Town Increases Affordable Housing Funding
Now Accepting Applications
|This is a Habitat for Humanity home built in the Northside Neighborhood and purchased by a low-income family earlier this year.|
The Town of Chapel Hill is accepting applications to create affordable housing opportunities in the community through Friday, Sept. 1.
Awards will be made from the Town’s Affordable Housing Development Reserve (AHDR), established by the Town Council in March 2015. The total funds currently available in the reserve are $1,164,642.
The Town of Chapel Hill will accept applications for the following priority project areas:
1. land bank and land acquisition
2. rental subsidy and development
3. homeownership development and assistance
4. future development planning
The Town’s fiscal year 2018 budget includes $1.16 million in funding available in the Affordable Housing Development Reserve, which represents a 69 percent increase over last year’s allocation of approximately $688,000. The Town’s total budget for FY18 for affordable housing activities is $5.7 million, which supports the Town’s 300+ public housing units and local and federal grant programs.
Since its creation in 2015, the AHDR has supported the development and preservation of 50 affordable housing units in Chapel Hill, with an additional 89 units in the pipeline over the next year.
The Housing Advisory Board will evaluate applications and present a funding recommendation to the Town Council for final approval in October 2017. There may be up to two additional funding cycles this fiscal year (July 1, 2017 – June 30, 2018).
Applications and additional information is available at http://www.townofchapelhill.org/town-hall/departments-services/housing-and-community/funding/affordable-housing-development-reserve.
For assistance and information, contact Sarah Vinas at 919-969-5079 or email@example.com.