Title
FY 2018-II Housing Funding Support Requests
Action
Action:
A. Approve a waiver of the Housing Locational Policy for five multi-family housing developments:
? 924 West Sugar Creek located at 924 West Sugar Creek Road,
? Abbington on Mount Holly located at 3230 Mount Holly-Huntersville Road,
? Mineral Springs Apartments located at 1734 Mineral Springs Road,
? Springbrook Apartment Homes located at 2110 Alleghany Street,
? Sugar Creek Greene located at 6130 Bisaner Street,
B. Approve the Housing and Neighborhood Development Committee's recommendation of Housing Trust Fund allocations for the following multi-family developments for a total of $ 14,365,000:
? Bingham Park, $ 775,000,
? Guardian Angel Villa, $ 1,750,000,
? Mineral Springs, $ 1,550,000,
? Nevin Road Apartments, $ 1,150,000,
? Nolley Court Seniors, $ 2,100,000,
? Northlake Seniors, $1,500,000,
? Rivergate Greene, $1,900,000,
? Sugar Creek Greene, $1,840,000,
? The Park Seniors, $1,800,000, and
C. Approve the Housing and Neighborhood Development Committee's recommendation of Housing Trust Fund allocations for the following 4% multi-family developments for a total of $9,524,000:
? 924 West Sugar Creek, $5,300,000,
? Brookshire Boulevard, $4,224,000.
Body
Staff Resource(s):
Pamela Wideman, Housing and Neighborhood Services
Miles Vaughn, Housing and Neighborhood Services
Explanation
* On October 3, 2016, City Council issued a Community Letter stating a goal of creating 5,000 affordable and workforce housing units within three years. City Council has accomplished 68 percent of this goal. Approval of this funding supports the Council's commitment to expand the supply of diverse price point housing goals.
* On November 26, 2001, City Council established the Housing Trust Fund (HTF) to provide financing for diverse price point housing in the Charlotte community.
* On May 8, 2017, City Council adopted the U.S. Department of Housing and Urban Development's Annual Action Plan (Plan). The Plan:
* Ide...
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