Berkeley Public Library Tool Lending Library
I just wanted to post a link about this program offered by the Berkeley Public Library system. It's also offered by the libraries of Oakland and San Francisco. You can check out tools of all types (from hammers to cement mixers) with a valid library card and proof of residence. Amazing. I personally think this sort of program would be very popular in the Austin area as well.
Another great example of a tool library is the independent nonprofit Atlanta Tool Bank, which loans out tools to community groups for repairing homes and civic buildings, building theaters and play sets, etc. They live by donation, so check 'em out.