Housing Call: August 20, 2024

Organizational Updates

Conference Registration Ends Next Week!

Registration for the 2024 NC Affordable Housing Conference closes on Wednesday, August 28 at 5 pm. As a reminder, due to capacity, the conference will not accept onsite registrations this year, so be sure to register before registration closes next week. We look forward to seeing you on September 5–6 at the Raleigh Convention Center!

Federal Updates

Vice President Kamala Harris unveiled her housing plan during a campaign stop in Raleigh on Friday. The plan largely focuses on increasing the supply of affordable units and lowering housing costs. The plan calls for:
The construction of 3 million new units over the next four years through:
- Tax incentives to homebuilders for houses geared towards first-time buyers and for affordable rental housing;
- $40B fund to to help local governments finance housing construction (up from $20B proposed under Biden’s plan); and
- Expansion of the Low Income Housing Tax Credit (LIHTC)
Up to $25K for first time homeowners towards downpayments, including more generous assistance for first-generation homeowners.(Biden previously announced a $10K tax credit for first time homebuyers).
Support for legislation that would restrict tax breaks for large corporate landlords and ban landlords from buying algorithmic data that inflates rents.
Last week, the White House provided an update on progress they’ve made in implementing their Housing Supply Action Plan. There were a lot of announcements in the document and we encourage you to check it out if you haven’t. A couple of big things were announced:
- $100M for HUD’s Pathways to Removing Obstacles to Housing (PRO) program which provides grants to communities to identify and remove barriers to affordable housing production and preservation.
- An interest rate collar for the Federal Financing Bank (FFB) Multifamily Risk Sharing Program, which will help to provide greater interest rate predictability for state and local housing finance agencies that finance housing projects through the program.

Also last week, HUD awarded nearly $40M in funding to expand the Section 811 Rental Assistance for Persons with Disabilities Program. The NC Housing Finance Agency was one of 18 state housing agencies awarded funds to expand rent assistance and supportive services for low-income people with disabilities. They will receive close to $8M, which will expand assistance for an additional 225 units.

The US Dept. of Agriculture (USDA) recently announced economic development grants through their Rural Partners Network, which seeks to make sure historically underserved communities receive their fair share of federal resources. Seven loans will help ensure families and seniors in Eastern NC continue to have access to affordable housing by financing the transfer, assumption, and rehabilitation of 176 Section 515 Rural Rental Housing units in Bladen, Columbus, Halifax, and Robeson counties.

State & Local Updates

NC sets sights on improving support for people leaving prison by 2030 | NC Health News

The statewide Joint Reentry Council released their approved strategic plan last week. One of their goals is to expand housing opportunities for formerly incarcerated individuals. Check out the strategies they’ve outlined to achieve this goal in their report, linked in the call notes.

Asheville-Buncombe homelessness body recommends new Ramada proposal with caveats | Blue Ridge Public Radio

Last week, the Asheville-Buncombe Continuum of Care (CoC) narrowly endorsed a new permanent supportive housing proposal for the former Ramada Inn site in East Asheville. The proposal was submitted by Friendship for Affordable Housing, an organization that includes many of the same employees who were formerly at developer Shangri-La – the previous developer of the Ramada Inn site who lost the property to foreclosure last winter. The proposal is expected to go before the City Council’s Housing and Community Development subcommittee this week and before the entire Council later this month.

Charlotte refines affordable housing bond plans | WFAE 90.7

The City of Charlotte recently released a draft funding plan for the $100M affordable housing bond that will be on the ballot in November. The allocation plan calls for:

$35M: rental housing production
$25M: homeownership
$14M: rental housing preservation and anti-displacement
$9M: supportive housing and shelter capacity
$5M: housing rehab and emergency repair
$5M: innovation pilot fund
$5M: site acquisition – current and planned transit areas
$2M: administration and evaluation
What is a housing co-op and could Winston-Salem get one this year? | Triad City Beat

Last week Winston-Salem city council members on the Community Development, Housing & General Government Committee recommended that the city move forward with forgiving a loan that will pave the way for Spring St Co-op to purchase a 5-units for households earning between 30-50 percent of the Area Median Income. Residents in the housing co-op would be able to earn limited equity, which would allow them to generate wealth while they live there. The final vote that will determine the project’s ability to move forward is expected from the City Council on September 3.

Durham Housing Authority Breaks Ground on New Affordable Housing Project | INDY Week & Public-private partnerships pave the way for new mixed-income housing in Durham | NC Newsline

Acting HUD Secretary Adrianne Todman and US Congresswoman Valerie Foushee were in Durham last week for the groundbreaking of Commerce Street Apartments – a 172-unit mixed income apartment community. The public-private partnership project between the Durham Housing Authority (DHA) and development partner Laurel Street Residential is financed in part by HUD”s $40M Choice Neighborhoods Initiative Grant awarded to the City of Durham and DHA in 2022. The grant calls for 555 mixed income units to replace more than 200 former public housing units over the next few years.

East Raleigh community takes steps to end homelessness with King’s Ridge affordable housing| WRAL

A 100-unit Permanent Supportive Housing development for individuals and families exiting homelessness is nearing completion in East Raleigh. In addition to providing affordable housing, CASA’s Kings’ Ridge community will provide residents with accessible, wraparound support services, including case management, counseling and substance abuse treatment, and two on-site medical clinics. This is CASA’s largest project to-date.

County agrees to sell campus to developers for affordable housing | rockymounttelegram.com

The Edgecombe County Board of Commissioners voted unanimously to sell the former county Health Department and Social Services campus in Tarboro to a Raleigh property developer who offered to purchase the site to develop affordable housing.

Events

[webinar] How Land Banks in Small Communities Can Grow Trust and Impact | Center for Community Progress, August 22, 12-1 p.m.
[webinar] Unlocking Housing Opportunity for America’s Workforce Series | Federal Reserve Banks of St. Louis & Chicago
- August 22, 2-3:15 p.m.Partnerships That Advance Workforce Housing
- August 29, 2-3:15 p.m. Housing Preservation: Why It Matters

2024 NC Affordable Housing Conference | September 5-6 at the Raleigh Convention Center.
Second Annual NCWAHN Luncheon | September 6, 1 – 2:30 p.m. at Jiddi Space in downtown Raleigh. Cost: $25
- The luncheon will follow the close of the NC Affordable Housing Conference and provide an excellent opportunity to connect women working in affordable housing from across the state.Wake County Board of Commissioners Chair Shinica Thomas will be this year’s keynote speaker.