DRAFT Morrisville Affordable Housing Plan, September 23, 2019 version

DRAFT SEPTEMBER 23, 2019

Cost Scenarios

A payment into a regional housing trust fund would not serve as a replacement for the other steps recommended by this plan – but as an additive measure that recognizes the regional scope of the issue and as a down payment for active participation in the trust fund’s work and a beneficiary of trust fund investments. If a regional housing trust fund had a goal of raising a set dollar amount annually from local contributors – to then leverage with state, federal, and other resources – a fair share contribution from Morrisville (mirroring its 1.3% share of regional households) would be as follows:

MORRISVILLE

APEX

WAKE COUNTY

RALEIGH

REGIONAL HOUSING TRUST FUND Leverage local, state, federal, and private dollars to invest in affordable housing solutions that will work in the in the Research Triangle market.

If the trust fund sought to raise $10 million per year and $100 million over a decade … • Morrisville would contribute $130,000 per year and $1.3 million over a decade If the trust fund sought to raise $25 million per year and $250 million over a decade…

CARY

DURHAM COUNTY

DURHAM

• Morrisville would contribute $325,000 per year and $3.25 million over a decade

CHAPEL HILL

ORANGE COUNTY

Affordable Housing Plan for Morrisville, NC | 2019

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