Austin City Council amends density bonus program for affordable housing
Austin City Council approved an update to the density bonus program
A tenant at Acacia Cliffs has been fighting a rezoning request from developers
AUSTIN, Texas - Austin City Council approved an update to the density bonus program, which is to help with affordable housing.
For months, tenants at Acacia Cliffs, an affordable apartment complex in Northwest Austin, have been fighting a rezoning request from developers that would make it a newer, taller complex.
Local perspective
Eric Gomez has lived at Acacia Cliffs since 2016.
"Right now, my rent's $1,088, and that's not including the fees they add to it," Gomez said. "If I had to pay $1,200, $1,300, considering how grocery prices have skyrocketed, that I'm a federal employee, and they're looking to cut, to basically make our benefits more expensive, cutting back on our overtime. I wouldn't be able to afford it."
The rezoning request uses DB90, a density bonus program, which was meant for more affordable housing by allowing taller buildings. The mayor says there have been "unintended consequences."
There could be fewer affordable units when the place is redeveloped.
Under the current DB90, a developer is only required to have 12 percent affordable housing. At Acacia Cliffs, that would be 84 out of 290 units.
"They can rezone it from a multifamily residence to a commercial residence and then apply DB90 and not have the protections there for the tenants. This, of course, would end up being catastrophic for many of those working families," Gomez said.
Acacia Cliffs tenants are calling on the City Council to require developers to replace any demolished affordable units, so those like Gomez can stick with their affordable housing.
"I really do not know where I would live, and I really like where I live. It's close to everything that I like," he said.
Many council members agree on closing the loophole.
Council member Vanessa Fuentes proposed an amendment for a one-to-one unit replacement.
What they're saying
Michael Whellan, Attorney with Armbrust & Brown, PLLC, represents the developers. In a statement, he says:
"We acknowledge that this is a difficult case, but it is important to keep in mind that the city already allows this property to be redeveloped today. The problem is that the current rules don't require any affordability or tenant assistance at all. What we're proposing would lock in a meaningful tenant assistance package as well as brand new affordable units that the city will continue to monitor and guarantee for the next 40 years."
He goes on to say:
"The current units rent at lower levels because they're older. But older units also start to fail. They start to have problems, no matter how hard you work to keep on top of them. And older buildings eat up a lot of energy and let stormwater run off without detaining or treating it. That all starts to add up. What we're proposing would address all of that, while also locking in new affordable housing and tenant protections."
The Source
Information from interviews conducted by FOX 7 Austin's Angela Shen, statements from Austin City Council members, and statements from an attorney
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Black America Web
2 hours ago
- Black America Web
T-Mobile Removes DEI Programs Just In Time For FCC To Approve Mergers
Source: picture alliance / Getty Boy, I tell ya, 2025 has really been the year of finding out how many companies don't value Black dollars. Cell service provider T-Mobile is the latest company announcing an end to its commitment to diversity, equity, and inclusion (DEI) initiatives to appease the Trump administration. Last week, T-Mobile sent a letter to Federal Communications Commission (FCC) Chair Brendan Carr stating it was ending its DEI initiatives 'not just in name, but in substance.' T-Mobile has removed any mention of DEI on its website and employee training manuals, and no longer has any positions or teams dedicated to DEI. 'This is another good step forward for equal opportunity, nondiscrimination, and the public interest,' Carr wrote in response to T-Mobile's letter. On Friday, the FCC approved T-Mobile's acquisitions of regional carrier United States Cellular and internet provider Metronet in two separate transactions. Most of the companies that've made similar moves have at least tried to soften it with some corporate speak about how 'we stand committed to creating a welcoming environment for all customers,' but T-Mobile really stood 10 toes down here. 'Not just in name, but in substance,' is crazy work and tells T-Mobile's Black, Brown, and LGBTQ employees and customers that it has no problem throwing them under the bus when it's politically expedient. FCC Commissioner Anna Gomez, a Democrat, criticized T-Mobile's decision, calling it 'yet another cynical bid to win FCC regulatory approval. T-Mobile is making a mockery of its professed commitment to eliminating discrimination, promoting fairness, and amplifying underrepresented voices.' What's interesting to me is that the GOP loves to go on and on about 'ideological purity tests' and then use their power to punish any individual or organization that doesn't agree with their ideology. Throughout his tenure as FCC Chair, Carr has shown no hesitation in weaponizing his position to target any company that has DEI initiatives he agrees with. He most notably opened an investigation into NBC over Comcast's DEI policies earlier this year. In an interview with Bloomberg, Carr openly said, 'Any businesses that are looking for FCC approval, I would encourage them to get busy ending any sort of their invidious forms of DEI discrimination.' Carr's willingness to use the FCC's merger approval process to pressure companies into removing their DEI initiatives has drawn criticism from House Democrats, resulting in the House Committee on Energy and Commerce opening an investigation into Carr. As a result of the Trump administration's crackdown on DEI initiatives, this year has seen several companies announcing an end to their DEI programs. While it may have gained them favor with the Trump administration, it hasn't gone over smoothly with consumers. Several consumer boycotts have been launched this year over companies removing their DEI programs, with Target being the most notable. The company announced in January it'd be winding down its commitment to DEI and is steadily facing the consequences of that decision. Several consumer boycotts were launched by Rev. Jamal Bryant and Minnesota activist Nekima Levy Armstrong, resulting in foot traffic being down in stores, and the company posting a sales loss during its quarterly earnings report in May. Consumer boycotts over DEI closures are so effective that companies are listing them as potential risks for investors. While T-Mobile may gain the FCC's approval, it's now running the risk of alienating a substantial part of its consumer base. SEE ALSO: Stacey Abrams Warns Companies Dropping DEI, 'It Costs You' Survey: High-Level Business Execs Say DEI Is Necessary SEE ALSO T-Mobile Removes DEI Programs Just In Time For FCC To Approve Mergers was originally published on
Bloomberg
3 hours ago
- Bloomberg
Barcelona to Limit Cruise Ship Visits by Reducing Port Capacity
Barcelona is set to reduce the number of port terminals for cruise ships in the city's latest attempt to limit the number of tourist visits. Spain's third-largest port will cut the number of terminals used by cruises to five from seven, with the aim of making the arrival of the ships 'more controlled and sustainable,' Barcelona's city council said in a statement Thursday.
