TO: Mayor and Members of City Council
THRU: Kelly Olivera, Assistant City Manager
FROM: Christopher Cauley, MPA, Director of Economic and Community Development
DATE: September 5, 2024
RE:
Title
Affordable Housing Strategies and Update
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal 2: Responsive city government supporting a diverse & viable economy
Goal 3: City investment in today & tomorrow
Goal 4: Desirable place to live, work, & recreate
Goal 5: Financially sound city providing exemplary city services
Goal 6: Collaborative citizen & business engagement base
Executive Summary:
The Economic and Community Development Department (ECD) has prioritized Affordable Housing over the past five years, beginning with an Affordable Housing Study started in 2020 and adopted in 2021. Since that time, a variety of new efforts have been launched. This presentation is an update to the prior study and a discussion of next steps for City Council and staff.
Background:
The ECD is funded through a variety of federal, state, and local funding sources to increase and improve affordable housing in our City. Governed by federal regulations and North Carolina law, Cities can partner with the private sector to increase the supply and quality of affordable housing.
Issues/Analysis:
The ECD has performed analysis of the real estate market, rental market, and most recent census data to show the need for to continue current housing strategies and consider increased funding for those efforts.
Budget Impact:
All activities discussed within this presentation are federally funded with a local match requirement. Staff salaries are funded through a combination of federal and local funds. State funds are utilized for some housing programs.
Options:
Receive the Report
Recommended Action:
This report is for information only.
Attachments:
Presentation Affordable Housing Strategies Sept 5 Special Session