June 22, 2021Asheville City Council
From the minutes, not yet reviewedCouncil adopts the updated Land Use Incentive Grant Policy.
Council voted to adopt the updated Land Use Incentive Grant Policy.
- Passed. Everyone present voted yes.
- Who it's for: Households earning up to 80% of the area median income: up to $81,920 a year for a family of four, or $57,360 for one person (HUD's 2026 income limits for tax-credit housing in the Asheville area).
More from the minutes
- “In November of 2010, City Council first adopted a Land Use Incentive Policy that provided incentives to encourage development projects that fulfill important public purposes directly addressing annual strategic goals set by Council such as affordable housing.”
- “Allow a LUIG for partner developers who purchase an existing market rate building and would like to add at least 20% of the units, for individuals and families at or below 80% Area Median Income (AMI), for a minimum of 20 years.”
- “25 pts. for converting at least 20% of the units, within 2 years, for individuals and families at or below 80% Area Median Income (AMI), for a minimum of 20 years.”
Official title: Council adopted the updated Land Use Incentive Grant Policy
Carried unanimously
From the minutes: This motion was seconded by Councilwoman Kilgore and carried unanimously.
Read the motion as recorded
“Councilwoman Turner moved for the adoption of the updated Land Use Incentive Grant Policy.”
Open the minutesMotion text in the minutes