Develop intentional strategies, programs, and projects that more effectively facilitate residents' access to the local and regional economy.
Positioned in the Strategic Plan Goal 3: Connected, Engaged, & Diverse Communities - Forever Home, Durham represents a $160 million investment in affordable housing and services for low income Durham residents. Funding sources include:
$95 million affordable housing bond approved by voters in November 2019
$65 million in existing and anticipated revenue from City and federal sources (the latter from the U.S. Department of Housing and Urban Development, or HUD)
What Does Success Look Like?
1,600 New affordable rental homes
Preserve 800 affordable rental homes
Move1,700 unhoused individuals and families into permanent housing
Provide 400 affordable homeownership opportunities for low-income homebuyers
Help 3,000 low-income renters and homeowners remain in or improve their homes
Create $130 million in contracting opportunities for minority and women-owned business enterprises