Title
Vote on a request to approve the 2023-2024 Housing Trust Fund award recommendations and to authorize the execution of contracts with both Chatham Habitat for Humanity and Rebuilding Together of the Triangle pursuant to the subject award recommendations.
Abstract
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, over $1,000,000 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 and/or preservation of 373 units.
Applications for the Housing Trust Fund are published and released in the Fall of each year. The applications are submitted and reviewed before the end of the calendar year. 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 recommended funding decisions for the Chatham County Board of Commissioners to consider.
The Board of Commissioners is asked to consider the approval of the 2023-2024 Housing Trust Fund Award, as recommended by the Affordable Housing Advisory Committee. Alongside approval of the 2023-2024 Housing Trust Fund award recommendations, the Board of Commissioners is asked to approve execution of the contracts required for Chatham Habitat for Humanity and Rebuilding Together of the Triangle to receive their funds pursuant to AHAC's recommendations. Details on the recommended awards for Chatham Habitat for Humanity and Rebuilding Together of the Triangle can be found in the "Discussion & Analysis" section of this abstract.
Discussion & Analysis:
The 2023-2024 H...
Click here for full text