The Mecklenburg County Commissioners Council voted unanimously on August 4e Approve the Davidson Housing Coalition’s request for a 10-year rent subsidy of $ 300,000 for the eight townhouses that DHC will purchase as part of the Hoke Townhome development on Jetton Road in Davidson. DHC will make these eight units permanently affordable rentals. They will be distributed throughout development and managed by DHC.
LaShonda M. Hart, Program Director of Mecklenburg County Affordable Housing Initiatives, said: “The collective impact this collaboration will have on the Town of Davidson is an example of the success of sharing a common goal to find creative solutions for affordable housing through rental subsidies. “ Executive Director Gerald Wright said, “The County Commissioners’ approval is excellent not only for the development of Hoke and DHC, but also a big step forward for affordable housing in our area.
County funds will be used to pay the difference between what the tenant can afford and the going rental rate. “This generous county grant gives us assurance that we will be able to raise additional funds to expand our grant program to other local rental properties to serve more people whose incomes qualify them for affordable housing.” , Wright reports. “With generous grants and donations, our ability to match rental properties with deserving households can extend beyond rental properties that actually belong to DHC.”
The supply of affordable local rental housing is a common limitation on the ability of families to move out of housing insecurity and become more financially self-sufficient. As an innovative strategy to increase the number of affordable rental units for people earning less than 80% of the Area Median Income (MAI) in our community, DHC explored the possibilities of funding its new local rental subsidy initiative. , which she named Affordable for the United States. “As we continue to explore the possibilities of adding additional affordable housing to the land, County Commissioners’ approval of this $ 300,000 grant allows us to subsidize existing housing, making it affordable for people to live in. us, ”adds Wright.
DHC is located at 220-A Sloan St. in Davidson. For more information, visit www.davidsonhousing.org.