May 25, 2021Asheville City Council
From the minutes, not yet reviewedWhat it does
Approves the rescission of the Housing Trust Fund loan previously awarded to the Juna Group…
- Passed with the routine items, in one vote, without discussion.
- The money, in the minutes' words: “Action Requested: Request to rescind the Housing Trust Fund award of $1,100,000 as requested by Juna Group Inc.”
More from the minutes
- “The award was to develop eleven, for-sale, affordable homes at Alice Clement Lane.”
- “The developer has since requested to return the Housing Trust Fund award citing the increased price for materials and labors which has made it no longer possible to build and sell to individuals and families at or below 100% Area Median Income (AMI) per the Housing Trust Fund guidelines and remain profitable.”
- “Increasing construction costs are making it difficult for all developers to add affordable housing units.”
Official title: Resolution approving the rescission of the Housing Trust Fund loan previously awarded to the Juna Group and the reallocation of these funds to the Housing Trust Fund balance
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilwoman Kilgore and carried unanimously by roll call vote.
Read the motion as recorded
“RESOLUTION NO. 21-99 - RESOLUTION APPROVING THE RESCISSION OF THE HOUSING TRUST FUND LOAN PREVIOUSLY AWARDED TO THE JUNA GROUP AND THE REALLOCATION OF THESE FUNDS TO THE HOUSING TRUST FUND BALANCE”
Open the minutesConsent agenda, item H