent Housing Activity, 2010-2012
Since 2010, a total of 835 new units have been added to the City of Georgetown housing inventory.
In the Georgetown East market, the median housing sales price decreased 8.2% between 2008 and
2012. The average number of days that a house remained on the market increased 32.9% from 93
to 123 days. A total of 1,056 sales transactions have been completed during the period.
The Georgetown West market has been more active as indicated by a higher number of transactions
(3,092) but registered a decrease -(-1.3%o) in the median housing sales price between 2008 and 2012.
The average number of days that a house remained on the market, however, has increased 17.3%
from 119 to 139 days and remains higher than in the Georgetown East market.
These indicators suggest that demand will remain relatively stable and the cost of purchasing a home
in Georgetown may decrease slightly in the near future. This is largely due to nationwide economic
conditions and a shift in lending practices. As the economy continues to improve continued
household growth and higher median incomes will fuel the demand for new housing.
Despite increases in housing construction costs, 495 MLS sales transactions in 2010-11 were units
that sold for $134,000 or less—a price affordable to households earning $48,800, equivalent to 80%
of the 2010 median household income of $60,917. These 495 units represented 241/o of the 2,083
housing units sold in 2010 and 2011.
Projected Housing Growth, 2012-2017
Projecting net change in the future housing supply can be difficult given the uncertainty of interest
rates, construction costs, mortgage availability, developer behavior, etc. Today, one of the greatest
concerns is the impact of unconventional mortgages. Increases in foreclosures could trigger a
temporary increase in housing supply, but tighter lending standards may make it more difficult for
potential home buyers to acquire their home. However, recent trends as well as projections of
housing demand based on household formation rates provide reasonable benchmarks for likely
31
Existing Demand, 2010
Renters Owners
Projected Demand,
2000 to 2017
Renters Owners
Total
Extremely Low Income Households (0% to 30% of MHI)
1,316 599
167 72
2,154
Very Low Income Households 31% to 50% of MHI
458 781
81 99
1,418
Low Income Households (51% to 80% of MHI)
520 484
190 190
1,384
Total Affordable Housing Demand
2,294 1,864
438 360
4,956
Source: 2008-2010 ACS 3 -)ear Estimates, Cato of Georgetown calculation r.
Affordable Housing Supply, 2010-2017
The second step in estimating affordable housing need is to determine the extent to which housing
demand is likely to be met through the existing housing inventory and any projected new housing
development. This can be achieved by identifying the extent to which the current housing delivery
system is already providing housing for lower income households. The existing housing inventory,
current building activity, and housing programs already in place must be evaluated.
Recent Housing Activity, 2010-2012
Since 2010, a total of 835 new units have been added to the City of Georgetown housing inventory.
In the Georgetown East market, the median housing sales price decreased 8.2% between 2008 and
2012. The average number of days that a house remained on the market increased 32.9% from 93
to 123 days. A total of 1,056 sales transactions have been completed during the period.
The Georgetown West market has been more active as indicated by a higher number of transactions
(3,092) but registered a decrease -(-1.3%o) in the median housing sales price between 2008 and 2012.
The average number of days that a house remained on the market, however, has increased 17.3%
from 119 to 139 days and remains higher than in the Georgetown East market.
These indicators suggest that demand will remain relatively stable and the cost of purchasing a home
in Georgetown may decrease slightly in the near future. This is largely due to nationwide economic
conditions and a shift in lending practices. As the economy continues to improve continued
household growth and higher median incomes will fuel the demand for new housing.
Despite increases in housing construction costs, 495 MLS sales transactions in 2010-11 were units
that sold for $134,000 or less—a price affordable to households earning $48,800, equivalent to 80%
of the 2010 median household income of $60,917. These 495 units represented 241/o of the 2,083
housing units sold in 2010 and 2011.
Projected Housing Growth, 2012-2017
Projecting net change in the future housing supply can be difficult given the uncertainty of interest
rates, construction costs, mortgage availability, developer behavior, etc. Today, one of the greatest
concerns is the impact of unconventional mortgages. Increases in foreclosures could trigger a
temporary increase in housing supply, but tighter lending standards may make it more difficult for
potential home buyers to acquire their home. However, recent trends as well as projections of
housing demand based on household formation rates provide reasonable benchmarks for likely
31
estimates of net change in the housing supply. The following projections are based on the
assumption that no changes are made to local policies and no new policies impacting affordable
housing are adopted.
