Final Adopted Budget FY23-24

The 2016 and 2022 Housing Bonds, as well as future bond dollars, will be used to continue the implementation of the Housing GSO plan. Implementation of the plan will help reach the Council strategic priority to provide attainable housing for all residents, especially those earning between 0% and 80% of average median income. The FY 2022-23 Budget included an increase in the dedicated portion of the tax rate for the Nussbaum Housing Fund from 0.69 cents to 1 cent. That provided an additional $1.1 million in support of housing programming outlined in the Housing GSO plan. The FY 2023-24 budget maintains this dedicated portion of the tax rate and provides $3.6 million for housing programs. Additionally, $8.9 million in ARP enabled funds have been dedicated by Council to support housing programs within the community including affordable housing development, down payment assistance, and to support private and non-profit organizations who are active in addressing community housing challenges.

Housing

ARP-Enabled Funds

Units

Affordable Housing Management, Inc.

Southwoods Rehab

$ 2,079,823

59

Community Housing Solutions of Guilford, Inc.

Home Repairs and Accessibility Modifications for Older Adults in Greensboro

$

800,000

100

Greensboro Urban Ministry

Greensboro Urban Ministry Building Uplift Project

$

200,000

100

Habitat for Humanity of Greater Greensboro, Inc.

Building Community Together

$ 1,000,000

32

The Servant Center City of Greensboro

Servant House Transformation

$

450,000

11

Affordable Housing Allocation - Micro-units/creative housing solutions Affordable Housing Allocation - #100Homes campaign

$ 1,000,000

50

City of Greensboro

$ 1,000,000

100

Services

Glenwood Together / InFaith Glenwood Together (Fiscal Sponsor - InFaith)

$

25,000

Greensboro Housing Coalition

Housing Programs

$

500,000

Interactive Resource Center Integrated Care Program Expansion/Bridge Housing-Regency Inn

$

100,000

City of Greensboro

1417 Glenwood Facility Upfit

$ 1,000,000

City Programs City of Greensboro City of Greensboro

Tornado Reinvestment

$ $

250,000 500,000 8,904,823

Small/Minority Contractor Support Program

$

492

Further, the City launched the Public Service Heroes down payment initiative to support public agency employees and veterans in need of homebuyer acquisition support. The FY 2023-24 budget also includes $250,000 to support low income home owners impacted by increases in the property values reevaluated by Guilford County for FY 2022-23.

Adopted 2023-24 Budget

12