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Receive the First Quarter Fiscal Year (FY) 2021 Affordable Housing Report.
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Staff: |
Department: |
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Loryn B. Clark, Executive Director |
Housing and Community |
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Sarah Osmer Viñas, Assistant Director |
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Nate Broman-Fulks, Affordable Housing Manager |
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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.
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Recommendation(s): |
That the Council receive this Fiscal Year 2021 first quarter report.
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Attachments: |
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• Affordable Housing Quarterly Report - Fiscal Year 2021 Quarter 1 |
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The Agenda will reflect the text below and/or the motion text will be used during the meeting. |
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By accepting this report, the Council receives the first quarter Fiscal Year 2021 Affordable Housing Report (July - September).