It is projected that an additional 2,125 housing units will be created between 2012 through
2012. The net change in the existing housing stock in the City of Georgetown between 2010 and
2012 was 832 housing units at an average annual production rate of 418 units. This production rate
is projected for 2012 through 2017 as Georgetown housing market continues to recover. While
lending institutions may tighten their mortgage standards, this may be off -set by the influx of well-
educated and higher income households moving into the area. However, tighter mortgage standards
will more than likely impact lower income households more severely than higher income
households.
Based on these trends and assumptions, it is projected that an additional 2,088 housing units
(approximately 425 units annually over the next five years) will be created between 2012 through
2017. Of these, it is estimated that approximately 1,565 units (75%) will be single family owner -
occupied units and 560 units (25%) will be multi -family renter -occupied units. Furthermore, it is
projected that the private housing market will continue to favor higher income households over
lower income households and owners over renters.
Projected Housing Inventory, 2017
Soam: 2008-2010 ACS 3 -Year Estimates, City of Georgetown cakalations.
It is estimated that approximately 10% of the projected 2,125 market -rate housing units will
be affordable to households with incomes up to 80% of the median household income. This
estimate of 152 units is a more conservative number than the previous eight years. However, given
the current housing crisis and recent building permit trends, a more conservative approach is
warranted.
City of Georgetown Affordable Housing Deficit, 2012-2017
Affordable housing need is determined by identifying the unmet affordable housing demand (i.e.,
the deficit). The following chart illustrates the number and type of affordable housing units
identified in Georgetown. The affordable housing supply created between 2010 and 2012
included:
3495 residential units that sold for $134,000 or less in the Georgetown MLS market
32
Average Annual
Projected Net
Production Rate
Increase in
Projected
2010 Housing
2012 Housing 2010 to 2012
Housing Units
2017 Housing
Inventory
Inventory (units)
2012 to 2017
Inventory
City of Georgetown
1 19,2111
20,0461 4181
2,1251
22,171
Soam: 2008-2010 ACS 3 -Year Estimates, City of Georgetown cakalations.
It is estimated that approximately 10% of the projected 2,125 market -rate housing units will
be affordable to households with incomes up to 80% of the median household income. This
estimate of 152 units is a more conservative number than the previous eight years. However, given
the current housing crisis and recent building permit trends, a more conservative approach is
warranted.
City of Georgetown Affordable Housing Deficit, 2012-2017
Affordable housing need is determined by identifying the unmet affordable housing demand (i.e.,
the deficit). The following chart illustrates the number and type of affordable housing units
identified in Georgetown. The affordable housing supply created between 2010 and 2012
included:
3495 residential units that sold for $134,000 or less in the Georgetown MLS market
32
Habitat for Humanity of Williamson County constructed 6 single family housing units in
Georgetown
The affordable housing supply in the "pipeline" or planned for development and occupancy
between 2012 and 2017 was based on the following assumptions as well as information obtained
from local affordable housing providers:
The Texas Housing Foundation will develop 180 units of affordable rental housing at Gateway
Northwest Apartment.
Affordable Housing Need in the City of Georgetown, 2017
AFFORDABLE HOUSING DEMAND
Owners
Renters I
Total
Existing Demand for Affordable Housing (2010)
Households living in physically -deficient units
89
350
439
Households that are cost burdened:
Extremely low income households (up to 30% of MHI)
599
1316
1,915
Very low income households (30% up to 50% of MHI)
781
458
1,239
Low income households (50% up to 80% of MHI)
484
520
1,004
Total Existing Demand for Affordable Housing (2010)
1,953
2,6441
4,597
Projected Demand for Affordable Housing (2010-2017)
New extremely low income households (up to 30% of MHI)
72
167
239
New very low income households (30% up to 50% of MHI)
81
81
161
New low income households (50% up to 80% of MHI)
190
190
380
Total Projected Demand for Affordable Housing (2010-2017)
342
438
780
TOTAL AFFORDABLE HOUSING DEMAND
2,295
3,082
5,377
AFFORDABLE HOUSING SUPPLY
Supply of Affordable Housing Units Created (2010-2012)
2010-2012
Market sales units that sold for up to $134,000 (affordable to up 80% of MHI)
495
495
Habitat for Humanity
6
6
New construction rental units (affordable to households up to 80% of MHI)
Supply of Affordable Housing Units Anticipated to be Created (2008-2012)
2012-2017
0
0
Market sales units for <$134,000 (affordable to households up to 80% of MHI)
225
225
Habitat for Humanity
0
0
New construction rental units (affordable to households up to 80% of MHI)
180
180
TOTAL AFFORDABLE HOUSING SUPPLYI
726
180
906
UNMET AFFORDABLE HOUSING DEFICIT
TOTAL DEMAND MINUS TOTAL SUPPLYI
i,sr.91
2,9021
4,471
Sources: 2008-2010 ACS 3-) ear Estimates, City of Georgetown calculations.
