[Music] Heat. Heat. Heat. Heat. [Music] [Music] [Music] [Music] [Music] [Music] Heat. Heat. [Music] [Music] ready to go live. I got too much. Hey, cuz you know I'm ready to dig. I told you he pro Tim. He know me. I said he back there eating. Hey doc. Okay. Good evening. Good evening. I'd like to call the Charlotte City Council meeting into order and welcome everyone to the April 14th, 2025 Charlotte City Council business meeting for this evening. Um, we are having a little bit of a change for this evening. We will be hosting the full meeting in this room and space. And there's signs out there. If you've told someone to go downstairs, you know, text them and say, "Come on upstairs to 267." and everybody knows what that word means for us. So, thank you very much. We're going to begin our um meeting with introductions. And I would like to ask if we could start with our city clerk, Stephanie Kelly, city clerk. Anthony Fox, interim city attorney. Uh James Mitchell. I'm still on the make five fraternity row. Dante Anderson, mayor, prom, district 1. Val, mayor. Marcus Jones, city manager. Malcolm Graham, District 2. Edriggs, District 7. Dar 6. All right. Good evening. I'm Victoria Watlington. I represent you at large. Indeed. Okay. No, you have to stay here. No, I'm just joking. Go ahead. Um, I wanted to um recognize Mr. Bari. I would like to acknowledge the receipt of your resignation from this council effective April 20th, 2025. Thank you for your dedication and service for the past 7 and a half years, not only to your district, but to all of our city. At this time, I want to yield to you the floor for any remarks that you would like to have or comments that you would like to have and to share with us. Well, thank you. You haven't yielded the floor many times to me in 7 and 1/2 years, but every time you did, it was magical. Um, I was a lot longer winded when I started this 7 and 1/2 years ago. Something has beating it out of me, but we've been through a lot of very rough times and we've been through a lot of really great victories and times together. So, I'll just say, um, it has been the honor of a lifetime. Uh, I will continue to to to do everything I can to support Charlotte and the city we all love and support you all and and everything that um that you're working on. And again, you know, we leave the rules of procedure behind everyone focus in on these and um and and you know, it's just yeah, it's bittersweet. It's it's been a long time. We've done a lot. It's been rocky at times, but this has just been a quite the experience of a lifetime. And I would just say the only thing I ask is that every year you select the right person to read the mech deck proclamation who will do it in the traditional charlatan voice that I I have tried to do every year for seven and a half years and uh and I'm sure we won't have seen the last of each other. Thank you. Well, thank you very much. So now we'll go into our invocation. Maybe we can pray for Clark Tark as well. Miss Watlington, we are recognized. Thank you, madam man. Oh, heavenly father, thank you for today, Lord. Thank you, God, that even as we experience weather changes, we recognize a change in seasons, Lord. And so as we continue to do the work of this city, I pray for our wisdom. I pray for our unity. Um I pray that we keep a heart with the people to understand uh the community and their needs. Um Lord, as Tara goes, I I just plead the blood of Jesus over him, God. And I ask that he continues to move forward, Lord, with a spirit of love, with a spirit of wisdom, Lord, and integrity, God. That he continues to represent this community in addition to all of his other responsibilities, Lord. But we ask that you protect him and his family in this new season. And that you give him grace and mercy, God. And that you allow him to walk well in his new position, God, because we know that when you are diligent in your craft, you stand among kings, God. And so we ask for courage for Tar as he goes. And we pray his good success in Jesus name. Amen. Amen. Thank you. That was really, really well done. Really? Um, we before we consider our consent agenda, we have a few proclamations. Are we doing the pledge? Did we pledge? Oh, the pledge. Where is Oh, there's the flag. Sorry. Upstairs. All right. Yes. Let us do pledge of our allegiance to All right. Is everybody ready? I pledge allegiance to the flag of the United States of America and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all. Thank you, Ed, for the reminder. So, we have a few proclamations that we'd like to um have addressed. And so, the first one I'd like to um ask Mr. Driggs to address this population followed by um I guess Dante our mayor prom. Yes, Mr. Driggs. This is a proclamation for autism awareness month. Whereas April is nationally recognized as autism awareness month, a time to increase public awareness, promote acceptance, and ignite change in the way individuals with autism are perceived and supported. And whereas according to the Centers for Disease Control and Prevention, approximately 1 in 36 children are diagnosed with autism spectrum disorder ASD, affecting individuals of all backgrounds and communities across the nation, including Charlotte. And whereas as individuals with autism