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The City of Raleigh has used general obligation bonds four times in the past to address needs associated with the affordability of housing. The priorities of the City’s housing programs are to increase the supply of affordable housing, enhance the homeless to housing continuum, and support neighborhood revitalization. These priorities are achieved by focusing on the following groups: low- and-moderate income renters, low-and-moderate homeowners and homebuyers, people experiencing homelessness, and neighborhoods.
The City’s first housing bond referendum of $20 million passed in 1990. A second housing bond referendum for $14 million was approved in 2000. A third housing bond referendum for $20 million was approved in 2005. And most recently, Raleigh voters approved a fourth bond referendum for $16 million in 2011.
Past bond proceeds funded activities such as homebuyer assistance for first-time homebuyers, housing rehabilitation for homeowners, creation or preservation of rental housing, and neighborhood revitalization