Affordable Housing Expansion Plan

Addressing Louisville’s Housing Crisis

Part of $185M community programs investment

Louisville neighborhood community - Housing for all families

Louisville neighborhoods – Affordable housing for every community

30,000+

Louisville Families Cost-Burdened

$25M

Annual Housing Investment

5,000

New Affordable Units Goal

The Housing Crisis in Louisville

Louisville faces a critical shortage of affordable housing. Over 30,000 families spend more than 50% of their income on rent, leaving little for food, healthcare, and transportation. This plan addresses the crisis through immediate relief and long-term solutions.

Key Statistic: Louisville needs 31,000+ additional affordable units to meet current demand (Louisville Metro Housing Authority, 2023)

Multi-Pronged Approach

🚨 Crisis Interventions ($8M annually)

Emergency rental assistance to prevent evictions – up to 3 months’ rent
Rapid rehousing programs for families experiencing homelessness
Tenant legal aid and advocacy services – free representation in eviction court
Landlord-tenant mediation programs to resolve disputes before eviction
Utility assistance coordination to prevent shutoffs

🏗️ Development Incentives ($10M annually)

Density bonuses for developers who include 20%+ affordable units
Tax abatements (10-15 years) for 100% affordable projects
Streamlined permitting – 60-day fast-track for affordable developments
Land banking program – acquire vacant lots for affordable housing sites
Public-private partnerships with Louisville Metro Housing Authority

🏠 Preservation & Protection ($7M annually)

Acquisition fund to purchase naturally occurring affordable housing before investors
Anti-displacement protections in gentrifying areas (Portland, Smoketown, Russell)
Community land trusts for permanent affordability – homes stay affordable forever
Mobile home park preservation – prevent closures that displace hundreds
Home repair grants for low-income homeowners to prevent deterioration

Implementation Timeline

Year 1: Foundation

Launch emergency rental assistance program
Establish community land trust framework
Begin land banking in priority neighborhoods

Years 2-3: Expansion

First affordable developments break ground
Anti-displacement protections in effect
1,500+ units in pipeline

Year 4: Full Operation

5,000 new affordable units completed or in construction
Eviction rate reduced by 30%
Community land trusts holding 500+ permanently affordable homes