contribute to the richness and diversity of our community and deserve equitable access to education, employment, health care, and opportunities for meaningful connection. And whereas early intervention, inclusive education, and community-based support can lead to significantly improved outcomes and quality of life for individuals on the autism spectrum and their families. And whereas Autism Awareness Month provides a valuable opportunity to celebrate the achievements and talents of people with autism, raise awareness of the challenges they face, and encourage policies and practices that promote acceptance and inclusion. And whereas the city of Charlotte is committed to creating a community where neurodeivergent individuals are recognized, valued, and empowered to reach their fullest potential. And whereas residents, organizations, schools, and businesses are encouraged to take part in activities and conversations that foster greater understanding and stronger support for the autism community. Now, therefore, she Alexander Lyles, Mayor of Charlotte, does hereby proclaim April 2025 as autism awareness month in Charlotte and commend its observance to all citizens. Thank you very much, Mr. Digs. Do we have a representative here? Please come and accept this um proclamation from the city council. [Applause] I know she's really great. She's so good. There you are. Thank you so much for being here and thank you for the work that you do. Thank you. All right. Our next um proclamation is for Mayor Proim. Thank you, Madame Mayor. This proclamation is uh to recognize Arbor Day. Whereas urban forestry is a very important municipal responsibility, providing countless benefits to the city of Charlotte, including enhancements of the quality of life. And whereas trees can reduce the erosion of our precious top soil by wind and water, cut heating and cooling costs, moderate temperature, cool the air, reduce oxygen, and provide for wildlife. And whereas trees in our city increase property values, enhance the economic vitality of our business areas, and beautify our community. And whereas trees wherever they are planted are a source of joy and spiritual renewal. And whereas Charlotte has been recognized for the 45th consecutive year in 2024 as a tree city USA by the National Arbor Day foundation and desires to continue in its tree planting ways. Now therefore, she by Alexander Lau's, mayor of Charlotte, do hereby proclaim Friday, April 25th, 2025 as Arbor Day in Charlotte, and urge all citizens to support efforts to protect our trees and woodlands, support our city's urban forestry program, and plant trees to gladden the hearts and promote the well-being of present and future future generations witness by her hand in the seal of the city of Charlotte signed by Mayor Laos. Thank you very much. Do we have a representative from Tree Charlotte? There we are. Thank you. I'm with the city arborist. Great. Oh, okay. Don't you do all that work? Okay. Thank you, Charlotte. Thank you very much. Thank you. So in addition to um those recognitions um you know we have a number of people I think at le organization and we get a lot of things done because of the people that do commit to being part of our community. So I want to recognize our city clerk's office for a moment here. I want to make sure that we recognize that on behalf of the International Institute of Municipal Clerks, congratulations to that your office, Stephanie Kelly. Your city being the select in the winner of it's some Roman numerals that I don't know how to express 2025 program excellence in governance award. The reason that this award was brought to this place at this time is because of the passport processing facility operated by a city clerk's office and the work that they've done to get people their passports in a great fast way. So, we have to honor you and say thank you for what you've done for our government. But on addition to that, when we have meetings before we have this meeting, Stephanie said, "Well, I've got another one." And I'm like, "My gosh." You know? So, I want to say this because I think it's really as important as what you do every day here with us. And it says, "Dear Stephanie, on behalf of the board of directors, the Quill nomination committee, and the membership, I want to congratulate you on winning the most prestigious award, the Quill. You were chosen for your strong support of the goals and philosophies that are outlined in the code of ethics for this project or this activity. The criteria includes length of service, strength and extent of participation, service in fellow with me fellow municipal clerks, involvement with the initiation or administration of approved training institute and programs or any other activity that enhances the role of professional members of your organization. I think two war two recognitions like this in a day deserves a round of applause. [Applause] I know. So, Stephanie, um I won't ask you how long you've been with us, but every day I expect has been either a tragedy or an a magnificent opportunity. So, thank you very much for your role and what you do here to help us be who we are. All right. So, I believe that that's the end of our recognitions for today. We'll now move to our consent agenda. Um, are