HOUSING AFFORDABILITY PLAN | Town of Wake Forest
TABLE OF CONTENTS
4
57
Introduction
Appendices
5 6
Plan Overview
58 59
Appendix 1: Terms Defined
Defining Affordability
Appendix 2: 2021 Area ................ . Median Income Limits for ................ . Raleigh MSA 60 Appendix 3: 2021 Maximum ............................. . Affordable Monthly Housing ............................. . Costs for Raleigh MSA 61 Appendix 4: Town of Wake ............................. . Forest Nondiscrimination ............................. . Notice 62 Appendix 5: Town of Wake ............................. . Forest Nondiscrimination ............................. . Policy
7
Existing Conditions: Population
8 9
Regional Demographics Local Demographics
16
Existing Conditions: Housing
17
Housing Conditions
24 27
Housing Needs
Barriers to Housing Affordability
28
Community Engagement
29 30
Planning Context Plan Outreach
34
Taking Action
35 38
Influences
Overarching Strategies
39
Strategy 1: Preserve and Expand Access to Homeownership
39 40 42 43 44 41
Tools Overview
Down Payment Assistance (DPA) Community Land Trust (CLT) Owner-Occupied Rehab (OOR)
Incentive Zoning
Accessory Dwelling Unit (ADU) Demonstration Program
45
Strategy 2: Create New Affordable Rental Housing
45 46 49 50
Tools Overview
Public Land Disposition
Public Housing Redevelopment
Low-Income Housing Tax Credit (LIHTC) Gap Funding
51
Strategy 3: Build Capacity and Partnerships
51 52 53 54 55
Tools Overview
Coordination with Wake County
Capacity Building
Monitoring
Community Engagement
56
Implementation Steps
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