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CITY OF RALEIGH

ADOPTED CIP FY2017-FY2021

Work Plan Highlights

Implementing the objectives of the affordable housing plan including increasing the supply of

affordable rental units and preserving existing affordable units.

Rental development projects include DHISC’s Villages at Washington Terrace, CASA’s

Sunnybrook Village Apartments, and Taft Development Group’s Wakefield Commons Apartments

totaling 284 units.

Optimize production by utilizing proposed one cent permanent funding source for rental

development and homeowner rehabilitation loans, and continuing to utilize federal funds for

homeowner repair loans, homebuyer loans, neighborhood revitalization, and infill

homeownership.

Operating Impacts

At this time, staff do not anticipate that any city-funded affordable housing programs will require

ongoing operational support.

Highlighted Projects

Homeowner Rehabilitation: 3,500,000

This program provides financing to low- to moderate-

income homeowners earning at or below 80% area

median income whose homes are in need of limited

repairs or substantial rehabilitation. The homeowner

rehabilitation program allows low income homeowners

the ability to remain in their homes when they are unable

to make necessary repairs. This activity continues the

housing availability goal by mitigating the aging

conditions of existing neighborhoods.

Rental Development: 28,000,000

The rental development program will continue the

City's investment in affordable rental housing for low

income renters by leveraging funds with private and

other public lending institutions. Financing is available

to both non-profit and for-profit developers for the

construction of new rental units or preservation of

existing rental units. Staff expects to increase annual

production of rental units by 100-150 units per year

over the current levels of 200 units per year.

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