TAKING ACTION
Town of Wake Forest | HOUSING AFFORDABILITY PLAN
Strategy 1: Expand and Preserve Homeownership
Owner-Occupied Rehab (OOR)
Program Overview Wake Forest currently has an OOR pilot program designed to target households in the Northeast Community earning 80% or less of the Raleigh MSA's AMI. Rebuilding Together of the Triangle and the Northeast Community Coalition, two local non-profits, run the program on behalf of the Town. Qualifying participants can earn grants of up to $15,000 per household to fund critical home repairs. Wake Forest should complete the current pilot program and evaluate any rules and regulations that need to be updated to increase impact, including the program’s total funding allocation. Increasing the program’s budget could allow the Town to include other expenses, like energy retrofits, as eligible costs. The Town can also use its non-profit partners to coordinate closely with Wake County to ensure that residents are connected to the right programs and that the Town’s program is additive to and not duplicative of Wake County’s program (Table 2).
TABLE 2: OOR PROGRAMS AVAILABLE TO WAKE FOREST RESIDENTS
Program
Description
Populations Served
Wake County Elderly and Disabled Homeowner Grants Wake County Emergency Grant Program
Modest home repairs to assist with mobility or retrofits.
Elderly and disabled homeowners making up to 50% of AMI Homeowners earning up to 40% of AMI
Home repairs including heating, well/septic, roof, and electrical hazards. $50,000 respectively dedicated for Year 1 and 2 of program, with up to $15,000 per household. Rebuilding Together of the Triangle has been selected to run the program.
Wake Forest Housing Rehabilitation Program
Northeast Community households making up to 80% of AMI
IMPLEMENTATION
1. Periodically evaluate annual allocation of OOR program funds. 2. Engage non-profit partners to coordinate with Wake County’s program managers. 3. Coordinate with partner organization to ensure that Wake Forest residents know about and can apply for Wake County funding. 4. Reevaluate the program on an ongoing basis to set terms that are complementary to Wake County’s program.
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