TOWN OF CHAPEL HILL - File #: [22-0701]

• File #: [22-0701]
• Version: 1
• Type: Discussion Item
• Status: Filed
• File created: 7/27/2022
• In control: Town Council
• On agenda: 9/28/2022
• Final action: 9/28/2022
• Title: Receive the Fiscal Year (FY) 2022 Affordable Housing Annual Report.
• Related files: [21-0869], [22-0065], [22-0379]

Date	Ver.	Action By	Action	Result
9/28/2022	1	Town Council	received and filed

title

Receive the Fiscal Year (FY) 2022 Affordable Housing Annual Report.

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Staff:	Department:
Sarah Osmer Viñas, Director	Affordable Housing and Community Connections
Nate Broman-Fulks, Assistant Director

Overview: This annual report on affordable housing activities for FY 2022 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

Recommendation(s):

That the Council receive this Fiscal Year 2022 Affordable Housing Annual Report.

Fiscal Year 2022 Annual Report Highlights:

Community Indicators                      

•                     The median household income for the Chapel Hill Metropolitan Statistical Area was $86,400, a decrease of $4,000 (or 5%) from FY21.

•                     The median home value was $486,733, an increase of $76,000 (or 19%) from FY21.

•                     The percentage of cost-burdened renters stayed stable compared to FY21 data at 57% of renters currently spending more than 30% of their income on housing expenses.

Affordable Housing Results

•                     123 affordable units approved by Council, including 102 in Town-initiated projects on Town-owned land

•                     $2.5 million awarded to community partners for affordable housing projects

•                     105 new development units awarded funding from the Town

•                     Enhanced the Employee Housing Program, providing our first Homebuyer Assistance award to a Town employee

•                     Collaborated with local governments to create Manufactured Home Action Plan

•                     492 households provided with Emergency Housing Assistance

	Attachments:
	• Draft Staff Presentation
	• Affordable Housing Annual Report - Fiscal Year 2022

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

presenter

PRESENTER: Sarah Osmer Viñas, Director of Affordable Housing and Community Connections

Nate Broman-Fulks, Assistant Director of Affordable Housing and Community Connections

RECOMMENDATION: That the Council receive the Fiscal Year 2022 Affordable Housing Annual Report.