Title
Vote to Approve Recommended Awards from the Housing Trust Fund for Fiscal Year 2026 and Supplementary Loan Funds
Abstract
Introduction & Background: The Housing Trust Fund is the primary vessel for support for development and preservation of affordable housing in Chatham County. Since its inception, the Fund has facilitated the investment of approximately $2,200,000 in new housing construction and rehabilitation of existing owner-occupied housing. In sum, the fund has supported the creation or maintenance of an estimated 450 units.
Applications for new Housing Trust Fund awards were collected from September through October of 2025. Members of the Affordable Housing Advisory Committee reviewed those applications and discussed and evaluated applications at the November meeting. Based on their evaluation, the committee voted to recommend the following grant awards:
* Funding for Preserving Home, Inc. in the amount of $150,000 to provide home repairs, accessibility modifications, and energy efficiency upgrades for low-income residents.
* Funding for Habitat for Humanity of Chatham County in the amount of $150,000 to support development of infrastructure for the Roberts Run townhome development in Pittsboro, which will provide 72 townhomes for purchase by Chatham County residents earning low and moderate incomes.
* Funding for Brick Capital CDC in the amount of $25,000 to support rehabilitation of a single family unit in Goldston, to be held as a rental affordable to Chatham County residents earning low incomes.
The Affordable Housing Advisory Committee also voted to recommend the following loan commitment
* Loan financing for Beacon Management Corporation in the amount of $1 million contingent on their receipt of a 9% Low-Income Housing Tax Credit award for their Redfield Place project in Pittsboro, through which 84 units affordable to households earning low and moderate incomes will be constructed. This loan shall have a term of 20 years at a fixed interes...
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