City of Charlotte Passes Source of Income Policy
On July 11, 2022, the Charlotte City Council passed a policy that requires affordable and market rate developers (including master developers/third-party developers) receiving any City-provided subsidies, financial incentives, or conveyances of real estate for the production of housing, infrastructure reimbursement incentives (i.e. Tax Increment Grants, etc.) from the City of Charlotte to accept Housing Choice Vouchers (Section 8) and/or other rental subsidies. This Policy is intended to keep prospective residents with vouchers or rental subsidies in City-supported developments from being disqualified from rentingbased on a subsidy being their ‘source of income’. The Policy went into effect on July 11, 2022.
The City is finalizing enforcement and will also require annual reporting from properties that have received city funding assistance. The enforcement mechanism is the one piece they have not yet approved. City staff are working on an updated enforcement mechanism, based on feedback they’ve received from various stakeholders, which they will share with the Great Neighborhoods Committee on August 15th. It is possible that on August 15th the Committee will request that the enforcement recommendation be shared with City Council for a vote on August 22nd. For more details and to review the Policy click here.