Housing GSO: HRA Greensboro Affordable Housing Plan

AFFORDABLE RENTAL HOMES

COMMIT LOCAL PUBLIC FUNDING | Case Studies

sector and philanthropic partners should be leveraged to maximize the impact of public funding.

Many cities in North Carolina have established dedicated local streams of funding in recent years to address affordable housing need. With declining federal support, and increasing need, cities across the country are grappling with how to meet affordability challenges with limited public resources. By establishing an ongoing

funding stream, the City will ensure it has resources and capacity needed to meaningfully implement the recommended housing tools. As these examples from other North Carolina cities illustrate, dedicated public funding can attract additional commitments. Investment from the private

Local Commitment to Affordable Housing Over Next 5 Years:

City of Asheville Housing Bond passed in 2016 $25M

City of Charlotte Housing Bond passed in 2018 $50M

$100M

$95M

City of Raleigh and Wake County Penny for Housing property tax allocation ($6M, City) and

City of Durham Housing Bond passed in 2019

dedicated general fund revenue ($15M, County)

HR&A Advisors, Inc.

Page 80