Affordable Housing2022-2042 Comprehensive PlanAffordable HousingClimate Action & EnvironmentTransportation & MobilityGreen Stormwater Infrastructure, Water, & EnergyEconomic SustainabilityRecreation, Parks, & Cultural ResourcesLand Use
Strategy Alignment Report1.1: Increase development of for-sale affordable housing units for households earning up to 80% of AMI.1.2: Reduce barriers to first-time homebuyers and to homeownership retention, affirmatively marketing to BIPOC and to historically disadvantaged households.1.3: Support and build upon the land trust model and investigate other examples to acquire as well as keep housing permanently affordable, such as cooperative housing.Strategy 1.1: Increase development of for-sale affordable housing units for households earning up to 80% of AMI.Strategy 1.2: Reduce barriers to first-time homebuyers and to homeownership retention, affirmatively marketing to BIPOC and to historically disadvantaged households.Strategy 1.3: Support and build upon the land trust model and investigate other examples to acquire as well as keep housing permanently affordable, such as cooperative housing.Strategy 2.1: Continue to support rental housing development through the Affordable Housing Fund and leveraging other resources.Strategy 2.2: Create targeted rental programs for extremely low-income households (less than 30% AMI).Strategy 2.3: Ease the pressure on rental prices by increasing affordable rental housing stock, particularly in high-transit areas.Strategy 3.1: Expand the provision of Accessory Dwelling Units. (ADUs)Strategy 3.2: Support affordable housing options for older adults and persons with different abilitiesStrategy 3.3: Preserve existing mobile home parks and identify possible locations for additional mobile and manufactured housing.Strategy 3.4: Assist with acquisition of land for affordable housing.Strategy 4.1: Preserve existing for-sale naturally occurring housing.Strategy 4.2: Reduce erosion of rental housing quality and affordability.Strategy 4.3: Preserve existing affordable rentals such as those with expiring tax credits.Strategy 4.4: Preserve and expand opportunities for “missing middle” housing.Strategy 4:5: Increase funding to support housing weatherization and preservation, continuing and expanding upon the Weatherization Assistance Program (WAP) to maximize weatherization of low-income homes by 2030.Strategy 5.1: Ensure emergency care and shelter is provided when needed.Strategy 5.2: Help extremely low-income households and people experiencing homelessness transition to permanent affordable housing.Strategy 5.3: Prevent homelessness.Strategy 6.1: Continue to invest in the Affordable Housing Fund.Strategy 6.2: Engage the community on the need for affordable housing and explore passage of an Affordable Housing Bond.Strategy 6.3: Pursue state and federal housing grants and programs.Strategy 7.1 Find ways to provide free broadband by using the town’s expanding broadband network.Strategy 7.2 Weatherize all affordable housing by 2030. (See Project 4.5)Strategy 7.3 Make photovoltaic installations accessible to low-income housing.
What We Will MeasureNumber of new affordable for-sale homes and number of preserved affordable homes for households up to 80% Area Median Income (AMI) that have long-term affordability restrictionsNumber of new rental units and number of preserved rental units for households up to 60% of AMIHomeowner cost burden for households at 30%, 50% and 80% of AMIRenter cost burden for households at 20%, 50% and 80% of AMI
ProjectsA Establish bi-annual goals for the development of affordable for-sale homes tailored to different price points.B Match housing strategies to targeted needs by price point and household type.C Seek funding sources to meet the gap in financing additional affordable housing units.Seek funding and resources to expand the capacity of organizations that provide homeownership counseling services for new buyers, income-eligible existing homeowners, and prospective homebuyers to expand the pool of eligible applicants and reduce the likelihood of foreclosure.B Expand the use of cooperatives and other limited equity housing models to provide homeownership opportunities to prospective owners that may not otherwise be able to afford their homes. This can be part of mixed-income or stand-alone affordable developments of single-family homes, townhomes, or condominiums.A Expand the reach of cooperative housing models, Community Home Trust, Habitat for Humanity of Orange County, to reach more households and at different income thresholds. Work with partners to expand the cooperative housing and land trust models to offer a broader array of tools to preserve affordable housing and market the programs to renters and low- to moderate income households interested in purchasing homes. A Establish bi-annual goals for the development of affordable for-sale homes tailored to different price points that are affordable up to 80% AMI at different household