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...
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