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22 <br /> Town of Chapel Hill <br /> Prepared by Housing and Community Staff 12.6.18 <br /> Funding Threshold Requirements <br /> In order to for applications to be considered for funding, applicants must meet the minimum threshold <br /> requirements outlined below: <br /> ■ The proposed projects includes at least_affordable housing units <br /> ■ The proposed project must be completed within 3 years of the date funding is awarded <br /> ■ The applicant must demonstrate site control (if applicable) <br /> ■ The proposed project site must be located within the Town of Chapel Hill city limits or the Extra <br /> Territorial Jurisdiction (ETJ) <br /> ■ The proposed project must falls within one of the priority project areas identified by the Town <br /> ■ The funding application is complete and submitted by the established deadlines <br /> Funding Allocation Process <br /> ■ Applicants to the Affordable Housing Bond will use the Town's Common Application for <br /> affordable housing projects, which is used for all of the Town's local affordable housing <br /> funding sources (Affordable Housing Fund, Affordable Housing Development Reserve, and <br /> Affordable Housing Bond). The funding application is available here (LINK). <br /> ■ Applications for funding will be accepted via electronic submission, with the first Request <br /> for Proposals anticipated in the winter of 2019. <br /> ■ Applicants are invited to participate in an orientation, which will take place in advance of <br /> the established submission deadlines. <br /> ■ Applicants are invited to participate in a pre-application meeting, during which Town staff <br /> will answer questions general questions about the applicant's proposed project and the <br /> application process. To schedule a pre-application meeting, contact Sarah Vinas. <br /> ■ The Town's Housing Advisory Board reviews and evaluates applications and provides a <br /> recommendation to the Town Council for final review and approval. The evaluation of <br /> applications will be based on a scoring rubric. <br /> ■ Applicants will be invited to attend the Town Council Meeting during which the Housing <br /> Advisory Board's recommendation for funding will be presented for Council consideration. <br /> Applicants may be asked to answer questions <br /> ■ Applicants will be notified via email once Council has made a decision regarding their <br /> application. <br /> ■ Applicants whose application for funding is not approved by the Town Council are invited to <br /> participate in a post-application meeting during which Town staff will provide feedback and <br /> discuss opportunities for strengthening the funding application. <br />