AUSTIN, TX — A task force tackling institutional racism and social inequity in Austin is poised for an ambitious task unveiled on Tuesday: Raising $600 million for a fund specifically created to buy and preserve affordable housing for minority members of the population, with preference given to those already displaced due to gentrification.

City officials led by Mayor Steve Adler unveiled a report outlining the plan during a 1 p.m. work session. Joining Adler in releasing the task force report were its co-chairs, Huston-Tillotson University President Colette Pierce Burnette and Austin ISD Superintendent Paul Cruz.

The report contains more than 230 recommendations covering an array of ideas on mitigating the more corrosive aspects of gentrification. With the brisk pace of corporate relocation in Austin, an untold number of residents have been displaced — either no longer able to afford their homes given escalating property rates or essentially evicted from their dwellings as companies snap up land for corporate development.