sizes.B Match housing strategies to targeted needs by price point and household type. Identify strategies and partner organizations that can provide additional affordable units.C Seek funding sources (see Goal 6) to meet the gap in financing additional affordable housing units.A Expand the reach of cooperative housing models, Community Home Trust, Habitat for Humanity of Orange County, to reach more households and at different income thresholds. Work with partners to expand the cooperative housing and land trust models to offer a broader array of tools to preserve affordable housing and market the programs to renters and low- to moderate-income households interested in purchasing homes.A Invest in rental housing projects that provide additional units for targeted income groups up to 60% AMI and historically marginalized communities. Expand the toolbox of affordable housing incentives by developing greater incentives for rental units that meet lower income levels at the 30% and 60% AMI levels.B Expand rental units in existing developments through providing additional financial resources and incentives. Target Affordable Housing Fund resources to expand new affordable rental through redevelopment agreements.C Utilize the Racial Equity Assessment Lens (REAL) in designing and implementing rental programs and developing affordable housing.A Work with Orange County to support programs that expand use of vouchers and landlord acceptance of housing vouchers. Participate in the County’s efforts to educate landlords on the benefits of accepting vouchers and non-discrimination based on source of income. Refer residents to the County to coordinate ongoing services to voucher-holders to assist them in workforce training, career development, accessing day care, elder care, health care, etc. so that they can build household earnings and thB Encourage applicants to the Affordable Housing Fund to reserve units for extremely low-income households and target the Fund’s investment to making these projects financially viable.A Partner with existing rental developments to investigate strategic additions of new affordable units. Provide outreach to owners of existing rental developments to determine interest in adding housing units that meet the goal of at least 15% of new units to be affordable. This can be done by strategic reductions in setbacks, parking requirements or increased number of units to 150% of all, if meeting the affordable housing goal.B Create redevelopment incentives that include affordable housing set-asides for rental housing units. Explore the creation of a new affordable housing incentive that is targeted at redevelopment opportunities, to support the creation of new rental units in existing built-up areas. This could be done through an increase in the density bonus, reduction in parking and/or setbacks. Explore the redevelopment of vacant commercial properties for affordable housing.C Encourage the redevelopment of commercial properties to provide affordable housing as a part of mixed-use developments.A Reform ADU standards in the Land Use Ordinance to allow for ADUs on more lots (see Land Use Chapter).B Provide incentives for ADUs that are dedicated as permanently affordable for up to 80% of AMI.C Use best practices to minimize limitations on property owners’ ability to use ADUs as a tool to maximize the value of their property and to expand housing opportunities.A Identify sites for active adult, age-restricted housing and accessible housing including criteria such as access to transit, sidewalks, neighborhood amenities, access to food, health care and services. Identify sites that are appropriate for affordable housing options for older adults including vacant or underutilized land that is close to amenities and transportation.B Identify funding resources to invest in new or preservation of existing affordable senior housing.A Preserve manufactured home communities to create resident-owned communities, acquisition opportunities, land banking, rehab and repair and creation of an early warning system. Consider factors of age of homes, condition, safety, etc. in evaluating renovation plans.B Minimize resident displacement due to redevelopment through home construction as a part of redevelopment, master planning, and using publicly owned land.C Create a Relocation Assistance Package through proactive engagement with residents, housing search assistance, identification of open lots, financial assistance for relocation, and securing new housing.Create Affordable Housing Partnerships and Explore Land Acquisition C Encourage market-rate developers to team with affordable housing developers. Increase the production of affordable housing by encouraging development teams to meet multiple Town goals for affordable housing, economic sustainability, and opportunities for BIPOC and local developers.A Continue to provide home repair grants to income-eligible and aging-in-place households.A Expand partnerships and investments in