April 25, 2023Asheville City Council
What it does
Allocates $4.39M from the Housing Trust Fund to four projects.
- Passed. Everyone present voted yes.
- Why it matters: This set the city's housing dollars for one funding round: four projects, 239 planned income-restricted homes. Approval is not delivery: two of the four awards were later taken back, Deaverview's grant in 2024 and Stewart Street's loan in 2026.
Official title: Allocate $4.39M from the Housing Trust Fund to four projects
Carried unanimously
From the minutes: This motion was seconded by Vice-Mayor Kilgore and carried unanimously.
What was voted on
approve $4,387,850 in Housing Trust Fund allocations for four development projects expected to produce 239 income-restricted homes, with Reimagining Deaverview structured as a grant rather than a loan, and continue negotiations for Oak Hill Cottages. Motion by Councilwoman Mosley, seconded by then-Vice-Mayor Kilgore.
Open the minutesResolution No. 23-92