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Huntersville approves $30,000 grant to Lake Norman CDC for rental‑bridge program to prevent displacement
Summary
The board unanimously approved a $30,000 nonprofit funding agreement to expand Lake Norman CDC’s rental bridge program, providing up to $500 monthly rental assistance paired with financial coaching; CDC reported measurable outcomes for graduates, including average credit‑score and savings gains.
Huntersville — The Town of Huntersville on May 19 approved a $30,000 funding agreement with the Lake Norman Community Development Corporation to expand its rental‑bridge program for residents at risk of housing instability.
Chris Fountain, CEO of Lake Norman CDC, told the board the rental‑bridge program provides short‑term rental assistance (up to $500 a month) combined with required financial education and coaching. Fountain said program graduates show measurable gains: "those that graduated increased their credit score by 56 points. They increased their savings by $2,000 and they reduced their personal debt by $4,200." He said the CDC has helped 17 Huntersville households through rental bridge and critical‑repair programs and that a $30,000 town grant could stabilize about five to eight Huntersville households depending on eligibility periods.
Town staff presented the request as part of the town’s affordable‑housing fund allocations for fiscal years 2025–26. Commissioners thanked the CDC for its work; the board voted unanimously to appropriate $30,000 to support the rental‑bridge program.
The funding is intended to preserve housing stability and complement other local affordable‑housing strategies. The board asked the CDC to continue reporting program outcomes to the town.
