March 10, 2026Asheville City Council
What it does
Cancels the Stewart Street Cottages loan.
- Passed with the routine items, in one vote, without discussion.
- Why it matters: This recovered $1,052,850 of Housing Trust Fund money after the developer's requested changes did not comply with the fund's policy. The developer kept building two homes, with affordability funded from other sources.
Official title: Rescind the Stewart Street Cottages loan
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilwoman Ullman and carried unanimously.
What was voted on
rescind the $1,052,850 Housing Trust Fund loan previously awarded to Reasonable Development LLC for the Stewart Street Cottages project and return the funds to the Trust Fund's available balance. Adopted as part of the consent agenda, moved by Councilman Hess, seconded by Councilwoman Ullman.
Open the minutesResolution No. 26-44