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4 <br /> <br />Mr. Lynch said he would only support it in partnership with PHA or Habitat. <br /> <br /> Dr. Brown said there is an unaddressed need for low rent housing, and there is a <br />dwindling number of owners willing to accept Section 8 housing. He said he would like <br />to find some way for the City to facilitate quality housing for which vouchers can qualify. <br /> <br /> Mr. Schilling said the question needs to be asked about why Section 8 housing is <br />declining. He said it is becoming burdensome for them, and suggested ways be found to <br />mitigate this. <br /> <br /> Ms. Hamilton said that HUD is cutting back on the money they give, and owners <br />are reducing their Section 8 units because the time limit is up. She suggested that we talk <br />with the Housing Authority to see what kind of partnership would be desirable. <br /> <br /> Mr. Schilling asked if we are seeing a shift in the percentage of owner occupied <br />versus rental property, and Mr. Tolbert said there have been conversions of single family <br />rental housing to owner occupied, but overall there is still more rental housing. <br /> <br />It was agreed that the issue would be explored further. <br /> <br /> 7) A major concern of the Task Force was the long-term commitment and <br />guarantee of affordability for houses as they are resold. Decision point: Do you <br />desire staff to put together procedures for monitoring, enforcing occupancy and <br />resale restrictions and establish a first right of refusal and develop mechanisms to <br />ensure affordability for projects where we work with the developers to provide <br />affordable housing? <br /> <br />It was pointed out that this is tied to #8 <br /> <br /> Dr. Brown said if we do not do this we contribute to the gentrification of <br />neighborhoods. <br /> <br /> Mr. Lynch said that the flip side of that argument is what happened in Starr Hill. <br />He said he would prefer not to tie it to a specific house, noting that PHA may take the <br />money and use it elsewhere. Mr. Lynch said he does not think what has happened in the <br />past five years in the housing market will continue. <br /> <br /> Ms. Hamilton said the logic of a trust fund is to create a mechanism to have <br />affordable housing where the need is greatest. <br /> <br /> Mr. Caravati said he agrees with the theories, and said there probably needs to be <br />a mixture. <br /> Mr. Overton McGee, Executive Director of Habitat for Humanities, said that he <br />thinks the housing boom will change when interest rates go up, but it will still be here, <br />though not like in the last few years. <br /> <br /> Mr. Armstrong said there will be a continued demand in the market place for <br />housing by children of baby boomers. <br /> <br /> Responding to a question from Dr. Brown about a trust fund model versus <br />guaranteeing affordability of individual houses, Mr. Armstrong said a percentage could <br />be done under a land lease model. <br /> <br /> Mr. McGee said he does not think it should be tied to a single property, but feels <br />there should be options and portability. <br /> <br /> 8) There has been a great deal of talk about the housing trust fund that <br />Piedmont Housing Alliance has been working to create, and others in the <br />community have expressed interest. At a recent Council meeting it was discussed <br />that land obtained from the sale of public property might be placed into a housing <br />trust fund to get one started. Additionally, there are funds available in the Housing <br /> <br /> <br />