|Hagan announces Triangle cities' affordable housing grants|
|Published Thursday, July 3, 2014|
Roughly 48,000 North Carolinians are living in shelters or homes without adequate amenities such as plumbing, according to research data on nchousing.org.
More than 40 percent of renters have to spend more than 30 percent of their income on rent.
In response to the need for affordable housing, Senator Kay Hagan announced that Chapel Hill, Durham and Roxboro will receive $1.45 million in affordable housing grants from the Federal Home Loan Bank of Atlanta to build or reconstruct 169 rental units in the three communities.
“One of the toughest challenges that our communities face today is ensuring that all North Carolinians have a safe and affordable place to call home,” Hagan said. “This funding will help spur economic development, create jobs, and strengthen communities in Chapel Hill, Durham and Roxboro, improving the quality of life for North Carolina families.”
The Community House Men’s Transitional Housing in Chapel Hill, sponsored by the Inter-Faith Council for Social Service, will receive $500,000. The agency will finance the construction of transitional and shelter housing for local homeless men. The project is a relocation of existing emergency shelter housing that is currently “inadequate to accommodate the needs of the target population.”
New Beginnings Building in Durham, sponsored by the Durham Rescue Missions Ministries, will receive $450,000 for the renovation of a three-story, 40 rental-unit building for homeless residents. Work will include windows, doors, bathrooms and HVAC systems.
Windridge Apartments in Roxboro will receive the remaining $500,000 for the construction of a new 60-unit community for low-income families. The community will feature three three-story buildings with 42 two-bedroom units and 18 three-bedroom units.
“FHLBank Atlanta awards Affordable Housing Program funds annually through a competitive application process,” said Meredith Moses, senior communications manager. “AHP Competitive applications are scored according to criteria such as the level that projects target very low-, low- and moderate-income households, and project readiness. Applications with the highest scores are awarded AHP funding in the form of direct subsidies (grants) or subsidized loans. The maximum direct subsidy per project is $500,000.”
North Carolina received a total of $5.4 million in funds through FHLBank Atlanta’s Affordable Housing Program. These funds will build, improve or preserve 626 affordable rental units across the state.
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