WINSTON-SALEM, N.C. — It can be a challenge to find an affordable place to live in Charlotte.
With that in mind, city council wants to put an option to build more housing on the ballot this year. It’s all on the table at this week’s council retreat in Winston-Salem.
Charlotte City Council started the morning discussing affordable housing. It’s one of their two biggest priorities in 2024, with the other issue being crime.
2024 CHARLOTTE CITY COUNCIL RETREAT:
- ‘A little bit harder’: Property, sales tax increases on the table for Charlotte
- Councilmembers focus on Charlotte crime, transit future during annual retreat
Right now, Charlotte City Council has the means to put a $50 million affordable housing bond on the ballot in 2024, 2026 and 2028. But the NEST Commission, Charlotte’s neighborhood committee, wants the bond to be $100 million. $25 million of that would go to anti-displacement measures, meaning efforts to keep people in their homes and not be priced out.
If the council wants to go that route, they’ll need to find the money. That means they’ll have to take it away from other priorities like street resurfacing or sidewalks. Another option would be for them to bring in a new revenue source. That could mean a property tax increase.
City Manager Marcus Jones said his staff wants direction from council and they’ll make it happen.
“If it is the will of the council to have more resources, whether it is transportation or affordable housing, we will find ways to develop that capacity for your priorities,” he said.
The city has about $9 million left from the 2022 affordable housing bond for units. There’s about $5 million left for anti-displacement.
(WATCH BELOW: Council agrees to give developer more time to build Ballantyne affordable housing)
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