The local housing market has not addressed the affordable sales housing need for
households earning up to 80% of the area median income. Because the total affordable
housing supply for owner units (726) is less than the total affordable housing demand for owner
units (2,295) for the period 2010-2017. There is an already existing demand in Georgetown due to
cost -burdened households.
33
Similarly, the localmarket has not adequately addressed the affordable rental housing need
in Georgetown. The 180 affordable rental units estimated to be available will not provide sufficient
housing opportunities for the 3,082 lower income households in need of housing. As a result, there
exists a deficit of 12,902 affordable rental housing units in Georgetown. Public policy
recommendations made in Part 11 are tailored to ameliorate this situation.
As stated previously, the projections included in this section are based on the assumption that
current public policies impacting the creation of affordable housing remain unchanged. If, however,
new policies are approved that would provide incentives for the creation of new affordable housing
units, then the total affordable housing supply could be increased, thereby decreasing unmet need.
34
4. Rationale and Policy Recommendations
Rationale
The availability of housing for people at all income levels should be treated as an important issue
in Georgetown. For a city to be viable and sustainable in the long term, housing choices should
be available to people that choose to live and work within the same city.
ViabAty and Support of the Citizens
The provision of workforce housing provides for the continued viability of Georgetown. A
readily available pool of service employees are essential for the day-to-day operation of services
required by residents of the city. Having teachers, firefighters, police and utility workers able to
live within the community they serve allows the workforce to be more efficient and to be
connected with the community they serve. In addition, in the event of an emergency or natural
disaster, firefighters, police and utility workers will be onsite to provide immediate assistance. With
less time spent on commuting to and from work, employees will have more free time, be less tired
from travel and be more productive at work.
Economic Stability
The availability of housing at all price levels also provides for a direct economic benefit to the city.
New retail, manufacturing and commercial businesses look at a variety of factors when exploring
new locations for expansion. These prospective employers will be drawn to a community that
already has a readily available localworkforce that is supported by affordable housing alternatives
in the city. Availability of affordable housing, combined with Georgetown's many other positive
economic development attributes, places the city in a better position to draw new businesses.
Additionally, with a workforce that is able to live and work within the same location, individuals
and families are able to participate more in community activities, shop locally and contribute to the
tax base, which will enrich Georgetown.
Diversity of Community
Having a variety of housing choices promotes a diverse community with a variety of households
of different sizes, cultures and age groups. Young adults and seniors often desire smaller housing
with easy to manage maintenance, while families with children require more square footage and
yards to play in. With the changing demographics, different cultures have cross -generational
households requiring housing that meets the size and structure. A diversity of households and
family structures provides the city with a mix of residents that can provide a variety of skills and
experiences to educate and help each other.
Social Responsibility
It is important to offer reasonable choices to residents as their circumstances change. As heads of
households may find themselves laid -off or temporarily jobless, affordable housing for
economically disadvantaged and temporarily disadvantaged individuals and families become
important to allow current residents to stay in the community in which they are already
established. Availability of handicapped accessible homes as well as housing available to fixed
income households is also an issue, especially in an aging community such as Georgetown.
By addressing the current housing deficits and increasing the availability of housing options for
various income levels, through the following recommendations, Georgetown will continue to
35
foster a community that adequately supports its existing residents, attracts new economic growth
and provides an environment in which residents can thrive.
36
Recommendations
These recommendations offer a series of procedures that, when undertaken in whole or in part,
offer the potential to reduce the affordable housing deficit in the City of Georgetown. These
recommendations are ranked in order of their priority with a time frame for considering
implementation.
High Priority (One to five years)
Develop a program through which workforce housing developers can receive
incentives to provide new units. Waiving development fees and subsidizing impact fees
is the primary method the City has at its disposal to subsidize affordable housing. These
costs represent a significant portion of the development budget for an affordable housing
initiative and through this program; the City can offer a sliding scale of incentives to
encourage affordable development. This development will be dependent upon meeting
quantifiable scoring criteria, which can be established within the program.
Primary criteria to be considered and scored:
Amount of affordable housing included in the project: City will establish a percentage
requirement for the amount of workforce housing to be included in a particular project in
order to be considered for any city subsidy in the form of development and impact fee
credits.
Proximity to employment centers: The goal of workforce housing is to allow low to
middle-income employees the opportunity to live within the community in which they
work, while expanding the available workforce for current and future employers.
Infrastructure availability: Developers applying for the program will demonstrate that they
are efficiently locating the development to utilize the existing infrastructure such as roads,
electric, water and waste water lines.
