TAKING ACTION
Town of Wake Forest | HOUSING AFFORDABILITY PLAN
Implementation Steps
There are primary, short-term steps that Wake Forest can take to start meeting housing needs.
Short-Term Steps
Dedicate Staff Time. New or existing staff should be responsible for outreach and coordination with Wake County, partner organizations and the housing authority, as well as annual reporting and community outreach.
Create a Funding Allocation Plan. Determine how existing funds from the half-cent tax will be allocated across different programs and if more funding is needed to increase program impacts.
Establish Annual Reporting. As the Town begins to allocate funding and dispose of land, gather and track information on households served, units produced, income levels targeted, and money spent to publish annually through a report or digital dashboard.
Commit to a Partnership with the Wake County Housing Authority. Begin coordinating with the Housing Authority on redevelopment plans for public housing sites, and establish a formal statement of understanding to demonstrate how the Town will assist with these efforts.
Continue Housing Rehabilitation Pilot Program. Continue to annually fund the Town’s existing housing rehabilitation program and periodically assess if adjustments need to be made in terms of increased funding, outreach, or geographic scope.
Establish Public Land Disposition Program. Working with a consultant, analyze existing stock of Town-owned properties for redevelopment potential including an affordable housing program. Establish a land disposition program and include dedicated annual funding for the procurement of properties suitable for small-scale affordable housing development.
Establish an Incentive Zoning Program. Test and establish incentives for new market-rate developments to include affordable housing units that target income levels below the area median income. Periodically reevaluate based on outcomes.
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