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Affordable Housing Development Reserve

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UPDATE 10/24/18: The Town is currently accepting applications for the Affordable Housing Development Reserve! 

Applications are due by noon Friday, December 21st.

Submissions will be accepted electronically to: housingandcommunity@townofchapelhill.org. 

Funding application is available here

Please see additional information below or contact Sarah Vinas at 919-969-5079 or svinas@townofchapelhill.org.  

Overview

The Affordable Housing Development Reserve (AHDR) is dedicated exclusively to the development and preservation of affordable housing.  The eligible uses of the AHDR align with the strategy statement of the Town’s Affordable Housing Strategy:

The Town of Chapel Hill’s goal is to increase the availability of and access to housing for households and individuals with a range of incomes, from those who are homeless to those in middle-income households. The Town of Chapel Hill will work with for-profit and non-profit housing providers to offer a variety of housing opportunities that will promote socioeconomic diversity; provide individuals with the ability to remain in Chapel Hill through different stages in their lives; and support employee recruitment and retention.

Priority will be given to rental projects that serve households with incomes 60% and below the Area Median Income (AMI) and homeownership projects that serve households with incomes 80% and below the AMI.   

Application Process

  • The funding application is available here
  • Applications for funding will be accepted via electronic submission three times per year (~ every 4 months). 

  • Applicants are invited to participate in an orientation, which will take place around the established submission deadlines. Information about the next orientation will be posted on this webpage, as well as the Events Calendar.

  • Applicants are invited to participate in a one-hour pre-application meeting, during which Town staff will discuss the applicant’s proposed project and answer questions about the application process.To schedule a pre-application meeting, contact Sarah Viñas.

  • The Housing Advisory Board reviews and evaluates applications and provides a recommendation to the Town Council for final review and approval. The evaluation of applications will be based on a scoring rubric.

  • Applicants will be notified via email once a decision has been made regarding their application.

  • Applicants whose application for funding is not awarded are invited to participate in a one-hour post-application meeting during which Town staff will provide feedback and discuss opportunities for strengthening the funding application for consideration in future funding cycles.

Priority Project Areas

  1. Land Bank & Land Acquisition
  2. Rental Subsidy & Development Program
  3. Home Ownership & Development Assistance Program
  4. Future Development Planning

 

For more information about the AHDR, contact Sarah Viñas at 919-969-5079 or svinas@townofchapelhill.org

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