WLKY NEWS. THANK YOU. MADISON. AT THIS TIME YESTERDAY WE BROKE DOWN MAYOR GREENBERG’S HISTORIC $1.2 BILLION BUDGET PROPOSAL, WHICH INCLUDES 15 MILLION ALLOCATED TOWARD AFFORDABLE HOUSING. MADELINE CARTER IS IN OUR NEWSROOM WITH HOW THAT MONEY COULD HELP FIGHT LOUISVILLE’S AFFORDABLE HOUSING CRISIS. MADELINE. MAYOR GREENBERG WANTS TO USE THAT 15 MILLION TO BUILD 15,000 NEW AFFORDABLE HOUSING UNITS ACROSS LOUISVILLE BY THE YEAR 2027. THE GAP LENDER RECEIVING THAT FUNDING SAYS IT WOULD GET THEM HALFWAY TOWARD THEIR GOAL. RIGHT NOW, THE OVERALL NEED IN THE CITY IS AROUND 30,000 LOW INCOME HOUSING UNITS. POVERTY IS NOT GOING AWAY. I’M CONCERNED THAT IT MAY GROW A LITTLE BIT WITH INCREASING COSTS FOR FAMILIES. CHRISTY MCCRAVY SAYS RISING COSTS AND FEDERAL CUTS COULD MAKE IT DIFFICULT TO ACHIEVE MAYOR GREENBERG’S GOAL. BUT THE EXECUTIVE DIRECTOR OF THE LOUISVILLE AFFORDABLE HOUSING TRUST FUND REMAINS HOPEFUL. I THINK IF WE KEEP WORKING HARD AT IT, WE CAN. SHE’S REVIEWING THE MAYOR’S BUDGET PROPOSAL, WHICH WAS REVEALED ON THURSDAY. HALF OF OUR MONEY HAS TO SERVE THE LOWEST INCOME POPULATIONS IN OUR COMMUNITY. THE PROPOSED BUDGET ALLOCATES 15 MILLION TO THE GAP LENDER TO BUILD 15,000 AFFORDABLE HOUSING UNITS BY 2027. THERE’S NO GREATER FOUNDATION FOR STABILITY THAN HAVING A PLACE TO CALL HOME, CALLED MY LOUISVILLE HOME. THE MAYOR SAYS HIS STRATEGY WILL CREATE LOW COST, SINGLE FAMILY HOMES, APARTMENTS AND DUPLEXES ACROSS THE METRO. IT WILL EXPAND ON THE 5000 UNITS ALREADY BUILT AND THOSE STILL BEING CONSTRUCTED, LIKE BRIDLEWOOD CROSSING IN SOUTH LOUISVILLE AND THE RUSSELL NEIGHBORHOODS. RICHMOND APARTMENTS. MCCRAVY SAYS THE 15 MILLION FOR THE LOUISVILLE AFFORDABLE HOUSING TRUST FUND WOULD GO TOWARD PROJECTS THAT ARE IN THE PRE-DEVELOPMENT STAGE. BUT OF COURSE, IT ALL DEPENDS ON WHETHER METRO COUNCIL GIVES THE MAYOR’S BUDGET THE FINAL APPROVAL. WE WILL ALL SEE WHAT ACTUALLY HAPPENS IN JUNE. AND ONCE THE BUDGET IS APPROVED, MCCRAVY SAYS THE NEXT STEP WILL BE MEETING WITH THE DEVELOPERS. SHE HOPES SOME OF THAT $50 MILLION BUDGET SURPLUS WILL GO TOWARD NONPROFITS HELPING TO PROVIDE LOW COST HOUSING ALL
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Proposed $15 million would create 15,000 affordable housing units across Louisville
Part of Mayor Craig Greenberg's historic $1.2 billion budget proposal could help fight Louisville's affordable housing crisis in the near future.The proposed budget revealed on Thursday includes $15 million allocated to the Louisville Affordable Housing Trust Fund to build 15,000 low-cost, single-family homes, apartments and duplexes across the Metro by 2027.The executive director of the gap lender that would receive the funding said it would get them halfway to meeting the city's overall need for around 30,000 affordable housing units."Poverty's not going away. I'm concerned that it may grow a little bit with increasing costs for families," said Christie McCravy.McCravy told WLKY that rising costs and federal cuts could make achieving Greenberg's goal difficult. However, she remains hopeful."I think if we keep working hard at it, we can," McCravy said.On Thursday, the mayor unveiled his strategy called "My Louisville Home."He said the effort will expand on the 5,000 affordable housing units already built in Louisville, as well as those still being constructed, including Bridlewood Crossing in South Louisville and the Russell neighborhood's Richmond Apartments."There's no greater foundation for stability than having a place to call home," Greenberg said.According to McCravy, the $15 million for the Louisville Affordable Housing Trust Fund would go toward projects that are in the pre-development stage, though she couldn't provide locations or other specifics.Of course, the outcome of it all depends on whether Metro Council gives the mayor's proposed budget the final approval."We will all see what really happens in June," McCravy said.Once the budget is approved, the trust fund's executive director said the next step would be meeting with developers.McCravy hopes some of the $50 million budget surplus will go toward nonprofits helping to provide low-cost housing across Louisville.
LOUISVILLE, Ky. —
Part of Mayor Craig Greenberg's historic $1.2 billion budget proposal could help fight Louisville's affordable housing crisis in the near future.
The proposed budget revealed on Thursday includes $15 million allocated to the Louisville Affordable Housing Trust Fund to build 15,000 low-cost, single-family homes, apartments and duplexes across the Metro by 2027.
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Mayor Greenberg announces historic $1.2B budget proposal
The executive director of the gap lender that would receive the funding said it would get them halfway to meeting the city's overall need for around 30,000 affordable housing units.
"Poverty's not going away. I'm concerned that it may grow a little bit with increasing costs for families," said Christie McCravy.
McCravy told WLKY that rising costs and federal cuts could make achieving Greenberg's goal difficult. However, she remains hopeful.
"I think if we keep working hard at it, we can," McCravy said.
On Thursday, the mayor unveiled his strategy called "My Louisville Home."
He said the effort will expand on the 5,000 affordable housing units already built in Louisville, as well as those still being constructed, including Bridlewood Crossing in South Louisville and the Russell neighborhood's Richmond Apartments.
'Bridlewood Crossing' bringing more affordable housing to south Louisville
"There's no greater foundation for stability than having a place to call home," Greenberg said.
Leaders break ground on new affordable housing units in Russell neighborhood
According to McCravy, the $15 million for the Louisville Affordable Housing Trust Fund would go toward projects that are in the pre-development stage, though she couldn't provide locations or other specifics.
Of course, the outcome of it all depends on whether Metro Council gives the mayor's proposed budget the final approval.
"We will all see what really happens in June," McCravy said.
Once the budget is approved, the trust fund's executive director said the next step would be meeting with developers.
McCravy hopes some of the $50 million budget surplus will go toward nonprofits helping to provide low-cost housing across Louisville.
