Number of households (owner and renter) that are cost burden.
A household is considered to be cost-burdened when it spends more than 30% of its income on rent and utilities and is severely cost-burdened when it spends more than 50% on rent and utilities. The data for this indicator comes from the U.S. Department of Housing and Urban Development - Consolidated Planning and Comprehensive Housing Affordability Strategy data.
Story Behind the Curve
The list of non-profit and community based organizations below are actively engaged in the development and implementation of the Housing - Community Health Improvement Plan addressing housing affordability and stability in Cabarrus County. Physical housing infratstructure is not the only form of housing support necessary when an individual or family find themselves in housing crisis.
- Cabarrus County Government
- City of Concord
- City of Kannapolis
- City of Concord - Housing Department
- Cooperative Christian Ministries
- Concord Family Enrichment Association
- Habitat for Humanity
- Community Link
- Prosperity Unlimited
Community Land Trusts (CLTs) are private, non-profit organizations that purchase land to lease to residents with low and middle incomes for housing use. CLTs separate ownership of the home and the land it occupies; the land is leased to homeowners as part of a long-term ground lease, typically for 99 years. Homeowners on CLT-owned land are required to sell the home back to the CLT or to another resident with low income at an affordable price. CLTs may also purchase and hold land to support community development, open space efforts, community gardens, and similar initiatives. CLTs often include stewardship activities such as teaching expectant and new homeowners about finances, alerting them to high risk loans, and assisting potentially delinquent homeowners.
Dedicated Affording Housing Development Funds - Many cities and towns have created dedicated affordable housing development funds. Often times, these funds are resourced from certain taxes collected by the city or through utility profits. Local governments can use these 'general funds' in a flexible manner without the restrictions of federal dollars.
Expedited Permitting - Delays during any stage in the development process add to the financial costs of new housing. Reducing the costs incurred by developers during the development review process makes affordable housing projects more attractive. Expedited permitting is a cost-efficient and very effective way of reducing developer costs. Fast tracking review and permitting of affordable housing projects reduces developers costs at no cost to local jurisdictions.
Housing Choice Voucher Program also known as Section 8, provides eligible low and very low income families with vouchers to help cover the costs of rental housing. Residents pay 30-40% of their income toward rent and a local public housing agency contracts with the landlord to pay the remainder, up to a specified maximum amount.
Weatherization Assistance Program (WAP) is a program of the US Department of Energy that assists low income families in making their homes more energy efficient and permanently reducing energy bills. The program often supports insulation of walls and attics, air sealing, ventilation improvements, furnace repair and replacement, and refrigerator replacement.
Employer Assisted Housing refers to housing programs that is fully or partially financed by an employer to incentivize and benefit employees to become homeowners or have access to affordable housing. On the development side, employers can provide cash financing for the development costs, donate land, or develop affordable housing themselves.
Density Bonuses, which can be provided at no additional cost to the local government, can be granted for projects in which the developer agrees to include a certain number of affordable housing units. Essentially, for each unit of affordable housing a developer agrees to build, a jurisdiction allows the construction of a greater number of market rate units than would be allowed otherwise.
A Low-Income Tax Credits (LIHTC) program helps to create affordable apartment communities with below-market rents by offering tax incentives to the property owners (not the tenant renting the unit). Properties may contain market-rate units that are not financially assisted in addition to reduced-rent LIHTC united under a tiered-rent structure.
A Housting Action Planning retreat was held by Healthy Cabarrus virtually, due to COVID-19 restrictions, on February 25, 2021. During the retreat, a group of community partners with expertise in the housing and homelessness space were convened to review the Community Health Needs Assessment findings and identify strategies, partnerships or new initiatives that could address factors impacting cost of living and homelessness. The discussion led to the need for a follow-up meeting so that muncipalities, landlords, builders, and the business community could be engaged, this meeting was held on August 3, 2021.
Several of these initiatives were recently funded though the COVID-19 American Recovery Plan/Cabarrus Recovery Grants. Those strategies are described below and progress will be captured in the SOTCH as program planning and implementation begin.
Community Interventions and Strategies
- The City of Concord budget sets aside one cent of the tax rate, or roughly $1.41 million, for affordable and workforce housing to help preserve and increase housing opportunities for citizens most in need.*
- The City of Concord and City of Kannapolis offer some expedited permitting of affordable housing projects which reduces developers costs, while incentivizing projects that include affordable units at no cost to the jurisdictions.*
- Concord Family Enrichment Association: Purchase land, properties, or units (joint ventures included) to develop affordable housing to serve households at or below 80 percent of the area median income (AMI). Add at least 80 units.
- Habitat for Humanity: Additional Affordable Housing program projects, continued efforts to assist individuals with Homeownership and Critical Repairs
- Critial Repair Collaborative (City of Concord, City of Kannapolis, Habitat for Humanity) meet monthly to reivew critical repair requests from owner occupied units that each of their agencies receive and ensure that local funds are being maximized to serve as man homeowners as possible.
- Prosperity Unlimited: Develop one (1) innovative affordable housing unit that will address many of the needs for low-tomoderate income families. Mortgage assistance program of up to $35,000 per household. Housing assistance for homeowners without mortgages to assist with funds to cover other housing related costs such as homeowner’s insurance, taxes, HOA, etc. Legal aid to assist homeowners with negotiating with the HOA if foreclosure proceeding has already begun or working with the servicer when the activity moves from a financial issue to legal action.
*These interventions are policy or process related changes, performance measures may be more challenging to developed as these interventions will create long term impact.