TITLE: Title
Affordable Housing Advisory Commission Funding Recommendation
PURPOSE: The purpose of this item is for the Town Council to consider approving recommended funding for one nonprofit affordable housing application to the Affordable Housing Special Revenue Fund.
body
DEPARTMENT: Housing and Community Services
CONTACT INFORMATION: Rebecca Buzzard, Housing and Community Services Director, rbuzzard@townofcarrboro.org; Anne-Marie Vanaman, Management Specialist, amvanaman@townofcarrboro.org
INFORMATION: On March 5, 2019, the Town Council approved the revised application process for the Affordable Housing Special Revenue Fund.
In the April 1, 2021 application cycle, one (1) request was received and forwarded to the Affordable Housing Advisory Commission (AHAC) for review. This request totaled $15,582.94.
On April 21, 2021, the AHAC heard from the applicant and discussed the request. They voted to make the following funding recommendation for a total of $15,600:
1. EmPOWERment - Recommendation: To Fund $15,600
Requested $15,582.94 to support renovations in 12 of its affordable rental units in Hillmont and Collins Crossing. These renovations will extend the life of the units and reduce water usage. This is the third request for funding for this project. The Town approved funding in April 2020 ($10,000) and October 2020 ($11,000). EmPOWERment faced increased costs for this project due to COVID-related delays and an increase in the cost of materials.
Their recommendation can be found in Attachment B. The funding application can be found in Attachment C.
FISCAL & STAFF IMPACT: This recommended funding allocation will be drawn from the Town’s Affordable Housing Special Revenue Fund. The recommended funding allocation will leave $10,513 in uncommitted funds in the FY20-21 Fund budget.
RECOMMENDATION:r Staff recommends the Town Council consider approving the funding recommendation. A resolution for approval is provided in Attachment A.