Housing Bond

HOUSING BOND

On November 5, 2024, Cary citizens will vote on a $30 million Housing Bond. If passed, it would further the goals of the Imagine Cary Community Plan and Cary Housing Plan, helping ensure all Cary citizens can enjoy the high quality of life Cary has to offer.

If approved, these funds would finance housing initiatives aimed at assisting residents with lower income across Cary (those who earn up to 60% and up to 80% of the area’s median income) in four primary strategic areas:

New Housing Opportunities

The bond would help facilitate the expansion of housing options including property acquisition, predevelopment costs, housing development gap financing, and homeownership programming. See the Cary Housing website for developments Cary funds have supported in the past.

Housing Rehabilitation & Affordability Preservation

Bond funds would also be dedicated to preserving Cary’s existing affordable housing stock. This area includes funding for the Healthy Homes Cary Program as well as rehabilitation gap financing for rental property owners reinvesting in aging multi-family properties.

Housing Stability Support

Bond funds would also be used to support residents going through financial hardship including workforce development, digital equity, and senior programming. In addition to these initiatives, this area includes funding for the Stable Homes Cary Program and the Oasis Utility Bill Fund Program.

Nonprofit Capacity Building

Cary does not operate a housing authority and is not a developer, so we work in close partnership with area nonprofit organizations to accomplish this work. Bond funds would support the organizational capacity of nonprofits working in the housing sector. This includes scholarships to attend the North Carolina Center for Nonprofits Management Institute as well as support for strategic planning and staff development to facilitate growth and increase impact. See the Cary Housing Partner Profiles to see information about our partners.

A modern three-story apartment building with a mix of brown and gray exterior materials, large windows, and balconies. The scene includes a parking lot with cars, landscaped shrubs, trees, and people walking on the sidewalk.
Vote on the Cary Housing Bond - A modern apartment building with a mix of brick and white exterior walls, multiple balconies, and large windows. The building is surrounded by neatly landscaped greenery and has a bright blue sky in the background.

Cary Housing Plan

Cary is a community of choice, offering quality and diverse housing programs to enhance and strengthen our community. The community aims to foster partnerships in order to meet housing needs and sustain economic growth so that all residents can enjoy the full benefit of Cary’s high quality of life. See the Cary Housing Plan page for more on the plan’s goals and a progress update.

Visit Cary Housing Website FAQ to learn more about housing affordability.

Although it becomes difficult to accurately predict the future the further out we go, we offer project date ranges as our best pre-referendum estimates based on current conditions including: the economy, community priorities; access to and costs of products, materials, and services; and the capacity of the Town to take on the project. As conditions change, some project date ranges may also change.

PARKS & RECREATION BOND

Cary’s 2024 Community Bond Referendum would continue our investments in shared aspirations found in the Imagine Cary Community Plan, bountiful green spaces, state-of-the-art facilities, and the essence of Cary’s exceptional quality of life.

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