there miss anyone to would recognize or want to have a a consent agenda discuss discussed or pulled as a separate vote? Not that I'm aware of unless there's any for this. Anyone okay with that? Oh my gosh. Okay, hurry up. Let's see. Um, Mayor Prom, would you give me a motion for Uh, yes, Madame Mayor. I move that we um approve the consent agenda items 11 through 28. Um, in one motion. All right. We have a motion and a second. Any further discussion? Hearing none. All in favor of that motion, please raise your hands. Anyone oppose? Thank you. Thank you. Thank you. So, I know that that is really a real gift. So, now I'd like to turn it over to the manager for an overview of our action review just topics for tonight. Uh thank you, mayor, members of council. We have one item for the action review tonight, and that's the housing trust fund recommendations. I think a couple of weeks ago, um the team provided you with the list um of some of the projects that would uh come tonight with the background and then uh last Thursday the actual recommendations of the team. I know it's a lot to absorb. I I will tell you this, we're very appreciative for what the uh council has done as well as the housing and safety housing safety and community uh committee, you know, with from the council perspective. Uh going from 50 million to 100 million last November and getting that approved was a big accomplishment. And what the committee was able to do to um provide more guidance, a framework, thank you so much. around uh how the HCF dollars will be deployed differently uh was extremely important and I believe that that was also adopted at the uh end of last year. The good news is we have more policy uh clarity. The other news is the demand for our funding is stronger than ever. Uh you'll see over two dozen funding requests that in aggregate asked for more than $75 million. Uh Rebecca is going to take us through all of the material. I'm not sure if there's walkup music tonight or not, but mayor, unless there's any questions, I'd like to turn it over to Rebecca. All right, Miss Hefner. Good evening, everyone. Just for the record, my preferred walk up song is Can I Kick It? And and it's a call in response, right? Can I kick it? All right. Thank you very much. And uh so this this is going to be a lot of information tonight. Um, you have a historic housing trust fund bond, hund00 million, and a historic ask of nearly $80 million across uh 20 uh investment propo proposals and additional five proposals for city-owned land. Um, so as we get into it, I believe the presentation has been provided. I just want to remind you all that we also will follow up with what we refer to as the HTF booklet. So you'll get an additional communication from us that has uh two to three pages overview of every project um that we discuss tonight. So tonight is really to give you an overview of the uh proposals that were received as well as staff's recommendations. Uh, a couple of important things to note. Again, this is your first funding cycle following the expansion of the housing bond and the adoption of your affordable housing funding policy. Again, it was a very competitive round. Um, but you're going to see a lot of different things in here. Um, there's multif family development, Noah preservation, home ownership, to site acquisition, and city-owned land for affordable housing. uh this is a great representation of all of the different strategies that you have put in place uh to to to be successful in affordable housing here in Charlotte. So the b the bottom line is you're going to hear from us uh staff we recommend 13 housing trust fund proposals. We'll go through each of them tonight in addition to proposals for the use of city-owned land for affordable housing. The other proposals were recommending that that uh you defer to the next RFP cycle which provides an opportunity for staff to continue working with developers to refine their proposals and that's coming up quickly. That that RFP will open in May. Um and you'll see those recommendations in September. So previously last uh September uh you all adopted the affordable housing funding policy. I'll review the highlights of that policy with you tonight because that's the framework that staff used to evaluate the proposals that were submitted. Uh again, you you got a summary from us uh a couple of weeks ago at this point. And then the vote for um the housing trust fund recommendations will be on the council business agenda. It's planned for April 28th. So that's two weeks from today. Just as a reminder, the work that you all have been doing is working towards what we think of as uh a shift from a traditional focus on housing unit production to a more holistic focus on resident outcomes. So, you have been very strategic in the way that you've designed your policy and your strategies and the tools that we've developed to work towards housing not just to put units on the ground, but to help promote economic mobility, neighborhood affordability, and residential stability in our community. And what I would add to this housing story is that now we're working very closely also uh with the team that's working on the mobility plan. Uh and we're really integrating housing into your three-legged