Austin leaders are looking to adjust the city's approach to creating new affordable housing, both in response to a new state law limiting some local affordability programs and to focus more on lower-income earners.

The details: Austin has used hundreds of millions of bond dollars to support new development with apartments or homes reserved for those earning a percentage of the MFI. The city also has several incentive programs that allow private developers to build larger residential projects if a share of the new housing units are income-restricted, typically capped at 60% to 80% MFI.

However, last year's Senate Bill 840 is affecting how some of those programs function while the local MFI has sharply increased for years, leading to more competition for affordable units and less housing set aside specifically for the lowest income levels.

What's next: City officials will continue to review new regulations and policy options over the coming months.

SPS PoolCare, headquartered in North Austin, announced the acquisition of Pool Troopers on Jan. 23.

The details: SPS PoolCare provides pool cleaning, maintenance and repair services across the Austin metro, and has other service areas throughout Texas, Florida, Arizona and Nevada. The acquisition of Pool Troopers will expand SPS PoolCare's reach to over 42,000 weekly recurring residential and commercial customers across 19 markets in five states, and the now-combined company is on track to perform over two million weekly recurring pool services in 2026.

Something to note: Pool Troopers will continue providing pool maintenance, repair and renovation services to its customers while benefiting from SPS PoolCare's technology platform and operational infrastructure. The Pool Troopers field teams will also remain intact, which representatives said will enable branches to maintain continuity in day-to-day operations, local decision-making authority and existing customer contracts and commitments.

• 9020 N. Capital of Texas Hwy., Austin

Global technology company Arm Inc. was awarded a $4.16 million state grant to support the expansion of its Austin campus, an estimated $71 million project.

The details: The award to United Kingdom-based Arm is the latest through the Texas Semiconductor Innovation Fund, or TSIF, the grant program established under the Texas CHIPS Act of 2023.

What's happening: The expansion project including a new semiconductor lab at Arm's Texas office, located at 5707 Southwest Parkway, Bldg. 1, Ste. 100, is expected to create more than 320 jobs. The facility is central to the design of advanced processors for mobile, cloud, and data center uses, according to Abbott's office.

The background: The new state grant is one of nearly two dozen awards announced through the innovation fund program since late 2024, a majority of which has been directed to the Central Texas region.