Raleigh Affordable Housing Bond Referendum (2020)

The 2022 Raleigh Parks Bond Referendum was a voter-approved bond measure that provided funding for parks, greenways, and recreational facilities across the City of Raleigh. The referendum appeared on the November 8, 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 Stephensonintroduced a proposal directing staff to begin due diligence on a potential affordable housing bond and return to Council with options by June 2019.

According to the meeting minutes, Stephenson distributed a handout outlining the rationale for a new bond and moved to direct staff to evaluate two potential options for a “substantial affordable housing bond” that could be placed on either a 2019 or 2020 ballot. While the overall design of the bond package was to be developed by City staff in coordination with Raleigh’s adopted affordable housing policies, Stephenson outlined several guiding principles for staff’s analysis. These included providing roughly equal geographic distribution of investments consistent with the City’s Affordable Housing Location Policy, supporting a range of housing types and income levels in coordination with Wake County, including both new construction and rehabilitation where financially viable, pursuing innovative development partnerships, and prioritizing projects 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. This action marked the first formal Council directive initiating development of an affordable housing bond proposal.

May 2019 - Staff presents bond structure, funding uses, and timing

On May 7, 2019, staff from the Housing and Neighborhoods Department returned to City Council with a presentation outlining potential affordable housing bond scenarios and the mechanics required to place a referendum on the ballot.

The presentation described proposed funding categories, including land acquisition, gap financing for Low-Income Housing Tax Credit developments, rehabilitation of existing housing stock, and down-payment assistance. Council discussion focused on implementation details, including whether bond funds could be used to purchase and rehabilitate older apartment complexes, the anticipated five-year timeline for deploying bond proceeds, and the role of the Qualified Allocation Plan (QAP) in allocating housing resources.

At the May 7, 2019 meeting, City staff presented three illustrative affordable housing bond scenarios tied to different property tax rate increases. According to the slides shown to Council, the scenarios included total bond amounts of approximately $37,700,000, $56,700,000, and $75,700,000 with corresponding projected costs to the City of $38,200,000, $57,300,000, and $76,400,000, respectively. These totals were linked to property tax rate increases of roughly 0.50¢, 0.75¢, and 1.00¢ per $100 of assessed value. Council members discussed how larger bond amounts could expand funding for land acquisition, gap financing for Low-Income Housing Tax Credit projects, public-private partnerships, homeowner rehabilitation, and down-payment assistance, while also weighing the potential impact on property taxpayers. The presentation underscored that these scenarios were illustrative and that final decisions on bond size and tax implications would be made by Council in conjunction with subsequent analysis and public engagement.

Council members also discussed income targeting thresholds, particularly the tradeoffs between serving households at 60 percent versus 70 percent of Area Median Income. Staff noted that Raleigh’s prior affordable housing bond had been approved by voters with a 62 percent majority, prompting discussion about public support for a new referendum.

Several Council members cited the City’s 2018 Citizen Survey, which identified affordable housing as the most important issue facing residents, and expressed interest in placing a bond referendum on the October 2019 ballot rather than delaying further. City Manager Ruffin Hall indicated that staff would return with additional direction in June and noted that Council approval by mid-June would be required to meet the October election deadline. The Council received the presentation without taking formal action.

June 2019 - Shift from fall 2019 to spring 2020 timing

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

During discussion, Mayor Pro Tem Corey Branch emphasized broad Council agreement on the importance of affordable housing and raised the possibility that a spring primary election would allow more time for public engagement and coalition-building. Council Member Stephenson stated that while he preferred a 2019 referendum, he viewed a March 2020 election as a reasonable compromise. Council Member Kay Crowder requested additional analysis of a spring 2020 option, including proposed bond amounts and associated tax impacts.

City Manager Hall indicated that staff would prepare a report for Council consideration after the summer recess. By consensus, the item was held at the table and scheduled to return as a special item at a future meeting.

Calendar decisions and stakeholder engagement (August 2019)

Council consideration of a housing bond referendum advanced further at the August 20, 2019 City Council meeting, when staff presented detailed calendar options and identified the procedural deadlines required to place a referendum on the March 2020 ballot.

City Manager Ruffin Hall summarized that Council action by early October 2019 would be required to meet election deadlines. Council discussion centered on stakeholder engagement and campaign logistics. Several Council members referenced prior affordable housing bonds, which had relied on independent advocacy organizations to conduct public outreach.

Council Member Stephenson reported that he had begun discussions with external stakeholders interested in supporting a March 2020 referendum and advocated for Council to signal its intent so that campaign planning could proceed. Other Council members cautioned against committing to a referendum date without broader stakeholder input.

Following discussion, Council Member David Cox moved to authorize staff to convene stakeholder meetings with the stated objective of advancing a March 2020 affordable housing bond referendum. The motion was seconded by Mayor Pro Tem Branch and adopted unanimously on an 8–0 vote. This action formally transitioned the housing bond effort from internal analysis to external engagement and campaign preparation.

2020: Council forms the Affordable Housing Bond Advisory Committee

The City’s own Affordable Housing Bond page summarizes that Council directed housing staff to look at two bond options for the November 2020 ballot and that a 24-person Affordable Housing Bond Advisory Committee was formed to review options, gather public input, and recommend a preferred package.

2020

February 11 - Larry shares Housing bond committee members with council https://go.boarddocs.com/nc/raleigh/Board.nsf/goto?open&id=BJJUE877BE11

June 16 2020

November election