stool. Housing, jobs, and mobility. And housing alone uh won't won't achieve these more holistic outcomes. But when you think about how it is then integrated with jobs, workforce development, transit, mobility, um that's that's where the magic happens. I want to talk a little bit tonight about the whole hund00 million housing bond and the ways that that we are working to activate on that for you because while we have a lot of information to share tonight, it is only a portion of the total of the housing bond. So in your housing policy adopted last September, you established these allocation categories. So, rental housing production at 35 million. The way we activate on that is what we're doing here tonight. So, the housing trust fund RFP. Um, your first round of recommendations, those are tonight. You'll vote on those on the 28th and then right on the heels of that, the second round opens in May and you'll see those recommendations in September. We'll continue to have rounds as long as you continue to have funding left in the housing trust fund. Uh, typically in a in a um two-year bond cycle, we hold we have three rounds. Home ownership. This is one of the categories that you really uh ask us to lean into. So, so your application goal here is 25 million. There are several different ways to activate on home ownership. You'll see some proposals tonight that came in through the housing trust fund RFP. Uh, but we also have new guidelines for your House Charlotte down payment assistance program that are rolling out right now and the acquisition rehab resell revolving loan fund which is also active right now. So, the next time we come back to you, you'll start to see some of those uh um dollars start to draw down as we deploy them in in those programs. Rental housing preservation and anti-displacement is the next category. you allocated $14 million to that. Now, because of the nature of the market acquisition for Noah's, that is actually a rolling RFP. So, it does doesn't open and close at specific dates the way that the housing trust fund RFP does. And you may recall back in uh February, you've already approved uh one rental housing preservation, the Sharon Point community uh was approved in February and and then you have two applications that have come in since then and we'll be talking about them tonight. And then those are those are the three categories that you'll actually see recommendations out of the housing trust fund tonight. Uh this round there were no applications. Um there was not an application for supportive housing and shelter though we know several partners who are working on those. Um so we expect to see them in the next round. Um your housing rehab and emergency repair. These are programmatic dollars. So they will be flowing out um not not through a big RFP um uh like this but actually an RFP to partners who will do that work um for the city. Uh the innovation pilot fund we talked about this in housing safety and community committee uh last week. Uh Warren gave a presentation on some of the things that are already going on uh and got some great feedback from committee about how uh you would like to see us activate and cultivate and bring forward opportunities for innovation. There is one site acquisition development um up for discussion tonight, but you still have a little bit of money left in your TOD fee and loo bucket. So, we are going to uh recommend a site acquisition development, but it's not going to draw down out of this 5 million bucket. Um, and then there's some funding that's been set aside for administration and evaluation. Um, the team has done a great job of establishing those partnerships. And again, we talked in committee last uh last week about the um plans for the evaluation of your um housing investments going forward. Again, uh all all of this work, including the way that we've evaluated the proposals, is based on your funding policy, which includes these three goals: economic mobility, neighborhood affordability, and residential stability. In the policy, you you established five investment priorities, uh priority populations, location priorities, uh resident services, partnerships and leverage and innovation. And so again, we used this policy as a framework for how to evaluate the proposals that came in. uh we we saw um a a lot of good work done by our development partners to really uh articulate and also demonstrate how they are working hard to meet your investment priorities. Uh was particularly pleased at um with with the proposals that came in with strong resident services uh as we think about this more holistic approach. uh and we've had a lot of conversations about how we can support people in that economic mobility journey which often is you know those those pairings of resident services. I will say you you're not going to see a lot of innovation in this round. Innovation is something that's going to take a little bit longer to cultivate. Um and again if you think about the development proposals um when you adopted your policy last fall these proposals had already been in the works for a year two years. Um so they've so our partners have done a lot to to really work through um how they can add to and augment their uh their proposals mostly on the