Yahoo
5 hours ago
- Yahoo
3M Reports Second-Quarter 2025 Results, Increases Full-Year EPS Guidance
GAAP sales of $6.3 billion, up 1.4%; operating margin 18.0%, down (230) bps; EPS of $1.34, down 38%, all YoY Adjusted sales of $6.2 billion with organic growth of 1.5% YoY Adjusted operating margin of 24.5%, up 290 bps YoY Adjusted EPS of $2.16, up 12% YoY Operating cash flow of $(1.0) billion with adjusted free cash flow of $1.3 billion 2025 adjusted EPS guidance increased from $7.60 - $7.90 to $7.75 - $8.00, including the impact of tariffs ST. PAUL, Minn., July 18, 2025 /PRNewswire/ -- 3M (NYSE: MMM) today reported second-quarter 2025 results. "We delivered strong results in the second quarter, posting positive organic sales growth and double-digit EPS growth," said William Brown, 3M Chairman and CEO. "This continues our trend from Q1 with all three business groups growing organically for the third quarter in a row. Our 3M eXcellence operating model is the foundation for delivering on each of our strategic priorities, and it drives the operating rigor and rhythm of our performance culture. With execution improving and solid results in the first half, we have confidence in our increased full-year EPS guidance, which now embeds the expected impact of tariffs." Second-quarter highlights: Q2 2025Q2 2024GAAP EPS from continuing operations (GAAP EPS)$ 1.34$ 2.17Special items:Net costs for significant litigation 0.790.44(Increase) decrease in value of Solventum ownership0.01(2.00)Pension risk transfer charge—1.09Manufactured PFAS products0.02—Divestiture costs—0.23Adjusted EPS from continuing operations (adjusted EPS)$ 2.16$ 1.93Memo:GAAP operating income margin18.0 %20.3 %Adjusted operating income margin24.5 %21.6 %GAAP EPS of $1.34 and operating margin of 18.0%. Adjusted EPS of $2.16, up 12% year-on-year. Adjusted operating income margin of 24.5%, an increase of 2.9 percentage points year-on-year. GAAPAdjusted (non-GAAP)Net sales (billions)$6.3$6.2Sales changeTotal sales 1.4 %2.3 %Components of sales change:Organic sales0.61.5Acquisitions/divestitures——Translation0.80.8Adjusted sales excludes manufactured PFAS of $6.3 billion, up 1.4% year-on-year with organic sales up 0.6% year-on-year. Adjusted sales of $6.2 billion, up 2.3% year-on-year with adjusted organic sales up 1.5% year-on-year. 3M returned $1.3 billion to shareholders via dividends and share repurchases. Cash from operations of $(1.0) billion, driven by $2.2 billion net after tax payments for special item costs of significant litigation, primarily Public Water Systems and Combat Arms Earplugs. Adjusted free cash flow of $1.3 billion. This document includes reference to certain non-GAAP measures. See the "Supplemental Financial Information Non-GAAP Measures" section for applicable information. Updated full-year guidance 3M updated its full year 2025 guidance given the company's performance in the first half of the year. The updated guidance includes the impact from tariffs. Adjusted total sales growth1 in the range of ~2.5 percent, reflecting adjusted organic sales growth1 of ~2.0 percent. Adjusted EPS1 in the range of $7.75 to $8.00. Adjusted operating cash flow1 of $5.1 to $5.5 billion, contributing to >100 percent adjusted free cash flow conversion1. 1As further discussed at 4 within the "Supplemental Financial Information Non-GAAP Measures" sections, 3M cannot, without unreasonable effort, forecast certain items required to develop meaningful comparable GAAP financial measures and, therefore, does not provide them on a forward-looking basis reflecting these items. Conference call 3M will conduct an investor teleconference at 9 a.m. ET (8 a.m. CT) today. Investors can access this conference via the following: Live webcast at Webcast replay at Consolidated financial statements and supplemental financial information non-GAAP measures View the Financial Statement Information on 3M's website: Forward-looking statements This document contains forward-looking statements. You can identify these statements by the use of words such as "plan," "expect," "aim," "believe," "project," "target," "anticipate," "intend," "estimate," "will," "should," "could," "would," "forecast," "future," "outlook," "guidance" and other words and terms of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events and trends that are subject to risks and uncertainties. Actual future results and trends may differ materially from historical results or those reflected in any such forward-looking statements depending on a variety of factors. Among the factors that could cause actual results to differ materially are the following: (1) worldwide economic, political, regulatory, international trade, geopolitical, capital markets and other external conditions and other factors beyond the Company's control, including inflation; recession; military conflicts; trade restrictions such as sanctions, tariffs, reciprocal and retaliatory tariffs, and other tariff-related measures; regulatory requirements, legal actions, or enforcement; and natural and other disasters or climate change affecting the operations