"...Housing officials have been making noise lately about acting as full partners in affordable housing construction, and it appears they mean to deliver on that promise. The city's own nonprofit Austin Housing Finance Corporation, for which the City Council serves as the governing board, will own the land and be responsible for hiring engineers and builders..."
"...Despite investing a quarter-million dollars into Bent Tree since the agency bought it three years ago, AAHC keeps the rents approximately $90 below those in the surrounding area, at what it calls a "fair market value." Several measures serve to offset the agency's costs. One is due diligence in purchasing properties at a good price; the corporation's tax-free status also lets it keep and reinvest more of its earnings..."