The Durham County Commissioners approved $1.5 million in additional funding for an affordable housing loan fund that is expected to leverage $30 million in total lending capacity by the end of 2025. The county is re-budgeting $1 million that was not spent in the previous fiscal year and adding $500,000 in new funding. Combined with Duke University's $2 million commitment and city contributions, the expanded fund will help developers create affordable housing options. County Manager Hager noted that the additional $500,000 was necessary to reach the threshold required for federal and private partners to invest in the program. The initial loans issued through the fund have had zero defaults.
The board also heard alarming news about a $17.6 million funding crisis as federal pandemic relief money for youth programs expires. County staff presented data showing that $276 million annually goes to youth services, including nearly all funding for Durham Public Schools. But the temporary American Rescue Plan Act dollars that supported afterschool programs, nonprofit youth services, and recreation activities are running out with no plan to backfill the gap. County Manager Hager told commissioners that 17 nonprofit afterschool providers with small staffs are winding down operations. Multiple commissioners noted that youth in the community have identified critical needs: a teen center, better park and recreation access, safe transportation, and more academic support after school.
One email a week — new spots, neighborhood intel, and what's actually worth your time.