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Lake Norman CDC


Frequently Asked Questions

Affordable Housing Helps Everyone in Our Communities


What is considered affordable housing?

Affordable housing refers to housing options that cost individuals or families 30% or less of their total income. If a person makes $44,000 a year, for their housing to be considered “affordable,” their rent/mortgage and utilities should not be greater than $1,100.


Who qualifies for affordable housing?

Eligibility for affordable housing is based on income limits set by the government or local authorities. These limits vary depending on the area and household size.


What qualifies as a Critical Home Repair?

The non-profit overseeing the work will have their own guidelines for what qualifies as a critical home repair.  The LKNCDC application lists the critical home repairs we will fund.


Are there any additional fees or charges associated with the rental assistance in the Rental Bridge Program?

There are no additional fees related to the rental assistance, however, a person may select to attend a financial or career class as part of our program that has an associated fee.


How quickly will a Critical Home Repair be completed?

That depends on the non-profit overseeing the repairs.  The LKNCDC does not get involved with the project onsite.


How do you ensure the quality and safety of your Rental Bridge units?

Our organization will only provide rental assistance to participants renting a property that meets safety and quality standards.


How can I support your affordable housing non-profit?

You can support our organization by volunteering your time, making a financial donation, affirming affordable housing initiatives with community leaders or spreading awareness about our mission and programs within your sphere of influence.


Why do you use the phrase “attainable affordable housing?”

Even though an area may have some affordable housing there may not be enough available or attainable affordable housing to meet the needs of the community. The Lake Norman CDC wants affordable housing to be attainable for more people who desire to live where they work. Without greater attainability, companies are challenged to recruit and retain the employees they need closer to the workplace.


How can I apply for one of your rental programs?

Go to the section of interest on our website, where a pre-qualifying or qualifying application is available.  You can also contact our organization directly. We will provide you with the necessary application forms and guide you through the process.


How long is the Rental Bridge approval process?

An application can usually be approved within 7 business days if all documentation has been submitted.


What types of properties are available in the Rental Bridge Program?

A participant may select to rent an apartment, townhouse, or single-family home. The key is that the property owner must be willing to accept a rental assistance check from the Lake Norman CDC monthly.


How long can I stay in the Rental Bridge unit?

The rental assistance is for one year, with an option to renew for a second year once the financial coaching is completed.


Do you offer programs to help residents improve their financial situation?

Yes, we strive to support the overall well-being of our residents. We offer various programs and resources to help individuals and families improve their financial literacy, develop job skills, and access other social services.

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