first four and then we'll we'll be working with them to bring you some more innovation related um uh ideas as as the um bond cycle proceeds. As a reminder, your housing trust fund is established to provide gap financing for affordable housing developments. We often say, you know, fund the the la the last funding in, right? We're we're um there's a there's a stack of of funds that make a project pencil and you know, we're the ones that fill in that gap there at the top to to um get this these proposals across the finish line. the fund is replenished on a bianual basis via your bond referendum, but also some federal allocations. So, uh you may recall sometimes we make a recommendation to use home funds, for example, um when projects are eligible, and we have one of those in here tonight. Uh so, we we make every effort to recommend uh the best funding source for any given development that will help you all stretch your uh housing dollars further. the winter request for proposal round which we you know despite the fact that it's April we are just wrapping up the winter request for proposal round and it aligns with the state tax credit application deadlines. So this is the round where you typically see the 9% uh tax credit proposals u because they're due to the state uh in early May. And a reminder, both the uh Noah acquisition and your transitoriented development um funds um have separate rolling RFPs because that's typically land that's on the market and and a need to move more quickly. Again, um and I just want to thank staff um Warren and his entire team, Michael Angelhart, who's our housing trust fund manager and is with us this evening. um and um several other folks on the team who have been hard at this over the last couple of months uh evaluating each and every one of these proposals for alignment with your affordable housing funding policy. In this particular uh round, the housing trust fund RFP was released uh at the end of November. proposals came in uh at the end of January and a lot of work has happened in between including um uh having uh development plans um site plans and sketch plans reviewed by the planning department. Um and and then here we are tonight, April 14th. And in two weeks, we'll be back in uh on your council business agenda for a vote. And here is your overall summary. This is the information that was provided um in in the um in in the council memo memo a couple of weeks ago. It's an illustration of the categories in which we did receive proposals. So again, this isn't every category. Um, and the council allocation, the commitment to date, again, the $5.1 million in Noah funds was committed by council on February 10th. Um, and then again, the number of proposals received and the funding requested. So again, this was a significant um amount of funding requested uh in both the rental housing production and the rental housing preservation categories. The amount of funding uh requested exceeds the uh funding available. Okay, so that's all of the preface. Uh the next section here uh we I will walk you through the uh the proposals that staff are recommending to you um this evening. So rental production again um and in this in this section I'll say I try to come up here and not read from my notes but 25 proposals y'all. I just want to make sure I'm talking about the right development on the right slide. So, a little bit of grace I would ask for just tonight as I glance down uh at my notes. So, rental production, this is new multif family that can include mixed use and mixed income developments. Um, but this this category also includes accessory dwelling units and missing middle production. Uh, you received 13 proposals in this category totaling over $61 million in investment requests. all of them for um multifamily affordable housing. Um today staff are recommending six developments for investment which together will create nearly 700 new affordable units. Um 168 of which would be for seniors. Uh one of the developments that we'll talk about in a minute is located in the ETJ is actually eligible for for funding with your federal home dollars. Um, so that's that's a recommendation that we'll make that won't hit your housing trust fund. And the other the other five that we'll be talking about comprise a total investment of uh nearly $20 million of HTF funding. The first development that we're uh sharing with you tonight as a a staff recommendation is Baker Crossing. So, Baker Crossing is a 58 unit u family um 9% tax credit uh proposal. So, this again is one of the one of the developments that uh is also applying for um 9% tax credits to um that will be done to the state in May. So, uh a number of things that are really exciting about this particular development. Uh this is transitoriented development. So, um, off of North Trion, just outside the Hidden Valley community. Um, there's a map in front of you for anyone who needs orienting. Um, and this is located within the I uh, well, just outside the I85 Sugar Creek corridor of opportunity. So, it's right there along the blue line. Um, it's less than a quarter mile from the Tom Hunter station and it's also along a um, the Route 11 bus line. There's a bus stop directly adjacent. So, so we had a number of transit oriented development