Affordable Housing is a Community Asset
Our community benefits from a range of housing–homes for teachers, health care workers, police officers, service sector employees, people living on disability income, and others who we know, care about, and depend upon. Yet many of these people cannot afford to live here.
Our Friends and Colleagues Can’t Afford to Be Our Neighbors
Most people who live, work, play, or worship in Cary understand intuitively that it is an increasingly expensive place to live. Increasingly people who work in Cary are forced to live outside of town. This hurts our community–e.g., congested roads and pollution, decreased socioeconomic and cultural diversity, and difficulty in getting critical workers in place during, for instance, inclement weather.
We Can Do Better
Affordable housing helps the community and the families who live in it–research demonstrates that affordable housing has positive effects on physical and mental health, educational attainment, and wealth building. The Town has plans for creating and preserving affordable housing, but has invested few local resources to implement them. The need is even greater given the expected influx of highly paid workers from the Epic Games expansion and the new Apple Campus, workers who will compete for a scarce number of affordable units, driving up the cost of housing in the process.
We ask the Cary Town Council to Prioritize the Budget so that a Penny of the Town’s Tax Rate Goes Toward Creating and Preserving Affordable Housing.
This “Penny for Housing” will be repaid many times over as it: leverages private funds to build and preserve housing, adds property to the tax rolls, and increases the diversity of our community. Most importantly, it will help pay a social return by allowing more of our friends and colleagues to live with us in Cary.
The Penny for Housing would equal $35/year of the taxes paid by the owner of a home valued at $350,000, and would total roughly $3 million annually town-wide.
How You Can Get Involved
1) Join ONE Wake’s 10,000 Strong Campaign to show your support for a Penny for Housing in Cary: www.onewake.org/10000strong
2) Invite members of your congregation, neighbors, friends, and family to join you. Contact us at [email protected] to learn how.
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