Title
Receive a presentation and vote to approve the 2024-2025 Housing Trust Fund recommendation from the Affordable Housing Advisory Committee, which includes a recommendation to award $150,000 to Rebuilding Together of the Triangle, the authorization to initiate a second round of the Housing Trust Fund process, and the establishment of a Strategic Housing Effort in the amount of $10,000 with the use of a portion of the remaining 2024-2025 Housing Trust Fund allocation
Abstract
Introduction & Background: The Housing Trust Fund supports the development and preservation of affordable housing in Chatham County. Since its inception, the Fund has facilitated the investment of $1,900,000 in new housing construction and rehabilitation of existing owner-occupied housing. In sum, the fund has supported the creation or maintenance of an estimated 400 units.
Applications for new Housing Trust Fund awards were collected from September through November of 2024. Members of the Affordable Housing Advisory Committee reviewed those applications and discussed and evaluated applications at the December meeting. Based on their evaluation, the committee voted to recommend the following:
* Funding for Rebuilding Together of the Triangle in the amount of $150,000 to provide home repairs, accessibility modifications, and energy efficiency upgrades for low-income residents.
* Approve the use of $10,000 in unawarded Housing Trust Fund balance for housing-related research and community partnership efforts under the oversight of the Affordable Housing Advisory Committee through a Strategic Housing Efforts Account.
* Authorize another application period for awards from the Housing Trust Fund to distribute the remaining funds, totaling $140,000, including opportunities for applicants who were not selected to reapply and to solicit applications from new interested parties. This application period will be initiated on or before February 28, 2025, and conclude on or before April 30, 2025.
...
Click here for full text