Access to the road and pedestrian transportation network: While land located further
from the city center is often cheaper for developers, this will usually put a transportation
burden upon the future residents, effectively shifting any savings on housing to increased
transportation costs. Sites to be considered through the program must show the distances
and road network available to public services, retail centers and employment centers.
Relationship to the surrounding property /Appearance: Projects, whether single or
multifamily, should complement and be complemented by the types of development
adjacent to the site. Single-family residential units should not be out of scale and style with
existing single-family developments. Multifamily projects should not pose an actual
detriment to surrounding business or residences. Individual workforce housing units
included as a component of single or multi -family projects should be architecturally
indistinguishable from the market rate units within the same project. For any
development, it is also important to consider the demographic of future residents, the
proximity of schools, jobs, retail and civic services.
A basic return on investment analysis: The developer will be required to provide the
Board with a future impact analysis of the project showing what financial returns the City
can expect to see through increased tax and utility revenues. Combined with the overall
37
positive impact an increased population will have on the surrounding business community,
this will help offset any upfront subsidies the city may provide.
Incentives:
Waiver of development fees: Depending on the score of the project, the developer could
receive a waiver of up to 100 percent of Planning and Inspection Fees.
Subsidized impact fees: Impact fees include water, wastewater and electric fees that are
collected to offset the cost incurred by the public infrastructure system. The amount of
subsidy a developer can receive would be set on a graduated scale with the maximum
amount of 75 percent of total fees.
Increased land development densities: The City's Unified Development Code has several
lot development requirements that limit the amount of units a developer can put per acre.
Impervious cover limits, setback requirements, lot width minimums and height limits can
all be varied in such a way that developers can better utilize the land and develop more
units.
Program Management:
Developers wishing to receive incentives shall present a complete plan to the Housing
Advisory Board, which will be evaluated based on the criteria of the program. The Board
will then make a recommendation to City Council for consideration. Council may seek
evaluation and impact of project by city staff prior to making any final decision. Each case
will be reviewed individually and funding for the program will be dependant upon
budgetary restraints for that year.
Developers considering applying to the program will be able to get a packet of program
requirements with attached sample documents to allow for uniformity of applications and
ensure the ease of applying. The Housing Coordinator will be available to meet with any
developer wishing to take advantage of the program and will present completed
applications to the Housing Advisory Board and City Council with a report showing how
the project meets program requirements. As the project goes through the rest of the City
development processes, the Housing Coordinator will serve as the case manager.
2. Determine suitable multifamilyzoning locations with suBrcient services andland
use compatibility for an appropriate mix of housing types within the city. The City
of Georgetown is estimated to run a deficit of 2,902 affordable rental units by the year
2017. As the housing market demand is constantly shifting, it is important for the city to
be in a position to help create a new supply of housing to meet the needs of its residents.
In the current economic climate, the need for rental housing has increased, while the
supply and demand for single-family homeownership has leveled off or decreased. With
this shift, the housing market has an increasing demand for multifamily development. A
quick glance at the City's Zoning Map indicates a number of sites that have been zoned for
multifamily, however many of these are speculative in nature and will not have the
necessary infrastructure for 5 years or more. If the City is proactively planning for zoning
and determining areas for multifamily development, new developments will be able to find
appropriate multifamily sites. It can also avoid situations where a developer encounters
local resistance that may drive them from the city.
W]
There are provisions for medium and high-density residential units as components of
mixed-use developments that are adequately accounted for in the future land use map. It
should be recognized however that it is difficult for a developer of workforce housing to
incorporate commercial spaces in their developments due to the structure of financing
methods used to facilitate affordable residential development. It is impractical to think
that providing for medium and high-density residential development in mixed used zoning
classifications alone will adequately address the shortage ofworkforce housing.
The current multifamily deficit of 2,902 units as identified in this plan would require
approximately 120 to 160 acres of land. To address this deficit, the first step is to have the
planning staff review the 2030 Land Use Plan for any possible changes to the high-density
land use category. The Board willreview these possible alternatives and then forward any
change to City Council during the annual review of the Comprehensive Plan in the Spring.
This will actively plan for future high-density development sites.
Second, staff will review possible tracts within the city limits conducive for rezoning as
Multifamily to present to the Housing Advisory Board for consideration. In the analysis,
the following criteria should be examined:
• Consider sites close to major employment centers.
• Consider sites close to planned public transportation hubs.
• Consider sites near areas that may be less suitable for higher income housing.
• Consider sites close to existing high-density developments.
• Consider existing sites that are not conducive to higher income housing and as a
result are undeveloped.
