Raleigh Votes YES on Housing Bond

On November 3, 2020, the Raleigh Affordable Housing Bond passed with an overwhelming 71% of the vote. Families Together strongly endorsed the bond and worked with our non-profit housing partners in the Wake Affordable Housing Coalition for its passage. We participated in public information sessions and worked to educate our constituents and others about the importance of the bond and how it would advance affordable housing goals in Raleigh. We are pleased to report that the resulting $80 million bond will help fund critically-needed housing opportunities for residents with limited incomes including families experiencing homelessness. 

Some key features of the bond:

  • Bond funds will be available to create and preserve affordable rental housing options for lower income residents currently living in areas experiencing rapid appreciation.

  • The down payment assistance program will create opportunities for individuals and families with low- to moderate- incomes to pursue first-time homeownership, which will help stabilize these neighborhoods and create wealth building opportunities.

  • The home rehabilitation program will benefit existing homeowners, including seniors or those with a disability by providing funds to make critical repairs. This program will enable owners to remain in their homes longer. The existing program has a waitlist and bond proceeds will supplement the current fund.

  • Affordable rental housing that is created or preserved with bond funds will require a minimum affordability period of 30 years. In addition, the Housing Choice Voucher must be accepted as a form of payment.

The City of Raleigh estimates that the bond proceeds will create and/or preserve a minimum of 1,766 units over a 5-7 year time period.

At a time when home means more than ever, the Raleigh Housing Bond is a crucial step forward for our region. Thank you to all who voted for its passage.

As a non-profit housing provider, Families Together will continue to be a strong advocate for families experiencing homelessness and will work to ensure that bond-financed projects support these families to the full extent possible. 

For more on the bond, read the FAQs prepared by the Wake Affordable Housing Coalition with support from Families Together.

Affordable Housing, FamiliesMartinique Lovett