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21 <br /> Town of Chapel Hill <br /> Prepared by Housing and Community Staff 12.6.18 <br /> Description: Funds could be used to purchase property to be used to create new or <br /> preserve existing affordable housing. Examples of eligible activities include property <br /> acquisition and associated program expenses. <br /> Related Strategies and Goals: <br /> ■ Acquire and preserve vacant land along transit corridors for future affordable <br /> development. (ARHS) <br /> ■ Address the development pressures of the Pine Knolls and Northside neighborhoods by <br /> supporting a housing and cultural preservation program in the neighborhoods. (ARHS) <br /> ■ Support the reuse and redevelopment of property that can be developed into affordable <br /> housing (AHS) <br /> ■ Purchase properties for affordable housing providers (CP) <br /> 2. Home Repairs and Comprehensive Rehabilitation <br /> Description: Funds would be used to provide minor or major rehabilitation to existing <br /> homes in the community. We would work with our housing provider partners to identify <br /> properties for assistance. <br /> Related Strategies and Goals: <br /> ■ Address the development pressures of the Pine Knolls and Northside neighborhoods by <br /> supporting a housing preservation program in the neighborhoods. (AHS) <br /> ■ Major and minor rehabilitation of existing housing. (CP) <br /> ■ Support the ability for senior citizens to age-in-place or transition to affordable housing <br /> within the community (AHS) <br /> 3. Construction of New Affordable Housing Units <br /> Description: Eligible projects will support the development of housing opportunities to <br /> create and preserve affordable housing for households earning up to 120% of the AMI. <br /> Priority will be given to projects serving households with incomes below 60%AMI. Eligible <br /> activities would include pre-development costs, professional services and construction <br /> costs. <br /> Related Strategies and Goals: <br /> ■ Focus on the development of affordable rental housing including studio units, <br /> supportive housing units, universal access units, and units for families (AHS) <br /> ■ Explore redevelopment of park and ride lots, underused open space, and other "found" <br /> land. (ARHS) <br /> ■ Explore the feasibility of development of new public housing units. (ARHS) <br />