of the Company or its customers and suppliers; (2) foreign currency exchange rates and fluctuations in those rates; (3) liabilities and the outcome of contingencies related to certain fluorochemicals; known as "PFAS," including liabilities related to claims, lawsuits, and government regulatory proceedings concerning various PFAS-related products and chemistries, as well as risks related to the Company's plans to exit PFAS manufacturing and work to discontinue use of PFAS across its product portfolio; (4) risks related to the class-action settlement ("PWS Settlement") to resolve claims by public water suppliers in the United States regarding PFAS, as well as risks related to other settlements related to PFAS; (5) legal proceedings, including significant developments that could occur in the legal and regulatory proceedings described in the Company's reports on Form 10-K, 10-Q, and 8-K (Reports), as well as compliance risks related to legal or regulatory requirements, government contract requirements, policies and practices, or other matters that require or encourage the Company or its customers, suppliers, vendors, or channel partners to conduct business in a certain way; (6) competitive conditions and customer preferences; (7) the timing and market acceptance of new product and service offerings; (8) the availability and cost of purchased components, compounds, raw materials and energy due to shortages, increased demand and wages, tariffs, supply chain interruptions, or natural or other disasters; (9) unanticipated problems or delays when implementing new business systems and solutions, including with the phased implementation of a global enterprise resource planning (ERP) system, or security breaches and other disruptions to the Company's information or operational technology infrastructure; (10) the impact of acquisitions, strategic alliances, divestitures, and other strategic events resulting from portfolio management actions and other evolving business strategies; (11) operational execution, including the extent to which the Company can realize the benefits of planned productivity improvements, as well as the impact of organizational restructuring activities; (12) financial market risks that may affect the Company's funding obligations under defined benefit pension and postretirement plans; (13) the Company's credit ratings and its cost of capital; (14) tax-related external conditions, including changes in tax rates, laws or regulations; (15) matters relating to the spin-off of the Company's Health Care business, including the risk that the expected benefits will not be realized; the risk that the costs or dis-synergies will exceed the anticipated amounts; potential impacts on the Company's relationships with its customers, suppliers, employees, regulators and other counterparties; the ability to realize the desired tax treatment; risks under the agreements and obligations entered into in connection with the spin-off; and (16) matters relating to Combat Arms Earplugs ("CAE") and related products, including those related to, the August 2023 settlement that is intended to resolve, to the fullest extent possible, all litigation and alleged claims involving the CAE sold or manufactured by the Company's subsidiary Aearo Technologies and certain of its affiliates ("Aearo Entities") and/or the Company ("CAE Settlement"). A further description of these factors is located in the Reports under "Cautionary Note Concerning Factors That May Affect Future Results" and "Risk Factors" in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part II, Item 1A (Quarterly Reports). Changes in such assumptions or factors could produce significantly different results. The Company assumes no obligation to update any forward-looking statements discussed herein as a result of new information or future events or developments. About 3M3M (NYSE: MMM) is focused on transforming industries around the world by applying science and creating innovative, customer-focused solutions. Our multi-disciplinary team is working to solve tough customer problems by leveraging diverse technology platforms, differentiated capabilities, global footprint, and operational excellence. Discover how 3M is shaping the future at Please note that the company announces material financial, business and operational information using the 3M investor relations website, SEC filings, press releases, public conference calls and webcasts. The company also uses the 3M News Center and social media to communicate with our customers and the public about the company, products and services and other matters. It is possible that the information 3M posts on the News Center and social media could be deemed to be material information. Therefore, the company encourages investors, the media and others interested in 3M to review the information posted on 3M's News Center and the social media channels such as @3M or @3MNews. Contacts3MInvestor Contacts:Diane Farrow, 612-202-2449orEric Herron, 651-233-0043Media Contact:3MNews@ View original content to download multimedia: SOURCE 3M Company
