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Last month, the Raleigh City Council approved $22.8 million to build 454 new units close to bus stops, grocery stores and doctors. The city also has set a goal to build 5,700 affordable homes by 2026.
The missing middle reforms that created 200 affordable homes will continue to gain momentum as long as City Council retains this powerful tool for providing diverse housing choices across the City.
As home and rent prices in the Triangle continued to climb over the last several years, the City of Raleigh has been seeking out new avenues to accommodate the growing affordable housing need.
A housing affordability index (HAI) is an index that measures housing affordability, usually the degree to which the median person or family in a particular country or region can afford housing/housing-related costs. [1] [2] [3] Housing affordability is one contribution to the cost of living in an area; measured by the cost-of-living index. [3]
The Rental Assistance Demonstration is a federal housing program that was enacted as part of the Consolidated and Further Continuing Appropriations Act, 2012, [1] and is administered by the U.S. Department of Housing & Urban Development (HUD). Broadly, the purpose of the Rental Assistance Demonstration (or RAD) is to provide a set of tools to ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
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