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Receive the First Quarter Fiscal Year (FY) 2022 Affordable Housing Report.
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Staff:
Department:
Sarah Osmer Vi?as, Director
Affordable Housing and Community Connections
Faith Brodie, Director
Public Housing
Nate Broman-Fulks, Affordable Housing Manager
Stacey Todd, Public Housing Management Analyst
Overview: This quarterly report on affordable housing activities for Fiscal Year 2022 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
* General housing conditions in Chapel Hill
* Public Housing Highlights
Recommendation(s):
That the Council receive this Fiscal Year 2022 first quarter report.
Highlights of the report for the first quarter of FY 22 (July 1 - September 30, 2021) include:
* The Town has continued to focus on COVID-19 response efforts and supported 174 Emergency Housing Assistance payments for Town residents. This assistance is reflected in the total units preserved.
* Some of the key community indicators this year include:
o The median household income for the Chapel Hill Metropolitan Statistical Area has decreased to $86,400, a decrease of $4,000 (or 5%) from last year.
o The median home value is $486,733, an increase of $76,000 (or 19%) from last year.
o The percentage of cost-burdened renters has stayed stable compared to last year's data at 57% of renters currently spending more than 30% of their income on housing expenses.
* This report also includes a quarterly report on the status of Public Housing operations and steps that we are taking to exceed expectations outlined by the U.S. Department of Housing and Urban Development. Highlights of the first quarter include:
o Continued COVID related efforts to ensure for the safety of staff and residents
o Expenditures and proposed actions for property restoration and tenancy management
o Continued implementation of the Public Housing Master Plan, i...
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