Title
Vote on a request to Approve the 2021-2022 Housing Trust Fund Award Recommendations
Abstract
Action Requested: Approve the recommended awards for the 2021-2022 Housing Trust Fund Award Cycle
Introduction & Background:
The Housing Trust Fund was created in 2018 by the Chatham County Board of Commissioners to support the creation and preservation of affordable housing. Since its inception, $600,000 has been invested in proposals ranging from new construction of tax credit properties, supportive housing, land acquisition, and extensive home repairs. The fund has invested in the creation of 162 units, 90 of which are currently online. The remaining 72 units (not counting the ones that will be created with this cycle), will come online in 2023.
Each year in the fall, applications for the Housing Trust Fund are published and released at the end of August. The applications are due in October. From there, staff compiles all applications and releases them to the members of the Affordable Housing Advisory Committee (AHAC) who review, discuss, and evaluate the applications based on scoring criteria applicable to the type of application (new construction or preservation). The advisory committee scores each application, discusses, and votes on recommends funding decisions for the Chatham County Board of Commissioners to consider.
Discussion & Analysis:
The 2021-2022 Housing Trust Fund Cycle received four applications totaling over $450,000 in requests. The Chatham County Affordable Housing Advisory Committee (AHAC) evaluated the applications using new construction criteria for those projects and rehab/preservation scoring criteria for the rehab and preservation proposals. Criteria and applications opened at the end of August 2021 and were due October 16, 2021.
After reviewing and discussing these applications beginning on October 16, 2021, through December 2, 2021, the members of the Chatham Affordable Housing Advisory Committee came voted unanimously on the following recommendations:
• Chatham Habitat for Humanity applied for new construction acquisition support for land in Goldston for their Pinecrest Drive Community
Recommendation:
o Full Funding - $75,000
o Total Units/Lots - 8
• Rebuilding Together of the Triangle applied for Rehab and Preservation funds to create a program called “Emergency Critical Home Repairs for Vulnerable Chatham Households in Need”
Recommendation:
o Full Funding - $100,000
o Total units/households - 50
• Wallick Communities Inc. applied for New Construction funding for infrastructure construction support for the Oak View development in Siler City.
Recommendation:
o Deferral
The applicant is awaiting additional information that will impact the nature and total of their construction cost request. AHAC will revisit their request at the beginning of 2022.
o Total Units - 72 (not to be double counted - project originally founded in 2020-2021, and selected for tax credits in August 2021)
• The Chatham Housing Authority submitted a request for funding for a feasibility study for developing affordable housing.
Recommendation
o No Funding
How does this relate to the Comprehensive Plan?
Goal 9: Provide equitable access to high quality education, housing and community options for all.
Goal 10: Foster a health community
Budgetary Impact: $175,000 from the Chatham Housing Trust Fund
Recommendation:
Approve the recommended awards for the 2021-2022 Housing Trust Fund Award Cycle