Title
Affordable Housing Funds for Cottages of Idlewild in Raleigh, NC
Recommended Action
That the Board of Commissioners approves a loan of up to $910,000 to support the construction of Cottages of Idlewild, a mix of affordable rental and homeownership duplexes to be located in Raleigh, NC.
All funding commitments are subject to terms and conditions acceptable to the County Attorney. In addition, all awards are contingent upon the development receiving local approvals including site plan approval and all necessary permits from the local municipality. All awards are contingent upon the basic terms as identified in the project descriptions, including funding commitments from the financial partners as identified.