proposals in this round and um in we had a um sta staff session to talk through uh the proposals with the mobility team and uh uh Danielle around uh workforce development and talking about sustainability. And this is this is one of those TOD um opportunities that that's just a great opportunity right now as we think about the potential for the mobility investment and the sales tax. Um this is along the blue line. Um sometimes we think, you know, we missed an opportunity here. There is still opportunity along the blue line. Um this is this is on a 1.6 acre site. Think about this is a small parcel. Um but they've they've they've figured it out. They proposed 58 units. Um it's a low overall investment request and a 99-year affordability period. Um some of the things that that um are really uh great about this proposal, they've have if you see the percent at greater than twobedroom, 14%. So they're proposing eight unit eight units that are threebedroom and 38 32 units that are twobedroom. So this is this is great along the transit line. it's often more difficult to get some of these um uh units that have um more bedrooms. Uh again, this is contingent on a 9% award. So, just as a reminder, if you do uh approve this uh development for investment, then it will move forward into the uh application for tax credits from the state. If it's awarded, it will move forward. And if it's not awarded from the state, then that money returns to your housing trust fund. Uh I will say in this one we think there's an opportunity to strengthen the resident services proposal. Um this is this is more of a standard resident services that that we've seen in the past. Um they've proposed for property management to facilitate services with local providers. Um and and we can continue to work with them to try to connect them to those local providers and and strengthen that component. Um but we really uh looking at the project with the current focus that you all have on mobility um and this location and the very efficient investment um staff recommends this one to you all. All right, the next one is the Barton South. So you may recognize this uh name because you have funded this development previously. So this is 140 units of affordable housing um again in a transit oriented development district along the blue line. So this is one of the projects that was awarded funding uh right as the pandemic hit and um and many of those awards you may recall um experienced budget overruns due to rising interest rates and increased construction costs. And what the Barton South did at that time instead of uh trying to push forward with so you awarded them $3 million in funding and instead of trying to push forward with the development that they had proposed which was no longer economically feasible uh they um used the Htf funding to acquire the land which then bought them a little bit of time to revamp the development proposal. Um and now that now it is back uh in front of you all um for that full funding. So they didn't they didn't ask for additional funding at when that was available through the housing trust fund. And even with the previous city funding um this is still a um reasonable all-in investment. Um and again this is located along the blue line extension. It's situated between the Tybola and Archdale stations. Uh, one of the things you'll notice here on the location summary is this neighborhood change score is high. Remember, each of these component scores is out of 10. Um, this is a reflection of all the construction that's taking place along the light rail, especially back there adjacent to Tybola Road. It's part of my um, uh, commute between home and dropping my son off at school every day. And I tell you, every single day there's something new there. Um, town homes, apartments. Um but this site is also um you know within a half a mile of two grocery stores and and this one again you'll hear hear some of the same refrain. This is a family development along the um transit line and this one has nearly a quarter of the units greater than two bedrooms. So this has um 66 two-bedroom units and 32 threebedroom units. that is really great for um a transit oriented development and another 99-year affordability period. Um you'll notice a trend in there. All of the proposals that um that the multif family that we're bringing forward to you tonight have committed to 99 years of affordability. Um, I'll tell you one thing is that the more competitive you make your funding, you know, the the better commitments you get from your development partners. Um, another uh um uh val value piece here in the Barton South is um they have a nonprofit service provider that they have partnered with um to provide on-site services. Uh and they have received a letter of intent. Um they're proposing to work with community link uh and have a variety of services provided on site. Um and they're planning to do a resident needs assessment on movein to make sure that those services align with the needs of the residents. I will also say this is one of those developments that's leveraging your unified development ordinance. Um so they're achieving additional building height which provides for more units. So you are uh you are using all the tools in the toolbox