Housing GSO: HRA Greensboro Affordable Housing Plan

IMPLEMENTATION RECOMMENDATIONS

IMPLEMENTATION

The City will need to establish priorities in implementation. Recommended implementation and timing considers existing municipal and non-profit capacity, legal implications and authority, and the funding sources available in the short-term. The City should begin progress on all recommendations within the next 12 months, finishing within the first five years of the 10-year Housing GSO timeframe. The City should spend the remaining time evaluating program effectiveness and making necessary changes to establish maximum impact. Recommendations should be implemented with input from stakeholder working groups and intergovernmental taskforces. The City should establish Public-Private-Partnership Working Groups to drive implementation of the recommendations that require commitment of resources from the public and private sectors. Simultaneously, NDD will need to establish a series of intergovernmental administrative teams to promote cross-department and agency collaboration.

Affordable Rental Homes

Timeline

Metrics

First Action Step

• Number of residents receiving support services as part of the relocation process • Infrastructure improvements funded • Amount of funding leveraged • Additional property tax revenue generated • Number of public sites disposed to affordable housing developers • Number of affordable homes produced • Amount of funding leveraged • Number of rental homes created affordable for HHs earning less than <$30K • Number of rental homes produced in high opportunity areas

Partner on Housing Authority Redevelopment

Meet with GHA to establish MOU on redevelopment and resident-focused goals

Year 2

Create an inventory of publicly-owned land that could accommodate future affordable housing development

Create a Public Land Disposition Policy

Year 2

Administrative Taskforce

Deeper Affordability

Year 1

Modify RFP requirements

Establish a Housing Preservation Fund

• Amount of private funding leveraged • Number of affordable rental homes preserved

Assess potential fund structures to determine feasibility and best model for Greensboro

Year 2-3

• Amount of funding leveraged • Number of rental homes produced for <60% AMI • Number of rental homes produced in high opportunity areas

Dedicate new local public funding to subsidize 4% development

Subsidize 4% Development

Year 3

P3 Working Group

HR&A Advisors, Inc.

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