Through the Affordable Housing Development Fund, Haywood County invites qualified public, private and nonprofit organizations to apply for funding to support the new construction or acquisition and rehabilitation of rental or for-sale housing affordable to low- and moderate-income households.
Donor Name: Haywood County
State: North Carolina
County: Haywood County (NC)
Type of Grant: Grant
Size of the Grant: More than $1 million
Grant Duration: Grant Duration Not Mentioned
The objective of this Program is to offer an adaptive model that permits a variety of scenarios where CDBG-DR funding can be awarded to projects that result in the creation of long-term affordable homeownership and rental housing units to Low and Moderate income (LMI) households in Haywood County. This objective will be served through program activities such as the acquisition and conversion, repair, rehabilitation, or development of new affordable homeownership or rental housing, on a single site or on scattered sites, to be used as long-term, affordable homeownership or rental housing for LMI households .
Program priorities include:
- community need and support;
- site location / suitability;
- partner capacity;
- innovative and leveraged approaches to development;
- set-aside of units for extremely low income and very low income households;
- set-aside of units for special needs populations;
- total development cost vs. CDBG-DR share of cost;
- proposed development’s readiness to proceed;
- project’s coordination with local and/or state recovery priorities and climate resiliency efforts.
There is $10,526,000 in CDBG-DR funds allocated to the Affordable Housing Development Fund – Haywood County Program. The maximum amount to be awarded to an individual project is expected to be $3,500,000.
Eligible activities for this Program include:
- acquire, rehabilitate and resell single-family housing for long-term homeownership affordability;
- develop new long-term affordable homeownership housing;
- acquire and convert existing multifamily for affordable rental housing;
- acquire and rehabilitate existing multifamily for affordable rental housing; or
- develop new long-term affordable rental housing
In order for a proposed project to be evaluated, the following threshold requirements must be met:
- The property site submitted for application must be located within Haywood County.
- Proposed activities must be eligible. This will be determined on a case-bycase basis.
- Tie-back to storm / storm impact must be present. Presence of a project in a MID county constitutes storm tie-back for the purposes of this Program.
- Property is not located within the 100-year floodplain, or floodplain designation is peripheral and distinct from the location of any planned development activity for the project.
- Site control through ownership or option to purchase.
- Commitments for all other funding sources necessary to complete the proposed project are required to be identified as either applied for but not yet secured or awarded / secured.
- Rental projects must have rent and occupancy requirements that ensure that at least 51% of the units are affordable to and occupied by LMI households. The rents of these Program Assisted units are established annually by HUD and are meant to reflect rental payments plus an allowance for utilities. If the project is using Low Income Housing Tax Credit (LIHTC) funding, the 60% Area Median Income (AMI) affordability requirement will meet NCORR affordability as long as no units exceed the 80% AMI limit.
- Homeownership development projects must also comply with AMI limits for end-user homeowners and occupancy for the affordability term. One hundred percent of homeownership units must be affordable to households earning 80% or less of Haywood County’s AMI.
Haywood County will solicit projects from qualified non-profit, for-profit, and government agencies which can include property management organizations, developers, Community Housing Development Organizations (CHDOs), Community-Based Development Organizations (CBDOs), and/or any other partnerships comprised of any of the above.
For more information, visit Haywood County.