Once a plan for potential rezoning has been made, the item will be forwarded to City
Council for review and direction. Any potential City or developer initiated rezoning of
tracts would still have to go through the public hearing process as mandated by state law.
Medium High Priority (Five to seven years)
3. Continue the Housing Diversity densitvincentives for newresidential construction.
The City currently provides a density bonus to development projects that include an
affordable housing component. To date, no developers have taken advantage of this
incentive. Overtime, as developers become more familiar with this provision in the City's
zoning code and as development sites become scarce, it is likely that developers will
become motivated to take advantage of this incentive. The City may wish to reevaluate the
incentive or provide public infrastructure support for projects that involve creating
affordable housing. The City may also wish to conduct a developer workshop to expand
awareness and to obtain feedback on how the housing diversity component of the City's
zoning code can be modified to expand the supply of affordable housing.
4. Prioritize the use ofHUD CDBGfunds for affordable housing. As of the 2010
Census, the City's population was 47,400. At the population mark of 50,000, the City of
Georgetown will become eligible for an annual Community Development Block Grant
(CDBG) entitlement grant directly from HUD. By City estimates, this will not happen
until 2014. While we still have time to plan for this, it is important to establish priorities for
39
the use of CDBG funds as a matter of public policy before entitlement s tatus is conferred
on the City. Early prioritization will minimize the confusion and competition to secure
CDBG funds for "pet" projects that inevitably occurs whenever grant money becomes
available in a community.
Rather than using this newfound source of revenue for activities that ease pressure on the
City's general fund, the community should prioritize the use of CDBG funds for
affordable housing. CDBG funds can be used to acquire property, rehabilitate affordable
housing, provide infrastructure improvements in support of affordable housing and
provide human services to the residents or prospective residents of affordable housing. In
certain circumstances, CDBG funds can be used to finance the construction of new
affordable housing, but only when the funds are funneled through a community based
nonprofit development corporation. Once the City's CDBG program is operating
smoothly, the City may want to work towards the designation of a neighborhood
revitalization strategy area (NRSA) which is a provision in the CDBG regulations that
makes it easier to utilize CDBG funds for mixed income housing initiatives.
5. Strengthen home buyer counseling and support services. Homebuyer counseling is
aimed at credit repair and building basic home maintenance and budgeting skills. As such,
it is an essential element of the affordable homeownership equation. While there are
certain counseling services already available in Georgetown, these types of services need to
be expanded and promoted. The City should encourage regional providers of counseling
services to create or expand their presence in Georgetown. Commercial lending
institutions and institutions of higher learning also have a vested interest in supporting or
providing homebuyer counseling services. When extending public funds for affordable
homeownership activities, the City should require each prospective homebuyer to
successfully complete a certified homeownership counseling program as a condition of
receiving financial assistance.
Medium Priority (Seven to ten years)
6. Seek out County CDBG funds and State HOMEfunds is support of affordable
housing initiatives; subcontract with local nonprofits toimplementprojects. One
of the important roles of the City in terms of expanding the supply of affordable housing
is to use its legal powers to apply for state and federal funds. Once funding approval has
been obtained, the City would act as a pass-through of funds to one or more local
development organizations. These organizations would then assume responsibility for
implementation of the project.
Williamson County is a CDBG entitlement urban county entity and the City of
Georgetown may submit project requests to the county's community development
department. Requests for federal HOME funds must be submitted to the state. The City
and its affordable housing partners should identify and prioritize a series of projects and
activities that would qualify for CDBG and/or HOME funding. Every year, the City
should submit at least one funding request under each program for priority projects.
The City currently administers a homeowner housing rehabilitation program funded by
general fund revenues. The City's guidelines for this program closely follow federal
requirements, including an income targeting provision that limits access to financial
assistance for households with incomes below 80% of the area median household income.
40
This housing rehabilitation program can be administered more efficiently by a local
nonprofit organization or the Georgetown Housing Authority. The City may wish to
enter into a cooperation agreement with a local housing organization to administer this
program.
7. Identify revitalization areas for concentratedinvestment. Given the limited supply of
resources for affordable housing, the City should select certain areas of the community for
intensive and comprehensive revitalization rather than pursuing a "shotgun" approach to
the development of affordable housing. Thus, it is important to ask city planners to select
several target areas for intensive revitalization. Each target area might consist of three or
four blocks. Typically, these areas will require the removal or substantial rehabilitation of
blighted properties, new lighting, sidewalks, streets, utility infrastructure, landscaping and
infill housing. At least some of the infill housing should be affordable to low and
moderate income households. This revitalization will benefit Georgetown as it improves
the tax base and adds to the labor force.
41