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Receive the Fiscal Year (FY) 2022 Affordable Housing Annual Report.
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Staff:
Department:
Sarah Osmer Vi?as, Director
Affordable Housing and Community Connections
Nate Broman-Fulks, Assistant Director
Overview: This annual report on affordable housing activities for FY 2022 tracks:
* Community indicators related to the housing market and affordable housing,
* The Town's progress toward affordable housing targets,
* The status of projects funded with Town resources,
* General housing conditions in Chapel Hill
Recommendation(s):
That the Council receive this Fiscal Year 2022 Affordable Housing Annual Report.
Fiscal Year 2022 Annual Report Highlights:
Community Indicators
* The median household income for the Chapel Hill Metropolitan Statistical Area was $86,400, a decrease of $4,000 (or 5%) from FY21.
* The median home value was $486,733, an increase of $76,000 (or 19%) from FY21.
* The percentage of cost-burdened renters stayed stable compared to FY21 data at 57% of renters currently spending more than 30% of their income on housing expenses.
Affordable Housing Results
* 123 affordable units approved by Council, including 102 in Town-initiated projects on Town-owned land
* $2.5 million awarded to community partners for affordable housing projects
* 105 new development units awarded funding from the Town
* Enhanced the Employee Housing Program, providing our first Homebuyer Assistance award to a Town employee
* Collaborated with local governments to create Manufactured Home Action Plan
* 492 households provided with Emergency Housing Assistance
Attachments:
* Draft Staff Presentation
* Affordable Housing Annual Report - Fiscal Year 2022
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The Agenda will reflect the text below and/or the motion text will be used during the meeting.
presenter
PRESENTER: Sarah Osmer Vi?as, Director of Affordable Housing and Community Connections
Nate Broman-Fulks, Assistant Director of Affordable Housing and Community Connections
RECOMMENDATION: ...
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