The city of Charlotte has a funding gap to make up if it wants to keep its promises about how much affordable housing to build or maintain in the short term.
"A Charlotte City Council debate Monday over affordable housing revealed deep divisions, with some newly elected members saying the city isn't doing enough for its poorest residents," reports Steve Harrison.
Still, the debate produced preliminary approval for 11 new affordable housing projects, with funding potentially made available from the city's Housing Trust Fund.
The funding contingencies involve a mixture of Housing Trust Fund money and state tax credits, with the city shifting money to the trust fund to get closer to its goal of building or maintaining 5,000 units of affordable housing by the end of 2019. The city could also still request a $50 million bond to fund the trust fund.
The article includes details about the politics of affordable housing in the city, as well as where the 11 projects stand in the planning and approvals process.
Oscar Perry Abello offers additional coverage of Charlotte's affordable housing policies.
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