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6 <br /> Bridge Home to address a Town of Hillsborough request for housing to serve veterans with <br /> disabilities. Cedar Village will be developed as a Low-Income Housing Tax Credit community to <br /> finance the project, allowing CASA to leverage significant private capital and debt with a relatively <br /> small funding commitment from local partners. The site is a part of Collins Ridge, a new market- <br /> rate subdivision developed by DR Horton, which will comprise over nine hundred (900) total <br /> single-family homes, townhomes, and apartments upon completion. <br /> Homestead Horizons (CASA): $733,500 <br /> Community Partners: UNC, Town of Chapel Hill, Self-Help, Community Home Trust and Habitat <br /> for Humanity <br /> The proposal requests funds to develop a thirty-two (32) unit apartment building that will provide <br /> affordable housing for households earning less than 30% of the Area Median Income (AMI). The <br /> project will be funded with the purpose of assisting in the development of the apartment building, <br /> which will be subject to affordability restrictions for at least ninety-nine (99) years. The building <br /> will be managed by UNC Horizons and will be operated as supportive housing for low-income <br /> families with children headed by women in recovery from substance abuse. Homestead Horizons <br /> is part of a larger effort to address the affordable housing crisis in Chapel Hill and will provide <br /> much-needed housing options for low-income families in the area. <br /> Davie Circle (EMPOWERment, Inc.): $500,000 <br /> Community Partner(s): N/A <br /> The proposal requests funds for the acquisition of an existing rental property, which consists of <br /> eight(8)affordable housing units in Chapel Hill, NC. This project is for individuals earning between <br /> 30%-60% of the Area Median Income (AMI). Specifically, the project aims to acquire eight rental <br /> units in a centrally located complex, which offers proximity to the UNC Campus, UNC hospitals, <br /> Franklin Street, and numerous other businesses. EMPOWERment aims to allow low-income <br /> households to reside in Chapel Hill while ensuring long-term affordability. This property is <br /> considered Naturally Occurring Affordable Housing (NOAH) and is currently occupied by seven <br /> (7) families in the targeted AMI range 30%-60%. <br /> Wentworth (EMPOWERment, Inc.): Conveyance of Land for PEACH II <br /> Community Partner(s): N/A <br /> The conveyance of the parcel of land will be used to produce affordable housing in Chapel Hill <br /> catering to populations earning below 60% AMI. This project will be called PEACH II and, similar <br /> to the PEACH Apartments, it will have access to public transportation. The units will be centrally <br /> located, within walking distance to the UNC campus, Hospital, Franklin Street, schools, shopping <br /> and other businesses. <br /> Homestead (EMPOWERment, Inc.): $825,000 <br /> Community Partner(s): N/A <br /> The proposal requests funds for the acquisition of ten (10) single-family homes located off <br /> Homestead Road in Chapel Hill. This project will target people who are earning below 80% AMI. <br /> This is a Naturally Occurring Affordable Housing property (NOAH). All ten (10) households are <br /> currently occupied and, if funded, the occupants will not be displaced. This project will ensure that <br /> communities like this one will remain safe and affordable. In the future, homes that become <br /> available will be occupied by individuals who earn between 30% to 60% of the area median <br /> income (AMI). These homes will remain affordable. EMPOWERment will identify funds to make <br />