Town of Chapel Hill header
Share to Facebook Share to Twitter Bookmark and Share
File #: [20-0805]    Version: 1 Name:
Type: Information Items Status: Filed
File created: 7/31/2020 In control: Town Council
On agenda: 11/18/2020 Final action: 11/18/2020
Title: Receive the First Quarter Fiscal Year (FY) 2021 Affordable Housing Report.
Attachments: 1. Affordable Housing Quarterly Report - Fiscal Year 2021 Quarter 1, 2. Council Questions with Staff Response
Related files: [21-0183], [21-0445], [21-0770]

 

 

title

Receive the First Quarter Fiscal Year (FY) 2021 Affordable Housing Report.

body

 

Staff:

Department:

Loryn B. Clark, Executive Director

Housing and Community

Sarah Osmer Viñas, Assistant Director

 

Nate Broman-Fulks, Affordable Housing Manager

 

 

Overview: This quarterly report on affordable housing activities for Fiscal Year 2021 tracks:

                     Community indicators related to the housing market and affordable housing,

                     Our progress toward affordable housing targets,

                     The status of projects funded with Town resources, and

                     General housing conditions in Chapel Hill.

 

Highlights of the report for the first quarter of FY 21 (July 1 - September 30, 2020) include:

                     The Town continues to focus on COVID-19 response efforts and supported 297 Emergency Housing Assistance payments for Town residents.

                     Staff released a Request for Qualifications (RFQ) to solicit interest from developers to redevelop the Trinity Court and/or Craig Gomains public housing communities.

                     Some of the key community indicators this year include:

o                     The median household income in Chapel Hill has continued to increase to $90,400, an increase of $6,000 (or 7%) from last year,

o                     The median home value is $410,105, an increase of $26,000 (or 6%) from last year,

o                     The percentage of cost-burdened renters has continued to rise with 58% of renters currently spending more than 30% of their income on housing expenses.

 

 

Recommendation(s):

That the Council receive this Fiscal Year 2021 first quarter report.

 

 

Attachments:

 

Affordable Housing Quarterly Report - Fiscal Year 2021 Quarter 1

 

 

 

end

 

The Agenda will reflect the text below and/or the motion text will be used during the meeting.

 

presenter

By accepting this report, the Council receives the first quarter Fiscal Year 2021 Affordable Housing Report (July - September).