How does the $160 million spur $443 million in private funding for additional affordable housing support in the City of Durham?

The Forever Home, Durham investment significantly preserves and increases the quality and quantity of the City’s affordable housing stock and focuses on providing housing to low-income Durham residents. City funding for affordable housing bridges the gap between the cost of development and the funding that can be raised through private debt and equity financing. This City gap financing is critical to making affordable housing construction and preservation projects feasible. The City’s $160 million investment is expected to spur $443 million in private funding, creating a total $603 million investment in Durham’s future. Notably, the program includes $130 million in contracting opportunities for minority and women-owned firms. Businesses and investments that are expected to arise alongside of, and because of, the $603 million total investment will support jobs, providing opportunities for residents to earn income and live in decent, affordable housing for many years to come.

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1. What is the goal of Forever Home, Durham?
2. Will Forever Home, Durham, solve the affordable housing crisis in Durham?
3. Does this program focus on other areas in addition to the development of affordable housing?
4. How will the City achieve the goals of Forever Home, Durham?
5. How does the $160 million spur $443 million in private funding for additional affordable housing support in the City of Durham?
6. What progress has the program made so far?
7. What is the role of the Durham Housing Authority (DHA) in providing housing in Durham?
8. How does the City work with DHA to create and maintain affordable housing options in Durham?
9. What is the DHA Downtown Neighborhood Plan and what is its role in affordable housing?
10. What will happen to the residents living at DHA properties that are slated for redevelopment?
11. How did the City decide which activities are included in the Forever Home, Durham Program?
12. How does the City decide which activities to work on when?
13. What else is the City doing beyond the programs funded by Forever Home, Durham?
14. How will the City track the money being spent as part of this program?
15. Was this program impacted by COVID-19?
16. How does the City track activities that count toward Forever Home, Durham goals and progress?
17. How will the funds for Forever Home, Durham be collected and authorized?
18. How does Forever Home, Durham support jobs?