Austin Chamber of Commerce Board of Directors announces positions on bonds

Posted on 10/06/2022

The Austin Chamber of Commerce Board of Directors has taken the position to support several Austin-area bond propositions that will be on the ballot in November.

The City of Austin, Austin Independent School District, and Austin Community College have bond proposals on the ballot this November that provide an opportunity to make generational investments into Austin’s education infrastructure and support affordable housing.

The Austin Chamber of Commerce Board of Directors heard briefings on the proposed bonds, and Chamber committees also heard briefings from organizations supporting and opposing the bonds. On Thursday, Sept. 22, the board voted to endorse the committee recommendation and support the City of Austin’s housing bond, the ACC bond, and all three AISD bond propositions. The Chamber board also supported the bond propositions put forth by Pflugerville Independent School District.

“These bonds represent badly needed investments in education, workforce, and housing, said Susan Nold, Senior Vice President for Policy & External Affairs for the Austin Chamber of Commerce. “ACC, AISD, and PFISD are investing in school safety, modernization, and workforce education to ensure we have well-educated students who can enter the workforce with skills that meet the needs of families and the diverse businesses here. The City of Austin is tackling housing affordability to ensure that people struggling the most in this area can continue to take part in the Austin economy and live in Austin.”

City of Austin Bond

Funds would go toward creating more affordable rental units, repairs for homeowners, and building housing for people transitioning from homelessness. The annual impact to the homeowner with an average valued home is an increase of $46.59, an average of $3.88 per month.

Austin Community College Bond

ACC's $770 million bond will expand training capacity for high-demand fields such as health care and advanced manufacturing. ACC said it would include new campuses in southeast and southwest Travis County. A taxpayer with a home worth $500,000 would see an increase of $5 per year over the first five years, maxing out at $25 per year—an average of $1.25 per month over five years.

Austin Independent School District Bond

Austin school district's $2.44 billion will be split into three propositions:

Proposition A: General Purpose $2,316,025,000
Proposition B: Technology $75,541,000
Proposition C: Stadiums $47,434,000

The estimated impact on an average homeowner would result in a tax increase of $4.54 per month, or just under $55 per year.

Pflugerville Independent School District Bond

The Pflugerville ISD bond will be broken out into multiple propositions addressing a variety of issues:

  • Proposition C: $190M for School Building Infrastructure and Improvements
  • Proposition D: $54M for Technology Devices and Related Infrastructure
  • Proposition E: $3M for Performing Arts Facility Renovations
  • Proposition F: $400K for Stadium Improvements
  • Proposition G: $76M for a District-wide CTE Center
  • Proposition H: $43,924,000 for Affordable Teacher Housing

The total impact on the average Pflugerville taxpayer if all bonds pass is estimated to be an average of $9.67 per month.

“The level of growth in Austin continues to be unprecedented,” said Fred Heldenfels IV, Chair of the Austin Chamber of Commerce Board of Directors. “Private investment certainly follows growth, and our public entities also need investment. With the voters' support, these bond investments will support needed investments in education and housing to help keep up with growth and drive continued opportunity and prosperity in Central Texas. I encourage all entities to commit to financial transparency regularly and reporting performance results to build taxpayer trust.”

Early voting begins on Monday, October 24, and Election Day is Tuesday, November 8.