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On January 21, 2020, the City Council directed housing staff to evaluate two affordable housing bond options to be placed on a future ballot.
Subsequently, a 24-person Affordable Housing Bond Advisory Committee was formed in February 2020. The committee has been tasked to review bond options, seek public input and provide a recommendation to City Council on a preferred bond package to be placed on the November 2020 ballot. The work from the committee is expected to be completed by mid-May.
Bond Priorities
- Provide generally equal geographic distribution with project investments
- Provide a range of housing types and income levels in coordination with Wake County
- Include new units and rehabilitated units where financially viable
- Seek innovative development partnerships
- Seek projects and acquisition opportunities near planned transit routes like Bus Rapid Transit (BRT)
Options
Housing staff presented the council with two housing bond options in January 2020. Potential bond elements include:
• Transit-oriented acquisition to support affordable housing
• Public-private partnerships
• Low-income housing tax credit gap financing
• Homeowner rehabilitation
• Down payment assistance
View two potential bond options - January 2020
Potential bond options - June 2020
Public Input Opportunities
The Affordable Housing Bond Advisory Committee is seeking input from the public on Affordable Housing Bond options. The City of Raleigh anticipates including an Affordable Housing Bond on the November 2020 ballot. Commitment to producing affordable housing continues to be a priority to the City.
During this time public meetings are prohibited in order to prevent the spread of COVID-19. This is why the Affordable Housing Bond Advisory Committee has decided to pursue online engagement.
- To take the survey in English, go to publicinput.com/housing-bond-2020, or to complete survey by phone, call 919-996-2494.
- To take the survey in Spanish, go to publicinput.com/T841, or to complete survey by phone, please call 919-996-5714.
- If you would like to stay informed please sign up for MyRaleigh Subscriptions and be sure to choose Community Development News as a subscription.
Past Committee and Public Meetings
Affordable Housing Bond Advisory Committee past meetings:
- February 28, 2020
- March 6, 2020
- March 13, 2020
- March 20, 2020
- March 27, 2020
- April 3, 2020
- April 9, 2020
- April 17, 2020
- April 24, 2020
- May 1, 2020
- May 6, 2020
- May 8, 2020
The Affordable Housing Bond Advisory Committee met via conference call during the month of April and invited the public to participate. Meetings were held on May 13 and May 15, 2020.