October 22, 2024Asheville City Council
From the minutes, not yet reviewedCouncil moves $1,465,000 set aside for Deaverview housing to Helene home repair grants.
The Housing Authority's Reimagining Deaverview project will not be built as planned. Council takes back the $1,465,000 in housing bond money and $1,035,000 from the Housing Trust Fund awarded to it. The bond money will now pay for home repairs. It is for low- to moderate-income homeowners, with priority for Helene damage.
Watch this item, at 28:15(time from the video's captions)- Passed. Everyone present voted yes.
What this changes: The $1,035,000 goes back into the Housing Trust Fund. The next round of applications for its loans opens in December 2024, with awards in spring 2025.
Still pending: The City Manager still has to approve which partner groups get the repair money.
What that means
- Bonds:
- Bonds are loans the City pays back over many years, with interest.
Official title: Council adopted a resolution to authorize the rescission of the $1,035,000 Housing Trust Fund allocation and the $1,465,000 Affordable Housing Bond funds previously awarded to the Housing Authority of the City of Asheville for the Reimagining Deaverview project, and reallocate the $1,035,000 to the Housing Trust Fund balance and $1,465,000 to home repair grants; and authorized City Manager to approve the allocation of Bond funds for Home Repair Grants to partner organizations and to execute any and all documents necessary to give effect
Carried unanimously
From the minutes: This motion was seconded by Councilwoman Ullman and carried unanimously.
Read the motion as recorded
“Councilwoman Turner moved to adopt a resolution to authorize the rescission of the $1,035,000 Housing Trust Fund allocation and the $1,465,000 Affordable Housing Bond funds previously awarded to the Housing Authority of the City of Asheville for the Reimagining Deaverview project, and reallocate the $1,035,000 to the Housing Trust Fund balance and $1,465,000 to home repair grants; and authorize City Manager to approve the allocation of Bond funds for Home Repair Grants to partner organizations and to execute any and all documents necessary to give effect.”
Open the minutesMotion text in the minutes