Agenda - 11-21-2013 - 1 - Laserfiche WebLink

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Attachment V 18 incentives could encourage the rehabilitation of older rental units while preserving relative affordability. Poor quality, they agreed, should not be the benchmark for affordable rent. Helping people stay in the homes they have (both owners and renters). Participants were concerned about four dynamics: continuing foreclosure risks due to predatory lending and the continuing recession; property taxes that inordinately burden fixed - income seniors and other low- income owners; the need for additional rehab /repair assistance for low- resource owners and landlords; and the vulnerability of unemployed renters and the disabled, who are subject to changes in Social Security Disability Insurance payments. The Importance of Transportation A consistent theme throughout the discussion was the importance of public transportation. Lack of access to public transportation increases residents' cost of living, and members of the Transportation Advisory Board (TAB) urged that transportation costs be included in any definition of "affordability." Unfortunately, most new housing development is being created in places without transit routes. Furthermore, weekend bus routes that pass through downtown Carrboro are far too limited. Ironically, parking requirements for housing and mixed -use developments further burden residents who do not drive or own a car. Attachment 2, Transportation Costs and Housing Affordability, was crafted and contributed by the TAB and offers a detailed analysis of the relationship between transportation and housing in Carrboro. A Word About Students Many participants raised the issue of the ever - increasing student market as a driver for higher rents. Not only does high student demand for units reduce availability of units better suited for families, but owners charge more for units demanded by students given the number of occupants likely to be sharing the rent. Some participants blamed the university for a lack of housing options on campus, yet the university has a substantial number of vacant on- campus units. According to university statistics, 2,820 students live in Carrboro. Co- facilitator Carley Ruff of the NC Housing Coalition pointed out that the vast majority of renters in Carrboro are not students. Student demand influences but does not fully account for the housing dynamics in town. Ruff suggested approaching this market issue from a different angle, engaging UNC around affordable housing as a partner- contributor, rather than as an adversary. "Students help sustain the town in other ways," she said. "Use their growth and needs as a tool to also meet the needs of the town." Page 1 4