Town of Cary Affordable Housing Tool Kit

This document describes a number of regulatory activities Cary, North Carolina can undertake to promote the development of affordable housing. The high priority tools include inclusionary zoning with density bonuses, fast-track review, development fee reimbursements, growth control exemptions, creative density increases, infrastructure support, downpayment/closing cost/mortgage assistance, homeownership education, and grants for affordable housing development. Medium priority tools include partnerships with financial institutions that proactively address affordable housing needs, land purchase and transfer to affordable housing developers, and employee ownership programs. The report details pros and cons of each policy option to enable decision-makers to implement the most effective affordable housing strategy. Best practices from other jurisdictions are included in the discussion as well.

http://www.townofcary.org/depts/dsdept/P&Z/affordablehousing/toolkit.pdf

Toolkits Page