Raleigh Affordable Housing Bond Referendum (2020)

The 2020 Affordable Housing Bond Referendum was a voter-approved bond measure that provided funding for affordable housing programs and developments in the City of Raleigh. The referendum appeared on the November 3, 2022 ballot and was approved by voters.

Early discussion of an Affordable Housing Bond (2019)

April 2019 – Council initiates exploration of a housing bond

Formal discussion of a new affordable housing bond began in spring 2019. At the April 16, 2019 City Council meeting, Council Member Russ Stephenson introduced a proposal directing staff to begin due diligence on a potential affordable housing bond and return to Council with options by June 2019.

Stephenson’s motion called for staff to evaluate two options for a “substantial affordable housing bond” that could be placed on either a 2019 or 2020 ballot. The motion identified guiding principles for staff’s analysis, including geographic distribution of investments consistent with the City’s Affordable Housing Location Policy, support for multiple housing types and income levels, inclusion of both new construction and rehabilitation, use of public-private partnerships, and prioritization of sites near planned high-frequency transit corridors, particularly Bus Rapid Transit.

The motion was seconded by Council Member Stef Mendell and adopted on a 6–0 vote, formally initiating staff work on a housing bond proposal.

May 2019 – Staff presents bond structure, funding uses, and scenarios

On May 7, 2019, staff from the Housing and Neighborhoods Department presented initial affordable housing bond scenarios and outlined the procedural requirements for placing a referendum on the ballot.

The presentation identified core funding categories, including land acquisition, gap financing for Low-Income Housing Tax Credit developments, rehabilitation of existing housing stock, and down-payment assistance. Staff also described a five-year implementation horizon for deploying bond proceeds and the role of the Qualified Allocation Plan (QAP) in evaluating housing investments.

Staff presented three illustrative bond scenarios tied to different property tax rate increases. The scenarios included total bond amounts of approximately $37,700,000, $56,700,000, and $75,700,000, corresponding to estimated property tax increases of roughly 0.50¢, 0.75¢, and 1.00¢ per $100 of assessed value. These scenarios were intended to demonstrate how different bond sizes would affect the scale and pace of affordable housing investment rather than to recommend a specific amount.

No formal action was taken at the May meeting. Staff indicated that additional direction would be required by mid-June to place a referendum on the October 2019 ballot.

June 2019 – Shift from fall 2019 to spring 2020 timing

At the June 4, 2019 City Council meeting, staff presented additional options for referendum timing, including placement of a housing bond on the March 2020 primary ballot rather than the October 2019 municipal election.

Council directed staff to prepare further analysis of a spring 2020 option, including updated bond amounts and associated tax impacts. The item was held and scheduled to return after the summer recess as a special item for further consideration.

August 2019 – Calendar decisions and stakeholder engagement

On August 20, 2019, staff returned to Council with detailed calendar options identifying the deadlines required to place an affordable housing bond referendum on the March 2020 ballot.

Council authorized staff to convene stakeholder meetings with the objective of advancing a March 2020 affordable housing bond referendum. The motion was adopted unanimously on an 8–0 vote.

2020 Affordable Housing Bond activity

January 2020 – Council directs formation of an advocacy group

At the January 21, 2020 City Council meeting, city staff presented an update on the process for authorizing an affordable housing bond referendum for the November 2020 ballot.

A Finance Department memorandum outlined statutory deadlines and procedural requirements for placing multiple bond referenda on the November 2020 ballot, including an affordable housing bond.

During the meeting, Mayor Mary-Ann Baldwin directed staff to convene an affordable housing bond advocacy group and return to Council with feedback in advance of the statutory deadlines required to place a bond referendum on the November 2020 ballot. Without objection, staff was directed to proceed with convening the group.

February 2020 – Affordable Housing Bond Advisory Committee announced

At the February 11, 2020 City Council meeting, Director Jarvis presented the roster of the Affordable Housing Bond Advisory Committee (AHBAC), which Council had requested staff to assemble.

The committee included representatives from nonprofit affordable housing developers like DHIC and Habitat for Humanity of Wake County, the Raleigh Housing Authority, homelessness service providers, faith-based and social service organizations, housing advocacy groups, community-based organizations in Southeast Raleigh, the real estate and development community, and statewide housing and legal advocacy organizations. Staff indicated that the committee would be supported by City staff but would operate independently in developing its recommendations.

April 2020 – COVID-19 impacts process; housing bond prioritized over parks

In March 2020, in-person public meetings were suspended due to the COVID-19 pandemic. As a result, advisory committee meetings and public engagement related to the housing bond were conducted remotely using conference calls and videoconferencing platforms.

At the April 7, 2020 City Council meeting, the Parks, Recreation and Greenway Advisory Board (PRGAB) presented project recommendations for a potential parks bond referendum. During the meeting, Mayor Baldwin stated that Council had decided to defer the parks bond and proceed with a housing bond.

May 2020 – Advisory committee recommends an $80 million bond

At the May 19, 2020 City Council meeting, the Affordable Housing Bond Advisory Committee presented its final report and recommendations for a November 2020 affordable housing bond referendum. The committee recommended a bond package totaling $80,000,000.

The final report documented that the committee met regularly beginning in late February 2020 and continued meeting remotely after in-person meetings were suspended due to COVID-19. Public input was collected through virtual meetings and an online survey.

The report described proposed uses of bond proceeds, including land acquisition and land banking, gap financing for Low-Income Housing Tax Credit developments, public-private partnerships, rehabilitation of existing housing, homeowner assistance programs, and down payment assistance. The report also identified housing needs that were not bond-eligible, including eviction prevention and short-term rental assistance, and discussed coordination with Wake County programs.

June 2020 – Council initiates the legal process for a November referendum

On June 2, 2020, City Council adopted a preliminary findings resolution and authorized staff to file an application with the Local Government Commission for an affordable housing bond referendum in an amount not to exceed $80,000,000. Council also authorized the City Clerk to publish notice of intent to file the application.

The Finance Department prepared a memorandum describing the statutory referendum calendar, required Council actions, and projected impacts to property owners associated with the proposed bond.

On June 16, 2020, City Council introduced and passed on first reading a bond order authorizing $80,000,000 in Affordable Housing Bonds and scheduled a public hearing for July 7, 2020. The action was approved on the consent agenda by an 8–0 vote (Ordinance 102).

July 2020 – Public hearing and referendum authorization

On July 7, 2020, City Council held a public hearing on the proposed $80,000,000 Affordable Housing Bond Referendum. Following the hearing, Council adopted the bond order on second reading and adopted a resolution calling for the referendum to appear on the November 2020 ballot. The resolution was adopted by a 6–1 vote, with Council Member David Cox voting against the measure (Resolution 89).

November 2020 – Referendum results

The affordable housing bond referendum appeared on the November 3, 2020 general election ballot. Voters approved the City of Raleigh Housing Bonds Referendum by a margin of 72 percent to 28 percent.

Option	Votes	Percent
Yes	168,168	71.74%
No	66,244	28.26%

Future housing bond

At a community organized by ONE Wake on July 12, 2025, Council members expressed support for a future housing bond. During the gathering at Watts Chapel Missionary Baptist Church, some vocally committed to a housing bond of $200 million.

See also

• 2022 Raleigh Parks Bond Referendum

• Affordable housing in the Raleigh area