Now Accepting Applications to Create Affordable Housing Opportunities
Post Date:10/10/2019 8:43 AM
The Town of Chapel Hill is accepting applications through noon Wednesday, Dec. 4, to create affordable housing opportunities in the community.
Awards will be made from the Town’s Affordable Housing Development Reserve (AHDR), established by the Town Council in March 2015. Since its creation, the Town has supported the development of 286 units of affordable housing with funding from the AHDR. The total funding available this fiscal year in the Affordable Housing Development Reserve is $688,395.
The Town of Chapel Hill will accept applications for the following priority project areas:
Land bank and land acquisition
Rental subsidy and development
Homeownership development and assistance
Future development planning
The Town’s Housing Advisory Board will evaluate applications and present a funding recommendation to the Town Council for final approval in January 2020. There will be up to one additional funding cycle this fiscal year (July 1, 2019–June 30, 2020).
New this year, the Town is rolling out a streamlined application for all local affordable housing funding sources, including the AHDR. The application deadline is 12 p.m. noon Wednesday, Dec. 4, 2019. To access the application and learn more, visit http://bit.ly/2GBEtKV.