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 affordabl...
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