The Round Rock ISD Board of Trustees approved a Memorandum of Understanding (MOU) with the Texas Workforce Housing Foundation to help provide staff with affordable rent prices at four apartment complexes in the Round Rock and Austin area starting in August.
With the MOU approved, the foundation will establish an Affordability Fund of an initial minimum of $1 million at Legends Lakeline, Legends Lake Creek, Enclave at La Frontera and Lakeside at La Frontera to be used exclusively to provide rent discounts to District personnel that live at these apartment complexes. The level of discounted rent will depend on income level.
For example, staff making no more than 30 percent of the area median income or $36,690 could see a one-bedroom apartment priced at $1,295 be discounted to $621 and a two-bedroom apartment priced at $1,829 be discounted to $744. Staff making no more than 60 percent of the area median income or $73,380 could see the same priced one- and two-bedroom apartments be discounted to $1,242 and $1,489, respectively.
After the first year, the foundation will provide annual ongoing payments of at least $50,000 to each apartment complex. If new apartment complexes are established in the partnership throughout the year, the developments will be provided with the same initial payment the first year and the annual payments beginning the following year.
The MOU will not result in any cost to the District.
Starting in August, staff members who are current residents and/or who wish to pursue reduced rent rates at any of the properties are encouraged to contact the respective leasing offices at Legends Lakeline, Legends Lake Creek, Enclave at La Frontera and Lakeside at La Frontera.
For any other questions, staff are encouraged to email Texas Educator Housing Affordability Fund.
