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23 <br /> AP-38 Project Summary <br /> Project Summary Information <br /> 1 Project Name CASA—Rental Construction <br /> Target Area Hillsborough, NC <br /> Goals Supported Rental Construction <br /> Needs Addressed Housing for Low-and Moderate-Income Households, Housing for <br /> Individuals Exiting Homelessness <br /> Funding Total: $222,120 (includes CHDO Set Aside: $49,547) <br /> Description Funds will be allocated to CASA to finance construction of Cedar Village, <br /> a 72-unit apartment community located in Hillsborough, North Carolina. <br /> The project will consist of three 24-unit residential buildings and one <br /> community building on a 4.37-acre site. There will be 36 one-bedroom <br /> units and 36 two-bedroom units. Of the one-bedroom units, 16 units will <br /> be rented at 30%AMI, 13 units will be rented at 50%AMI (6 of which <br /> will be HOME units), and 7 units will be rented at 60%AMI. Of the two- <br /> bedroom units, 12 units will be rented at 30%AMI, 12 will be rented at <br /> 50%AMI (5 of which will be HOME units), and 12 units will be rented at <br /> 60%AM I. <br /> Total funding for this activity is$222,120. This amount includes: <br /> $167,862.20 in 2024 HOME Entitlement (EN)funds; $12,292.22 in HOME <br /> Program Income (PI)funds; and $41,965.56 in local Match funds.The <br /> total amount of HOME funds, including PI,for this project is$180,154.40 <br /> Target Date 06/2026 <br /> Estimate the number 72 households at or below 80%AMI <br /> and type of families <br /> that will benefit from <br /> the proposed <br /> activities <br /> Location Description 200 Sea Trail St, Hillsborough to Boone Square Shopping Center, <br /> Hillsborough <br /> Planned Activities • Predevelopment costs <br /> • New construction for rental <br /> Annual Action Plan 20 <br /> FY 2024-2025 <br />