Tuesday, October 4, 2016
What’s Driving the Affordable Housing Deficit in Greensboro?
In November, voters will have the opportunity to impact the quality and quantity of housing in Greensboro by voting on a $25 million housing bond. According to the City of Greensboro, the funds from this bond will be used to leverage more than $54 million in additional funding from private mortgages, federal and state development funds, Low Income Housing Tax Credits, local or private development funding, foundations grants, donations and in-kind services, as well as cost savings to non-profits. This bond and the leveraged funds will provide much needed funds to expand and improve existing programs and create new ones. Among the initiatives that will receive funding are: more workforce housing; a repair program to rehab housing that does not meet safety and building codes; new affordable housing developments; programs to assist handicapped accessibility and housing for special populations; supportive housing units for homeless, disabled, and Veterans, homebuyer lending programs, emergency repair programs for low-income homeowners; assistance to multi-family home repair; and rehabilitation programs for homeowner.