March 26, 2019Asheville City Council
From the minutes, not yet reviewedWhat it does
Lets the City Manager negotiate and enter into a grant agreement with the Housing Authority of the City of Asheville.
- Passed. Everyone present voted yes.
- Who it's for: Households earning up to 60% of the area median income: up to $61,440 a year for a family of four, or $43,020 for one person (HUD's 2026 income limits for tax-credit housing in the Asheville area).
- The money, in the minutes' words: “The total project cost is estimated at approximately $39.7 Million, and the project will be funded through a combination of 4% Low Income Housing Tax Credit (LIHTC) funds, HUD Funds, Housing Authority Funds, Buncombe County grant funds in the amount of $4.2 million and City grant funds in the amount of $4.2 million.”
More from the minutes
- “The Lee Walker Heights Redevelopment will replace the existing 96 public housing units with 212 new affordable mixed-income units serving families earning between 10% and 60% of Area Median Income (AMI).”
- “Affordable Housing Advisory Committee - February 7, 2019”
- “Aligns with the purpose of GO Housing Bonds in making improvements to a City identified “High Impact Site: and in other ways, and will show progress on Affordable Housing Bond Projects.”
Official title: Council authorized the City Manager to negotiate and enter into a grant agreement with the Housing Authority of the City of Asheville in the amount of $4.2 million according to the terms and conditions described in the Staff Report and Resolution
Carried unanimously
From the minutes: This motion was seconded by Councilwoman Mayfield and carried unanimously.
Read the motion as recorded
“Vice-Mayor Wisler moved to authorize the City Manager to negotiate and enter into a grant agreement with the Housing Authority of the City of Asheville in the amount of $4.2 million according to the terms and conditions described in the Staff Report and Resolution.”
Open the minutesMotion text in the minutes