Commissioners pledge $15 million to affordable housing in New Hanover County

NEW HANOVER COUNTY (WWAY) — Thursday, New Hanover County Commissioners voted to pledge $15 million toward more affordable housing in the region.

“The board has suggested not less than three million,” said County Manager Chris Coudriet in the joint City-County meeting “Which would be 15 over five years… and leverage that in year one, year two, year three, year four, and year five to take 15 and turn it into 50 (million dollars).”

The money will go into pre-existing programs like the low income tax credit, permanent supportive housing project, and gap funding. This comes as commissioners review findings that many civil servants have had to move to other counties to find affordable housing.

“We’ve got teachers and firemen and mechanics that can’t live in town. That live in other places. Not that that’s bad, but it’s not right, ” said Councilman Charlie Rivenbark.

Half of the money the city and county will put forward will be used for property acquisition and rehabilitating existing units. Councilmembers and commissioners are still debating whether building new units or rehabilitating old ones will house more people the fastest.

“The City itself doesn’t really have enough land for enough large projects like the Starway project to really build your way out of it,” Mayor Pro-tem Margaret Haynes explained.

Commissioners and council are working to attract private sector construction companies to their banners, incentivizing building affordable housing.

“We need to identify the incentivization,” said Commissioner Rob Zapple. “Whether its the property or as was brought up utilities going to it, water, power, sewer being brought to those using public money to reduce the cost of the overall project to get new units in. That’s all part of the discussion.”

The first $3 million will be disbursed July 1 of this year, at the beginning of the budget’s cycle.

Wilmington City Council says the City has pledged $52 million over more than 20 years for affordable housing, using on average $2 million a year.

Click this link for slides on affordable housing from the Joint meeting.