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Brick Capital CDC reports counseling work, warns HUD down‑payment limits hinder many buyers; City pledges continued funding
Summary
Brick Capital CDC reported on home‑buyer education, foreclosure/eviction prevention counseling and NCHFA down‑payment assistance; executive director said market prices push many families above HUD down‑payment thresholds, and the City committed to continued funding.
Brick Capital Community Development Corporation (BCCDC) Executive Director Kerry Bashaw told Council that BCCDC provided homebuyer education courses, one‑on‑one counseling for prospective homeowners, foreclosure and eviction prevention services, and assistance applying for North Carolina Housing Finance Agency (NCHFA) down‑payment funds.
Bashaw said the availability of down‑payment assistance is constrained because current market home prices often exceed HUD qualifying down‑payment limits; the minutes note the HUD qualifying down‑payment limit described as $50,000. She said BCCDC plans a new affordable housing project near Horton Park this year and that while there is interest in tiny homes, multi‑housing units are generally more cost‑efficient to build.
City Manager Hal Hegwer told Council the City is committed to continuing funding in the next and subsequent budgets to address affordable housing needs and prevent foreclosures and evictions.
The report was informational; Council did not take a formal vote but discussed program priorities and options.
