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Attachment V 17 <br />Relevant National Trends <br />• Sellers market transitioned to a buyers <br />• Affordable housing bonding is happening <br />market <br />successfully in California. <br />• Transit - oriented development (TOD) <br />• Partnerships with developers <br />• Collapse of mortgage market <br />• Rehab assistance is being used successfully <br />• Local government bonuses (not just <br />to help some populations stay in their <br />density bonuses) are given in other places <br />homes <br />• Mixed use development is a national <br />• Misperceptions of low- income people <br />trends <br />makes some people resistant to affordable <br />housing, especially if built near them. <br />Housing Targets and Priority Goals <br />With quantifiable data and the aforementioned trends undergirding their discussions, dialogue <br />participants wrestled with a series of difficult questions related to their vision for affordable <br />housing and quality life in Carrboro. <br />Priority Demographics <br />While the Town's current policies are designed to increase access of affordable homeownership <br />opportunities, dialogue participants were equally concerned about the growing need for <br />affordable family rental units; for housing that serves the homeless and at -risk, including the <br />disabled; and for low -wage workers earning less than 60% of area median income. Participants <br />emphasized a vision for diverse housing options —and a diverse economy —that allow people to <br />live and work in Carrboro. <br />Priority Goals for Affordable Housing in Carrboro <br />Participants acknowledged there are many possible goals to achieve in designing and <br />implementing affordable housing. While narrowing possible goals to a manageable list proved <br />difficult, three goals resonated most with participants: <br />Increasing the supply of affordable housing units. Participants cited development density <br />and related restrictions; relative underutilization of the Low - Income Housing Tax Credit in <br />Orange County and Carrboro; and the need to incentivize affordable housing development <br />through a more predictable process and interpretation of guidelines, streamlined project <br />reviews, and more direct, bottom -line incentives. <br />Increasing the quality of housing stock while maintaining affordability. Participants <br />bemoaned the declining quality of the lower- priced —but not necessarily affordable — <br />housing in town. "We need to demand more," said one participant, referring to landlords <br />and property management companies. Participants wondered whether creative policies and <br />Page 1 3 <br />