title
Receive the Fiscal Year (FY) 2021 Affordable Housing Annual Report.
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Staff:
Department:
Sarah Osmer Vi?as, Interim Director
Housing and Community
Faith Brodie, Director
Public Housing
Nate Broman-Fulks, Affordable Housing Manager
Housing and Community
Stacey Todd, Public Housing Management Analyst
Public Housing
Overview: This annual report on affordable housing activities for Fiscal Year 2021 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, and
* Public Housing highlights
Recommendation(s):
That the Council receive this Fiscal Year 2021 Annual Report.
Report Highlights:
Community Indicators
o The median household income in Chapel Hill rose to $90,400, which is an increase of $6,000 (or 7%) from 2019 to 2020 HUD Data.
o The median home value rose to $410,105, which is an increase of $26,000 (or 6%) from August 2019 to August 2020.
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.
Affordable Housing Results
o Housing and Community continues to focus on COVID-19 response efforts
o Town affordable housing partnership with DHIC wins state's highest honor in affordable housing, the 2020 Housing North Carolina Award
o The Town provided emergency housing assistance payments to 535 households. This assistance is reflected in the total units preserved.
o Council approved 198 affordable homes
o The Town awarded $1.8 million to community partners for affordable housing projects
o The Town awarded funding to 130 new development units
o The 2200 Homestead Road affordable housing development project received rezoning approval
o Selected development partners and completed Concept Planning process for Jay Street affordable housing development project
Public Housin...
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