Affordable Housing Investments in Mecklenburg County

Renaissance West Community Initiative

The North Carolina Housing Finance Agency has provided $1.8 million in Mecklenburg County’s District 38 since 1974 to finance more than 26,000 homes. The Agency has financed or provided rent assistance for 255,000 affordable homes and apartments statewide. In response to the recession, they have also financed foreclosure prevention loans for 24,671 unemployed workers and foreclosure prevention counseling for more than 87,000 families.

Recipients’ medium incomes are generally below 60% for rental housing and below 50% for the Housing Trust Fund. Units with financing from more than one agency program are counted separately under each contributing program, but only once in grand totals.

To put all of these numbers into perspective, see the breakdown below:

PRODUCTION

Housing Trust Fund

  • Housing units built or rehabilitated: 1,677
    • Funds provided: $15,352,900
  • Value of housing financed: $103,868,800

Home Buyer Mortgages

  • Homes financed: 15,300
  • Value of housing financed: $1,390,700,200

Housing Credits

  • Rental units financed: 8,247
  • Value of housing financed: $752,720,500

HOME Funds

  • Housing units financed: 1,465
  • Funds provided: $15,904,100
  • Value of housing financed: $122,057,200

Multifamily Bond Program

  • Rental units financed: 915
  • Value of housing financed: $36,365,000

Other Resources

  • Housing units financed: 1,125
  • Value of housing financed: $77,631,000

RENT ASSISTANCE

Key Program for People with Disabilities

  • Households assisted: 184
  • Assistance provided: $164,617,400

HUD Monthly Rent Assistance

  • Families assisted: 1,878
  • Assistance provided: $164,617,400

FORECLOSURE PREVENTION

Hardest Hit Fund

(NC Foreclosure Prevention Fund)

  • Households assisted: 4,056
  • Loan funds disbursed: $72,963,600
  • Property value: $543,777,300

Foreclosure Prevention Counseling

  • Households counseled: 13,567
  • Funds for counseling: $3,929,000

Information provided by The North Carolina Housing Finance Agency with data through December 2016.