Housing GSO is designed to guide the City of Greensboro’s public investments in affordable housing over the next ten years. In 2016, the City dedicated $25 million in voter-approved local housing bond funds for affordable housing and neighborhood reinvestment programs, an important step toward addressing Greensboro’s housing challenges. Housing GSO describes how to refocus the remaining bond funds, along with existing federal and new local funding to most effectively address existing housing challenges. Greensboro’s housing challenges will require a significant commitment of public funding. The City can only achieve its housing goals through strong partnerships and private contributions to support public resources. With limited financial resources, the City must deploy its funds strategically and partner with other stakeholders to achieve maximum impact . The City should work closely with the nonprofit community and the private sector to leverage their capacity to execute housing programs, while also collaborating with the philanthropic sector to marshal resources to match public funding and catalyze change. There should be ongoing coordination between the City, neighborhood associations, and other community groups to guide the investment of public funds and sustain public support for the ambitious goals set forth in Housing GSO. Successful implementation of Housing GSO will require building public awareness of Housing GSO and its ambitious goals, complemented by education and outreach campaigns throughout the city. These education efforts will build community understanding of the existing affordable housing need in Greensboro and the importance of sufficient affordable housing to sustain a vibrant and inclusive city.
Housing GSO is organized around four goals that reflect community priorities and address the major challenges in Greensboro’s housing market:
Affordable Rental Homes
Access to Homeownership
Increase the supply of quality rental homes available to low-income renters unserved by the market.
Target City housing resources to address blight, attract private investment, and establish self- sustaining markets in areas that have suffered from disinvestment.
Expand opportunities for sustainable low- and moderate- income homeownership through down payment assistance and housing counseling services.
Provide housing and short-term rental assistance to meet the needs of homeless and other vulnerable populations, including access to adequate service provision.