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How local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

Affordable housing developers, particularly those using the Low-Income Housing Tax Credit (LIHTC) to build new low-income rental housing, are also feeling the effects of this challenging development environment. 1] The data shows that rising costs are taking a toll on new affordable housing projects.

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2024 Update: Local governments are closing the financial gap for affordable housing developments

Community and Economic Development Program of UNC

Earlier this month, DFI examined how local governments in North Carolina have stepped in to make new affordable housing construction economically viable after a historic increase in construction costs and elevated interest rates. However, funding for WHLP lapsed from 2021 to 2023, just as construction costs surged.

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Lessons from the White House Summit on Building Climate Resilient Communities

NLC (National League of Cities)

In September 2023, the White House hosted the first-ever Summit on Building Climate Resilient Communities. The National League of Cities joined representatives from local governments and resilience leaders across the country to start a dialogue and knit together the work and leadership taking place […] Source

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2023 Media Highlights

NLC (National League of Cities)

As the voice of America’s cities, towns and villages, NLC was a popular resource on issues impacting local governments. Journalists turned to NLC for comments and expert clarification on a variety of issues ranging from public safety, housing, local authority, health […] Source

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These pandemic-era relief programs expired in 2023

GCN

As the federal government rolled up its pandemic-era social safety net, state and local governments stepped in to fill the gaps in housing, child care and food assistance.

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State of Land Banking: 2023 Survey Highlights 

Center for Community Progress

The 2023 State of Land Banking survey received complete responses from approximately 30 percent of those land banks (92 completed, 20 partial). 81 percent of land banks consider supporting the creation of affordable housing a top priority. Increasingly, land banks have been called on to respond to growing housing affordability needs.

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How changes to Fair Market Rent affects access to affordable housing for extremely low-income renters

Community and Economic Development Program of UNC

Housing Choice Vouchers are a critical source of funding for North Carolina’s lowest income renters to access affordable housing. As of 2023, about 72,000 North Carolina renters use vouchers to subsidize the cost of rent and utilities. For instance, the 2024 FMR was calculated using ACS data from 2017 to 2021.

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