Title
Second Round 2026 Affordable Housing Development Program (AHDP) Affordable Multifamily Development Loans
Recommended Action
That the Board of Commissioners:
1. Approves the following loan recommendations:
1. $664,000 in additional gap financing for Fisher Grove in Raleigh, NC
2. $300,000 in additional gap financing for The Preserve at Gresham Lake in Raleigh, NC
2. Authorizes the County Manager to execute necessary loan and regulatory documents for approved projects.
All funding commitments are subject to terms and conditions acceptable to the County Attorney. Awards are also contingent upon the development receiving local approvals including site plan approval, all necessary permits from the local municipality and an award of tax credits from the North Carolina Housing Finance Agency (NCHFA). All awards are contingent upon the basic terms as identified in the project descriptions, including funding commitments from the financial partners as identified.