CHARLOTTE, N.C. (May 31, 2022)– Charlotte City Council has adopted the Fiscal Year (FY) 2023 Budget. FY 2023 for the city begins on July 1, 2022.
Highlights of the adopted FY 2023 budget include:
Additional Budget Highlights
Leverages federal funds and previous council allocations to provide $55 million in additional resources to support affordable housing and staying-in-place initiatives in addition to maintaining the
$50 million investment in affordable housing.
Makes modifications to the House Charlotte Homeownership Assistance Program to meet current market standards, including:
Increases maximum loan amount for households earning 80% AMI and below to $30,000.
Increases the maximum purchase price to $300,000 for existing construction and $315,000 for new construction.
Increases funding for the sidewalk program, from $15 million to $50 million.
Transportation , Planning, and Environment
$4.5 million on city building sustainability, $1.45 million for electric vehicle supply equipment locations and adds 55 fully electric vehicles to the city's fleet.
$48.8 million within the five-year CIP to construct three fire stations, one of which will be the city's first all-electric fire station.
$6.8 million state funding reduction to street resurfacing and adds $3.4 million to the program.
Dedicates $157.3 million towards capital roads and intersection infrastructure projects within the 5-year CIP. FY 2023 includes:
Supports the ADA program with
$209,918 for new positions along with an additional $3.25 million in program funding.
Workforce and Business Development
$1.3 million in direct MWSBE support including $800,000 for a Capital Access Program and CBI Bonding Program.
Uses $30 million from ARPA Tranche 2 for affordable housing initiatives that support strategic partnerships, reduce displacement risk and advance staying in place.
Uses $16 million from ARPA Tranche 2 for community investments that support job and workforce development and minority- and women-owned small businesses.
To learn more about these and other important initiatives of the adopted FY 2023 budget, please visit