Wake County commissioners sign off on affordable housing plan

WAKE COUNTY, N.C. (WTVD) -- Wake County commissioners have signed off on an $11 million plan for more affordable housing.

From Raleigh, Cary, Garner and Zebulon these projects are expected to benefit families and seniors.

Across the seven projects, 461 units are expected to be built.

To qualify for a unit, people must earn below 80% of the area median income.

ABC11 spoke with the Mark Perlman, division director of equitable housing and community development with Wake County.

He says the county's commitment towards these projects will help serve a critical need in communities across the county.

"This creates places for working people in Wake County to live, it creates housing opportunities that the market has not been able to create on its own," he said.

The way most affordable housing developments are done in Wake County is through the low-income housing tax credit program.

It's a federal program that leverages tax credits for investors in exchange for equity investments and affordable housing units.

The next step in the process will take place in August when an announcement will be made on who has been awarded the tax credit so these projects can begin.