Title
Approval of Recommended Funding from the Affordable Housing Special Revenue Fund
PURPOSE: To consider approving the Affordable Housing Advisory Commission's funding recommendation for three nonprofit applications to the Affordable Housing Special Revenue Fund.
end
Department
DEPARTMENT: Housing and Community Services
end
Contact
CONTACT INFORMATION: Anne-Marie Vanaman, Housing and Community Services Director, amvanaman@carrboronc.gov
end
Council Direction
COUNCIL DIRECTION:
_X__ Race/Equity ____ Climate __X__ Comprehensive Plan ____Other
Council Direction Statement
Racial Equity: A full assessment using the Racial Equity Assessment Lens of the Affordable Housing Special Revenue Fund has been completed and reviewed by the Racial Equity Commission. A summary of this assessment as well as the "pocket questions" can be found in Attachment D.
Comprehensive Plan: Chapter 3. Affordable Housing.
Goal 2: Increase the number of rental units that are permanently affordable to very low-income households earning up to 60% of AMI with a particular focus on those earning less than 30% AMI and historically disadvantaged households.
Goal 4: Maintain and improve the quality of Naturally Occurring Affordable Housing (NOAH) and "missing middle" opportunities.
Strategy 5.2: Help extremely low-income households and people experiencing homelessness transition to permanent affordable housing.
end
Information
INFORMATION: In the January 2024 application cycle, three requests were received and forwarded to the Affordable Housing Advisory Commission (AHAC) for review.
On January 17, 2024, the AHAC heard from the applicants, Pee Wee Homes, Rebuilding Together of the Triangle (RTT), and EmPOWERment and discussed their requests.
The AHAC voted to make the following funding recommendations to the Town Council:
Pee Wee Homes - Recommendation: Fully Fund - $51,100
To construct three small homes on the corner of Hill and Broad Streets that will be available...
Click here for full text