whether it's uh you uh regulations in the UDO or financial incentives from the housing trust fund. Uh you've got a little bit of everything and it all works together to make these uh developments possible. All right. Number three, Haven Ridge at Sharon Amity. Haven Ridge at Sharon Amity will create 120 units of affordable senior housing. This uh is a location in um on Shar and Amity um between Albamaro and Independence. It's across the street from Amity Presbyterian, not directly across the but kind of um caddy corner there. So, it's within the central Albamaro um corridor of opportunity. Uh this particular location is adjacent to a bus stop that's serviced by several bus lines. Um it's also a half a mile from a proposed um transit uh station along the Silver Line. again another 99 years of affordability and and this uh development is particularly strong in the resident services and uh partnerships that they are leveraging. Um so they're partnering with a nonprofit um called Opportunity South Carolina. Um and that nonprofit partner will have a right of first refusal. So, uh if if this building uh goes to sell in the future, this partner um will have the opportunity to purchase it. So, it's a really strong uh partnership uh opportunity there with opportunity South Carolina. Um they they have also brought in two other partners for resident services. Um so, they are proposing to partner with Matter Health. U Matter Health would provide um full-time health care services on site at the property specifically tailored u for the health care needs of seniors. Um so they they will have a permanent space in the clubhouse at Haven Ridge um and will have staff on site full-time. They also have a letter of intent around additional resident services from a faith-based nonprofit called Mission 1513. and they would provide education workshops, financial planning, counseling, health and wellness services and community uh events. And so um we um the development partner here is Dominion. This is a new partner to the housing trust fund. Um so we are you continuing to attract new investment and development partners here into Charlotte and Dominion. Um they do have experience with LITC. They have experience um using local dollars and federal home funding. Um so staff are excited to uh have an have a new partner in the mix. The next development is Union at Graham. Um so uh this this one is um 198 units total of affordable housing. And you'll note that one of the one of the interesting things on this proposal is that they actually max out at 70% AMI. So there's a large large number of of their uh units that are 70% AMI. Uh the um Union at Graham is on road. It's north of I 85 in the Sugar Creek I 85 corridor of opportunity. Again, this one's along the 22 bus line. Um and it is about a mile from a proposed stop along the red line. So again, good uh transit connectivity. Um again, this uh this area has a high neighborhood change score reflecting the construction activity in the area and we expect that there will continue to be um more along that red line as plans for the red line progress. And one of the interesting things that uh Union at Graham has proposed is they work with the residents to create a plan for their um on-site services. And they they have indicated that they're providing space in this um this community for partnerships with uh partners like Alliance Health, Housing for New Hope, and Urban Ministries. Um, but one thing to note about Union at Graham, this is a lot of units and it's a very efficient investment. So the total ask of U 4.4 million is an investment of just over 22,000 um per unit. Um, and and most most of the developments you're looking at tonight are closer to 50,000 per unit. Um, and then when you factor in that 99 years of affordability, you're down to just over $200 per unit per year. So, a very efficient use of your housing trust fund dollars, but also uh an an intriguing uh proposal. All right, the last multifamily um that we're proposing out of the trust fund, not the last one, but the last one from the trust fund is Woodward Apartments. So, Woodward Apartments, uh, again, 130 affordable units and another 99 years of affordability and another pretty efficient investment. So, Woodward Apartments, this is located on the parcel that's at that very northeast corner of Camp North End, um, near the intersection with Graham Street. Um, so if you can think about that location, it's really designed and and the the um developer has intentionally designed it to be a link between the neighborhood and the great greater uh master plan of Camp North End. U so this site will have of course great access to amenities there at Camp Northend, but also potentially access to um to employment opportunities as well. Uh the Woodward Apartments, you see under the location summary, it has a very strong location score. Um this this site has proximity to amenities of course. Um but uh parks, shopping center, grocery store, school, bus stops. It's also served by the 22 line. Um and it also has a very high neighborhood change score. Remember this is out of 10. So 9.9 means it's uh almost almost the highest. Um and in this development um they have prop uh proposed a um services partnership on site with ounce of