Charlotte City Council members approved $5 million to implement anti-displacement programming on Monday nights.
The Neighborhood Equity and Stabilization (NEST) Commission, a group established in 2022 to review and recommend strategies to protect vulnerable residents from displacement, designed the program.
Displacement occurs when residents are forced to leave their homes due to rising housing costs. Lease nonrenewals or evictions can also cause displacement.
Elderly residents, people with low income and people of color are all statistically at a higher risk of displacement.
The $5 million funding will support the following recommendations created by the NEST Commission:
- Create homeownership opportunities for low-to-moderate-income residents through the expansion of the Acquisition, Rehab and Resale Program and the House Charlotte Plus Program
- Establish an Accessory Dwelling Unit program to provide affordable rental units and create income streams for low-income homeowners
- Provide housing rehabilitation services and tenant support to small landlords to create safe, affordable deed-restricted rental units in rapidly changing neighborhoods
- Increase access to services that promote resident stability and economic mobility through resource and referral services and community partnerships
- Reduce barriers to programs and information through targeted outreach and communications
- Establish a pilot program to increase capacity for innovative shared ownership models
Funding comes from the Coronavirus State and Local Fiscal Recovery Fund and must be spent by Dec. 31, 2026.
Read more at QCityMetro.com
