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Housing Call: June 14, 2022

Federal updates

  • There are no new updates this week on negotiations for a slimmed-down reconciliation package. Lawmakers are still aiming to reach an agreement on a framework by July 4 and move the package through the House and Senate before Congress adjourns for August recess on August 8. Thanks to those who participated in NLIHC’s day of action last week by calling for the inclusion of targeted housing investments.
  • Three federal agencies are jointly proposing a substantial update to the Community Reinvestment Act (CRA) to strengthen and modernize regulations. The Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation want the rule to better address racial discrimination, which is what the CRA was initially intended to do. However, fair housing advocates say the language in the new rule isn’t explicit enough in prioritizing racial and ethnic groups, which is a missed opportunity for advancing equity.

State updates

  • Leaders in the NC General Assembly have said they hope to finish up the short session by July 1, which means getting a budget bill done by then. Lawmakers already reached an agreement on a topline budget amount of roughly $30 billion. Priorities for the budget include raises for state employees and teachers. There is also bipartisan support for reducing taxes, although it’s unclear what form that will take. Senate leadership and Governor Cooper would like to see Medicaid expansion included in the budget bill, but leaders in the House have said they don’t want to vote on Medicaid expansion this session. The Coalition has been meeting with lawmakers to advocate for increased funding levels for housing in the budget. As a reminder, the primary purpose of this year’s short session is for lawmakers to approve changes to the second year of the already-enacted two-year budget.
  • Buncombe County leaders approved two bond referendums to appear on the November ballot for local voters. The measures include a proposed $30 million for land conservation efforts and $40 million for investments in affordable housing. Everyone needs housing:’ Buncombe County leaders approve bond referendums | ABC 13 News
  • Mecklenburg County, Charlotte Mecklenburg Housing and Homelessness Strategy Initiative have announced the launch of a community-driven action plan to make affordable housing more accessible and sustainable to Mecklenburg County residents:  Building a strategy for affordable housing in Mecklenburg County | The Charlotte Post
  • Last week, Greensboro Housing Coalition held a virtual forum with candidates for local office to raise the issue of affordable housing leading up to the election: Greensboro Housing Coalition holds forum on affordable housing | WFMY News 2
  • In Charlotte, ​​Little Rock AME Zion Church is partnering with developers, community groups, and the city to build a five-story affordable apartment building on the church’s land. The City of Charlotte also contributed land, making the parcel large enough to accommodate 105 housing units. Half will be affordable with rental options for households earning 30, 60, and 80% of the area median income: Churches help build affordable housing in Charlotte communities | Queen City News
  • Charlotte is in the process of updating its Unified Development Ordinance and will hold a public hearing on its second draft on July 11. The UDO final draft release is set for mid-August: Unified Development Ordinance updated for Charlotte’s future after feedback | WBTV
  • Meta, the parent company of Facebook and Instagram, announced plans to open offices in Durham, which could impact home prices over the next 5-10 years: Meta coming to Durham: Real estate prices could double again in 5-10 years | WRAL Tech Wire
  • Residents of Cimeron Apartments in Belmont, Charlotte received 30-days notice to move due to a “new direction” the owner is choosing for renovation efforts with this property. This is after a rent hike was announced in April, increasing monthly payments from $600 to $1,275 a month: Belmont tenants asked to vacate building | WCNC Charlotte
  • In Durham, construction is set to begin in the coming months on two new affordable housing complexes at 300 and 500 E. Main in the heart of downtown. Two county-owned parking lots will be converted into affordable housing complexes with a total of 300+ units. The apartments will be income-restricted to those making 30-80 percent of the area median income (AMI): 300+ affordable housing units coming to downtown Durham in 2024 | CBS 17


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Housing Call: June 7, 2022

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