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Agenda - 06-03-2021; 5 - Options to Expand Affordable Housing Incentives and Opportunities
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Agenda - 06-03-2021; 5 - Options to Expand Affordable Housing Incentives and Opportunities
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5/27/2021 3:05:05 PM
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6/3/2021
Meeting Type
Work Session
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Agenda
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5
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Agenda for June 3, 2021 Virtual Budget Public Hearing & Work Session
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Affordable Housing Continuum ^' !CD <br /> 30%AMI and below: 31%-50%AMI 51%-80%AMI 81-100%AMI <br /> Unsubsiclized low cost rental and homeownership housing/Naturally <br /> $21,990 and below $21,991-$36,650 $36,651-$58,640 $58,641-$73,300 <br /> Occurring Affordable Housing/Market <br /> Subsidized rental units(such as Low-Income Housing Tax Credit and USDA Rural Development funded units) <br /> Income-restricted homeownership units <br /> Public Housing <br /> Market rate rental and homeownership units <br /> Unsheltered/Shelters/Supportive <br /> 6,870 total households 5,080 total ZM <br /> seholds 4,750 total hohouseholds) (10%of Orange County (17%of Orange County households) (9%of Orange County households) <br /> 75%of households(5,160)are 69%of households(3,520)are 41%of households(3,725)are 22%of households(1,030)are <br /> cost burdened with 68%(4,700) cost burdened with 37%(1,855) cost burdened with 9%(805) cost burdened with 4%(210) <br /> spending morethan halfoftheir spending N- 11111 loftheir spending morethan halfoftheir spending morethanhalfoftheir <br /> � income on housing. income on housing. income on housing. income on housing. <br /> Harm reduction Housing First <br /> Permanent <br /> supportive <br /> Rapid rehousing <br /> Homelessness and on prevention <br /> Tenant protections <br /> housingInclusionary <br /> Preservation and rehabilitation <br /> Production(e.g.Low-income housing tax credits-ILIHTC,affordable housing bond funds,local housing trust funds,and development on town-owned land) <br /> Down payment <br /> Housing Counseling <br /> Orange County,Towns of Carrboro,Hillsborough and Chapel Hill,The State of North Carolina,North Carolina Housing Finance Agency(NCHFA)U.S. Private banking systems,equity investors, <br /> Department of Housing and Urban Development(HUD),Low Income Housing Tax Credits/Internal Revenue Service(IRS),Equity Investors NCHFA,TowWit f Chapel Hill <br /> Coordinated <br /> Service Providers <br /> Landlords/property <br /> Affordable housing d op <br /> Federal,State and Local Governments(The Towns of Carrboro, .pel Hill and Hillsborough,1 1 <br /> developers <br /> 'For consistency with population and cost burden data from 2013-2017,area median income(AMI)data is for 2017.AMI is calculated by HUD for a four person household and is available at:https://www.huduser.gov/portal/datasets/il.html#2017 <br /> 2Household and cost burden data from the HUD CHAS data set,2013-2017.Available at https://www.huduser.gov/PORTAL/datasets/cp.html.AMI is calculated here fora 4-person household. <br />
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