Title
Approve request to re-allocate an additional $52,800 to Rebuilding Together of the Triangle
Abstract
Action Requested: Approve the recommended re-allocation of Housing Trust Fund monies to Rebuilding Together of the Triangle
Introduction & Background:
This recommendation was made in the even that the suggested policy changes to the Housing Trust Fund are approved by the Board of Commissioners. The policy changes allow AHAC moving forward to make recommendations to the board on any additional funds or returned funds to the housing trust fund. The recommendation to re-allocate the amount of $52,800 to Rebuilding Together of the Triangle, was based on their application score overall, as well as the fact that their initial award recommendation was a third of their total request, and over a 1/3 less than their total award last year.
Discussion & Analysis:
Rebuilding Together of the Triangle is a non-profit that focuses on both minor and major rehab projects across Chatham, Orange, Durham, and Wake Counties. Their mission is based on helping preserving homes and revitalizing communities in a way that ensures that low-moderate income homeowners, from the elderly and disabled, to families with children can live in safe and healthy homes. They serve households at or below 65% of the Area Median Income (see table below - based on 2020 numbers).
Rebuilding Together of the Triangle is in the “Rehab/Preservation” Category of the Housing Trust Fund scoring categories. All other applications fell into new construction or housing programs.
In order of highest to lowest here are the scores:
• Wallick Communities - 72 Units - New Construction
o - 98% score - Full Funding recommended conditional on LIHTC
• XDS - The Farm at Penny Lane - Tiny Home - Permanent Supportive Housing
o 94% score - Full Funding recommended
• Third Wave - The Retreat at Pittsboro - 48 units - already in Progress
o Impact Fees - 89% score - Full Funding recommended - This is the award that is being re-allocated. Funding coming from alternative source.
o Request - 89% score - No funding recommended alternative solution / resource was suggested via the reimbursement fee policy.
• Rebuilding Together -
o 76% score - Partial Funding recommended (1/3 of original request of $125,000)
• Habitat for Humanity
o 62% score - Partial Funding Recommended (48% of original request)
• Chatham Housing Authority
o 50% score - no funding recommended.
Rebuilding Together of the Triangle received only a third of their request, however, scored higher than other applicants who received a larger portion of their original request. In addition to their high score, AHAC considered the feasibility of the # of households they proposed to serve (up to 30) and the timeline. The # of units effectively preserved by Rebuilding Together will be completed before any of the new construction units are ready other than the Retreat at Pittsboro which was already in progress and is expected to come online in late summer 2021.
The vote to allocate the $52,800 brings their total award amount to $90,000, which is 72% of their original request of $125,000. This award will be subject to the contract agreement signed this spring, which will be amended in order to have the appropriate reporting requirements in place.
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: None - this is not additional funding, only re-allocated funding.
Recommendation:
Approve request to re-allocate $52,800 to Rebuilding Together of the Triangle