Some residents who didn’t qualify for Community Home Trust funding will have a better chance after Tuesday’s Board of Alderman meeting.
Aldermen approved an amendment presented by the Community Home Trust that will allow up to 25 percent of affordable housing units to be sold to families whose income is greater than 80 percent of the area’s median income.
With the new rules, the Community Home Trust can further subsidize lower-income homes while charging higher prices for those receiving higher incomes.
Currently the Community Home Trust requires about $3,500 per unit in subsidies.
“However, if we sell to people above 80 percent, we won’t need any subsidy,” said Robert Dowling, director of Community Home Trust.
Dowling said that the HOME funds that they use in Carrboro come from the federal government and that subsidies cannot be used for those earning over 80 percent of the average median income.
Notable:
The Carrboro Board of Aldermen also approved a request by the Community Home Trust to allow two of the affordable homes in the Ballentine subdivision to be sold to buyers earning between 100 and 115 percent of the area median income and for an expedited amendment review process.
The Carrboro Board of Aldermen also set and April 24 public hearing date for a petition submitted by Parker Louis, LLC for rezoning of the south side of the Claremont subdivision’s property.
Planning Administrator Patricia McGuire said that the staff recommended the date to be May 22, but Aldermen had concerns with the date.
“I’d like to see this scheduled as soon as we can,” said board member Jackie Gist. “It’s been a while since anything’s been built around here and people are waiting for work.“
The board also added a seat to the Carrboro Arts commission for a Chapel Hill member, because Chapel Hill already includes a Carrboro member on its commission.
Quotable:
“This would allow the home trust to serve a broader buyer base,” Christina Moon, who is in the planning department, said of the expanded Community Home Trust income qualifications.
“It is very important to have a permanent member from Chapel Hill,” Gist said of adding a seat on the Arts Commission.
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