Home Trust, WCHA, EMPOWERment and other organizations, and work with property managers/owners to include purchase rehab of rental units to reach lower income levels and as a transition to homeownership or as permanent affordable rental housing.A Work with existing rental property owners to determine ways to add additional affordable housing units and what regulatory (e.g. additional allowable density) and/or financial assistance may be needed.B Work with owners of affordable housing developments nearing expiration of affordability restrictions to refinance the property and extend affordability requirements.C Work with other Orange County governments to cost share on staffing for Home Preservation Coalition.A Investigate changes to the Land Use Ordinance to establish minimum and maximum density levels in areas with water and sewer service.B Expand housing repair programs for income-eligible households up to 100% AMI to reduce displacement of current households.A Identify funding to expand weatherization efforts already happening through the Orange County Home Preservation Coalition. Work with other Orange County governments to fund staffing for that program and augment WAP funds so that the Community Action Agency can increase their annual quota for Orange County's and Carrboro's low-income household weatherization work.A Work with the Continuum of Care partners to address the emergency shelter and transitional housing needs of homeless individuals and families. Identify opportunities among local organizations and housing resources to provide related services to homeless households for both emergency and long-term assistance.A Help those experiencing homelessness (especially people and families experiencing chronic homelessness; families with children; veterans and their families; and unaccompanied youth) make the transition to permanent housing and independent living, including shortening the period of time that individuals and families experience homelessness, facilitating access to affordable housing units, and preventing individuals and families who were recently homeless from becoming homeless again.A Assist the County in identifying housing units and removing barriers to low-income individuals and families to avoid becoming homeless, especially extremely low-income individuals and families and those who are: being discharged from publicly funded institutions and systems of care (such as health care facilities, mental health facilities, foster care and other youth facilities, and corrections programs and institutions); or, receiving assistance from public or private agencies that address hoA Provide annual reports on the impact of the Affordable Housing Fund. Continue to provide annual reports on Affordable Housing Fund investments, including recipients, number of households supported, income level and demographics of households, etc.B Monitor the property tax rate to support the Affordable Housing Fund. Review the affordable housing fund property taxes raised on an annual basis and the impact of the funds.C Develop a campaign to solicit private investments in the Affordable Housing Fund. Create a tax-deductible entity such as a 501 (c)(3) organization or Housing Trust Fund to raise additional private contributions from residents, businesses and foundations targeted to affordable housing.A Educate the community on the importance of the need and impact of quality, affordable housing.B Determine the programs and projects that could be supported through an Affordable Housing Bond. Conduct community outreach regarding the needs and possible projects. Ensure that a housing bond is designed to benefit and not place additional burden on low and moderate income householdsC Based on public support, place the Affordable Housing Bond referendum on the ballot.A Pursue grant programs that meet the Town’s priorities. Continue to pursue state, federal, foundation and corporate housing funds consistent with the Town’s goals.B Advocate for greater affordable housing resources at the state and federal level. Work with North Carolina League of Municipalities to advocate for additional affordable housing resources from down payment assistance to upgrading public housing to new construction and rehabilitation programs.A Determine whether agreements can be made with providers or if municipal provided broadband can be provided to residences.A Pursue action steps itemized in Strategy 4.5.A Determine funding sources to expand photovoltaic installations (such as solar panels).
Not Defined
C Seek funding sources to meet the gap in financing additional affordable housing units.
Affordable Housing

Goals

Not Defined
1.1: Increase development of for-sale affordable housing units for households earning up to 80% of AMI.
Affordable Housing

Owner

Update

Next Steps

Phase

Start Date

1/1/25

End Date

1/31/25

Gantt Chart

Name
Affordable Housing
C Seek funding sources to meet the gap in financing additional affordable housing units.
2025
Jan