Morrisville is launching a new program to help local government employees and teachers afford rental housing, according to Josh Michael, a member of the town’s planning staff.
The three-year pilot program will initially be open only to Town of Morrisville employees, Wake County employees, and teachers and staff in Morrisville schools, Michael said during a presentation to town council members Thursday night. The program offers money to help lower the cost of monthly rent, as well as cover security deposits for people who are moving into Morrisville.
Funding is limited, with only about $150,000 available to applicants each year. Divided equally between the two initiatives, staff expect to be able to offer rental assistance to between five and 12 households annually, and security deposit help to 40 to 50 households annually…