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Receive the Fiscal Year (FY) 2023 Affordable Housing Annual Report.
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Staff: |
Department: |
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Sarah Osmer Viñas, Director |
Affordable Housing and Community Connections |
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Emily Holt, Affordable Housing Manager |
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Overview: This annual report on affordable housing activities for FY 2023 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,
• Key affordable housing results for the year
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Recommendation(s): |
That the Council receive this Fiscal Year 2023 Affordable Housing Annual Report.
Fiscal Year 2023 Annual Report Highlights
Affordable Housing Results
• $10 million awarded to community partners for affordable housing projects, which will provide support to the development of 300 new units.
• UNC Health committed $5 million to initiate an affordable housing revolving loan fund.
• 163 affordable units received development approval from Council in six market rate projects, or about 10% of approved units.
• The Perry Place affordable housing community is fully occupied, including 24 units in Chapel Hill serving households earning less than 60% of the Area Median Income.
• The Town worked with a consultant team from HR&A Advisors to create an affordable housing plan and investment strategy, which charts a path forward for the Town’s key affordable housing priorities over the next 5 years.
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Attachments: |
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• Affordable Housing Annual Report - Fiscal Year 2023 |
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• Affordable Housing and Community Connections Annual Report Fiscal Year 2023 |
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The Agenda will reflect the text below and/or the motion text will be used during the meeting. |
presenter
By accepting the report, the Council acknowledges receipt of the Fiscal Year 2023 Affordable Housing Annual Report.