Title
Affordable Housing Development Support Requests
Action
Action:
A. Approve up to $20,867,000 in Housing Trust Fund allocations for the following affordable housing developments contingent upon their receiving a Low-Income Housing Tax Credit award from the North Carolina Housing Finance Agency, where applicable:
- The Village at Grier Heights, $2,763,000 (nine percent Low-Income Housing Tax Credit) in Council District 1,
- Oak Valley Family, $1,500,000 (four percent Low-Income Housing Tax Credit) in Council District 1,
- Mineral Springs Commons II, $1,100,000 (nine percent Low-Income Housing Tax Credit) in Council District 4,
- Evoke Living at Wilora Lake, $5,850,000 (four percent Low-Income Housing Tax Credit) in Council District 5,
- Billingsley Homeownership, $1,050,000 (Homeownership) in Council District 1,
- Oakdale Road, $2,930,000 (Homeownership) in Council District 2,
- Legacy at Paw Creek, $1,334,000 (Homeownership) in Council District 2,
- Hovis Road, $780,000 (Homeownership) in Council District 2,
- South Crigler Duets, $360,000 (Homeownership) in Council District 2,
- Aveline at Prosperity Church, $800,000 (Homeownership) in Council District 4,
- Zion Hills, $1,000,000 (Homeownership) in Council District 5,
- Wisteria Drive, $1,400,000 (Homeownership) in Council District 6,
B. Approve up to $300,000 in federal fund allocations for The Village at Grier Heights nine percent Low-Income Housing Tax Credit multi-family affordable housing development in Council District 1, and
C. Authorize the City Manager or his designee to execute, amend, modify, and renew contracts and other required documents to complete the transactions.
Body
Staff Resource(s):
Rebecca Hefner, Housing and Neighborhood Services
Warren Wooten, Housing and Neighborhood Services
Michael Englehart, Housing and Neighborhood Services
Explanation
§ On December 4, 2025, the city issued a Housing Development Funding Request for Proposals (RFP) to aid in the production of affordable housing units. This is the third RFP since Council’s adoption of the Affordable Housing Funding Policy.
§ In response to the RFP, 18 proposals were received seeking various types of gap financing support including nine percent and four percent tax credits from the North Carolina Housing Finance Agency (NCHFA). Two of the proposals were subsequently withdrawn by the developers.
§ Approval of the recommended funding allocations will add 479 affordable and workforce rental housing units,= and 214 affordable homeownership units to the city’s existing supply.
§ The recommended developments meet all submission requirements, including land use and rezoning approvals where applicable. Additionally, the evaluation process included assessing the proposals for alignment with Council policies, goals, and priorities including the Affordable Housing Funding Policy, ensuring developer experience, achieving long-term affordability, creating mixed-income opportunities in areas of opportunity, and maximizing the leverage of available resources.
§ The NCHFA will base their final tax credit awards on variables such as market demand and local housing needs, ability to serve qualified residents for the longest affordability period, design and quality of construction, and financial structure and long-term viability.
City Council Discussion
§ The Housing Committee received a briefing at its April 6, 2026, Committee meeting.
§ City Council received staff funding recommendations including Housing Trust Fund allocations at their April 13, 2026, Business Meeting.
Charlotte Business INClusion
All Housing Trust Fund funded housing projects and their developers are subject to MWSBE goals determined based on the amount of city funding allocation received.
Fiscal Note
Funding: Housing Trust Fund and Federal Funding Allocations
Attachments
Attachment(s)
April 13, 2026, Council Presentation