The Historic West End, located northwest of downtown Charlotte, is a storied African-American middle-class neighborhood. Charlotte Center City Partners, in an effort to promote community stability and mitigate the risk of displacement caused by the gentrification of the Historic West End, procured APD Urban Planning & Management to explore the possible implementation of a Community Stabilization Program that examines avenues to address the displacement of homeowners.
The study includes strategies that would reduce the property tax burden on vulnerable homeowners within the designated Historic West End Study Area, including the possible implementation of a Community Stabilization Program that would limit future property tax increases for area homeowners. In order to both test the feasibility of a program and lay out the scope of the problem, three potential program models were tested using homeowner population, income, age, length of occupancy, historic neighborhood valuations, and assessment data. Property value growth projections were used to demonstrate the estimated growth of the potential program cost over a twenty-year lifespan. Finally, costs were formulated based on estimated program participation, eligibility criteria, and projected market conditions.
- Comprehensive existing conditions analysis
- Existing and future tax burdens and the risk to homeowners of rapid property appreciation.
- Recommendations for effective policies to target homeowner populations most in need of displacement mitigation
- Recommended program eligibility design
- Recommended program administration, cost, funding source, and evaluation tools
- Recommended supplemental or supportive policies or tools to complement the program