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American Recovery Plan Act (ARPA) Fund Reallocation
PURPOSE: This agenda item seeks Town Council approval to reallocate funds within the ARPA fund for two proposals from affordable housing nonprofit providers, maintenance and repair of recreation facilities and bolster the program providing financial assistance to qualified Carrboro residents.
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Department
DEPARTMENT: Finance
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Contact
CONTACT INFORMATION: Wendy Welsh, Grants Manager, 919.918.7302, wwelsh@carrboronc.gov, Bret Greene, Finance Director 919.918.7439 bgreene@carrboronc.gov
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Council Direction
COUNCIL DIRECTION:
_X_ Race/Equity ____ Climate __X__ Comprehensive Plan ____Other
Council Direction Statement
The Town Council approved ARPA funding for race and equity initiatives, housing and community services, and recreation projects on October 11, 2022 - Grant Ordinance #4 Fiscal Year 2022-2023.
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Information
INFORMATION:
Housing and Community Service
Affordable Housing Units
The Town issued a Request for Proposals (RFP) on July 2, 2023, for impactful affordable housing projects that would increase the number of affordable housing units in Carrboro. Staff received two submissions from nonprofit affordable housing providers:
EmPOWERment - $600,000 to preserve 10 existing rental units that are considered naturally occurring affordable housing (NOAH).
Habitat for Humanity - $1M to support pre-development costs for a community of approximately 75 units for ownership.
Proposals were reviewed by staff and the Affordable Housing Advisory Commission. See Agenda Item 24-087 for a comparison of the projects and copies of the funding proposals. The combined total of the requests is $1.6M.
A proposed funding scenario to support both projects is provided in Attachment D. Staff are requesting to reallocate the remaining HCS funds in the Emergency Housing Assistance and OWASA Water Bill Debt to the Affordable Housing Unit line item. The $150,000 allocated to the Economic Develo...
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