Affordable Housing: Council Approves Framework For Potential $50 Million Dollar Bond

Charlotte, NC — Charlotte City Council has approved an affordable housing crisis response plan.

The framework established how the city would make decisions if voters approve the $50 million bond on the November ballot.

The goal is to set a framework to make decisions so the city is ready to go if voters approve that.

To read previous report, click here.

In part, it focuses on families making 60 percent or below the area median income. Plus, it uses housing to expand access to opportunities. To read the framework in full, click here and scroll to item #14. 

Also Monday, the private sector agreed to match the bond 20 percent, giving $10 million to help build if voters approve.

“This is unprecedented in our city, and I would say across our nation,” said Mayor Vi Lyles. “Charlotte can be the model for how to address a housing crisis.”

Council member Dimple Ajmera says the city needs to simplify the process to find and sign up for affordable units.

” I wish there was a more streamline process to have one central source where we can direct folks to: here’s a list of our housing units, where where you can apply,” said Ajmera.