Title
Affordable Housing Development Support Requests
Action
Action:
A. Approve $18,918,600 in Housing Trust Fund and Naturally Occurring Affordable Housing Fund allocations for the following multi-family rental affordable housing developments:
* Connelly Creek Apartments, $1,965,600, in Council District 3,
* Dillehay Courts Phase I, $2,000,000, in Council District 1,
* Evoke Living at Arrowood, $2,000,000, in Council District 3,
* Johnston Oehler Seniors, $2,000,000, in Council District 4,
* Mineral Springs Commons, $803,000, in Council District 4,
* Vibrant Eastway Park, $2,000,000, in Council District 1,
* The Park Seniors Apartments, $1,950,000, in Council District 2,
* Statesville Avenue Shelter, $800,000, in Council District 1,
* Windsor Park, $1,400,000 (Housing Trust Fund) and $4,000,000 (Naturally Occurring Affordable Housing), in Council District 1, and
B. Authorize the City Manager and staff to continue working with the developer for the New Brookhill development and Local Initiatives Support Corporation to determine the viability of the proposed New Brookhill development.
Body
Staff Resource(s):
Pamela Wideman, Housing and Neighborhood Services
Miles Vaughn, Housing and Neighborhood Services
Explanation
* Local Initiatives Support Corporation (LISC) Partnership:
- In Fiscal Year 2019, City Council approved a partnership with LISC, a national non-profit with a grassroots focus.
- LISC is one of the largest national community development organizations in the country that supports projects to revitalize communities and bring greater economic opportunity to residents.
- With the addition of the LISC managed private and philanthropic contributions to the Charlotte Housing Opportunity Investment Fund (CHOIF), the cost to the city for creating affordable housing units has been significantly reduced per development. Such partnering enables the city to better leverage city resources.
* Housing Vouchers:
- Last year, the city and LISC entered into ...
Click here for full text