Leaders of a Central Texas city have approved a $3.5 billion annual budget that includes buying out about 300 more homes in flood-prone areas.
The Austin City Council on Tuesday approved next year’s budget and spending $78 million for residences along Onion Creek and Williamson Creek.
Austin will have to borrow the money for the latest buyout following deadly storms last October that damaged or destroyed hundreds of homes. Six people died in the flooding. Many of the homes were constructed before government maps began outlining flood plains.
City council members in June approved spending more than $30 million to buy about 140 homes. Austin previously purchased about 320 homes before last fall’s violent weather.
City staffers say property taxes will likely have to be raised due to the buyouts.
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