Town staff will present the Fiscal Year 2023 Affordable Housing Mid-Year Report to Council this evening highlighting the Town’s housing needs and progress towards reaching Council’s affordable housing goals.
Highlights from the Report for the period from July 1 – December 31, 2022 include:
Trinity Court received a 9% Low Income Housing Tax Credit Award from the North Carolina Housing Finance Agency. The award brings more than $10 million in funding to support the redevelopment of 54 units on the site of the currently vacant Trinity Court public housing community
Town Council approved an affordable housing funding plan that allocated $9.1 million to support affordable housing projects, the most funding ever allocated for affordable housing projects in Town history.
Council unanimously approved an expedited review process for affordable housing that reduces the development review timeline for projects with substantial affordable housing components to a maximum of six months.
Council approved the dedication of 8-9 acres of land on the Town-owned Legion Road parcel for affordable housing development.
Self-Help oversaw the rehabilitation of three units in the Northside neighborhood.
The Town released a Request for Proposals for Consulting Services for the creation of an affordable housing plan and is evaluating the responses received. The plan will inform the development of an Affordable Housing Investment Plan that will be incorporated into Council discussions about the Five-Year Budget.
This quarter, 184 Chapel Hill households received assistance through the County-wide Emergency Housing Assistance Program. This assistance is reflected in the total units preserved.
To help best make progress towards addressing the community’s significant housing needs, the Town is implementing an Affordable Housing Plan that focuses on: funding affordable housing projects, initiating development and preservation of housing, owning and managing housing, and creating and implementing housing policies. The Affordable Housing Quarterly Report is a tool to monitor the Town's progress in implementing the plan, share the status of projects funded with Town resources, and summarize key community indicators related to housing in Chapel Hill.
Interested in learning more about the Town’s affordable housing efforts? See the Town’s Affordable Housing Quarterly Report and staff’s Annual Report to Council, and www.chapelhillaffordablehousing.org!
