In a recent government meeting, city officials discussed strategies to enhance affordable housing initiatives, focusing on the utilization of city-owned land and financial tools to support low-income residents. The meeting highlighted that 112 housing units have been developed on city-owned land, with a requirement that 20% of these units be affordable for households earning 60% of the Area Median Income (AMI) or below. However, concerns were raised about the effectiveness of these measures in addressing the needs of the city's Black residents, who often earn less than the median household income.

Officials noted that selling land below market value could empower emerging developers with limited capital, although this approach sacrifices potential tax revenue for the city. Recommendations included prioritizing developments that support households earning 50% to 60% of AMI or below and extending affordability periods beyond the standard 30 years to ensure long-term equity goals are met.

The discussion also touched on the potential establishment of a land bank, which could serve as a reserve of properties for affordable housing development and provide collateral for loans. Collaboration with local organizations, such as the Asheville Buncombe Community Land Trust, was emphasized as a crucial element in these efforts.

Key tools identified for enhancing affordable housing included the city's housing trust fund, which should be expanded to cover home repairs and land acquisition, and the bond program, which is seen as a powerful resource for various housing strategies. The meeting concluded with a call for greater collaboration among stakeholders to maximize the impact of these initiatives and protect long-term affordability in Asheville's competitive real estate market.