Housing GSO: HRA Greensboro Affordable Housing Plan

IMPLEMENTATION

ESTABLISH WORKING GROUPS WITH PRIVATE AND PHILANTHROPIC PARTNERS

Each working group should be responsible for designing and launching the housing tool that its members have committed resources to support. For example, potential funders and developers should be engaged regarding establishment of a housing preservation fund and creating a pool to subsidize 4% LIHTC developments. The philanthropic community should be engaged with regards to funding neighborhood reinvestment planning efforts, providing enhanced services with mortgages, and providing short-term rental assistance, as in some cases, they are funding these activities already. Participation in these working groups should be limited to partners who are committing resources, which can include both financial and staff resources. This will ensure that the groups are comprised of stakeholders willing to make real contributions and make true commitments to advancing implementation. The City should establish working groups with private and philanthropic partners to jointly implement housing tools. Public-Private-Partnership Working Groups will drive implementation of recommendations that require resources from the public and private sectors.

Key Partners • City of Greensboro - NDD • Philanthropic partners • Private developers • Non-profit partners • Community organizations

Action Steps

1. Establish working groups

2. Meet regularly to drive implementation

The following tools will require Public Private Partnership Working Groups to drive implementation: • Establish a Housing Preservation Fund (Affordable Rental Homes) • Target Deeper Affordability and Subsidize 4% LIHTC Development (Affordable Rental Homes)

• Partner with Neighborhoods (Neighborhood Reinvestment) • Provide Short-Term Rental Assistance (Supportive Housing) • Design a Community Education and Awareness Campaign (Implementation)

HR&A Advisors, Inc.

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