care. So ounce of care is a nonprofit. They focus on financial mobility, health and wellness, safety and community engagement. So they will have a service coordinator full-time on site um that who will facilitate educational programming, financial literacy, job training opportunities uh and others. Uh again, Standard Communities is a new partner to the housing trust fund uh with significant experience in construction and preservation of workforce and affordable housing. The last rental production recommendation we have for you this evening is Long Creek Commons. So Long Creek Commons is 48 units of affordable senior housing. As I mentioned earlier, this is the developments that's located in the ETJ. So it's off of Batty's Ford Road just north of Mount Holly Huntersville. So right right there. Um that so this is eligible for home funding. So, their funding request is $800,000, which you have available in your home fund balance. Uh, and so we recommend that you utilize those funds to invest in Long Creek Commons. Uh, if you think about um that location, so Long Creek Commons, it's not near public transportation. I mean, you're not you don't have a a bus line. You're not near the rail line, but this is within the adopted microtransit zone. So, it's a example of what will what will be in the future a new way for um our residents to uh get around in the city. Um it also has of course good access to shopping center, grocery store and pharmacy. Um it has a it has a very strong location score um especially the diversity score which u which is notable in comparison to some of the other developments. Um it has a this is in a location with a fairly high u median household income and also a pretty strong um change score. Uh there is a lot of construction activity in the area and it's one of the locations where the current rental costs are already higher than the county average. Um this this development again though we would say has an opportunity to strengthen resident services. Um again this is a a proposal where they have um offered coordinated services through the property management company but they did outline what some of those might be. So budget counseling, health screenings, safety speakers and social events. And again this is the other the other development within the um uh range of proposals that is a 9% tax credit. So again, this is uh if if you approve this development for your home funding, uh it would then go into the application for um tax credit funding in um May. And I should note um actually that's also the case for the others that are 4% uh tax credits. Um the what the the uh 9% we've called out specifically because they tend to be um so competitive and at least in the past the 4%s have uh uh been awarded um when because there's much more of of that um capacity. All right. So um typically we recommend a series of of developments and then um we we uh recommend that the balance of the proposals are deferred to the next housing trust fund round. Uh we we developed a new category for you tonight um because we have one really intriguing proposal um that that needs some further evaluation. and that is the um Brooklyn Village uh multifamily um proposal. So um the the proposal uh is a request for $13.5 million. So this is the largest ask in housing trust fund history. Uh and if you were to to move forward with the other recommendations, um this development on its own would then essentially exhaust the balance of council's rental production allocation goal. Uh but we really recognize this is a significant site. Um the Brooklyn Village proposal is part of the Brooklyn Village redevelopment master plan. Um there are multiple public partnerships at play. So the city Mcklinburgg County um a significant proposed investment of vouchers from Enlivian as it's designed there are a couple of challenges outstanding with the project financials and uh so our recommendation to you tonight is if you want to continue evaluation of the Brooklyn Village uh uh proposal, defer for now. Um but instead of waiting on the next housing trust fund round um direct staff to convene the partners so the city, the county and Livian our development partner to explore alternatives to the current funding structure. see if we can uh either get the um overall cost down so it it fits within uh your investment categories um or or find help the development partner u find additional funding sources that would close some of that gap and our proposal is that we would bring a recommendation back to you all in June. So again, rather than deferring to the next funding cycle, we would take a look um at at this um proposal because there are so many partners at the table. Uh we think we can get a better outcome for you all on this development if we're all sitting down and working together. All right. So the next category we're going to move on into is home ownership. So, thinking back to your affordable housing policy, um, home ownership includes new home ownership production. That could be single family detached, town homes, ADUs, missing middle, um, but also home ownership and down payment assistance, and your ARR revolving loan fund. In this housing trust fund round, you received four development proposals. Uh, and staff is recommending all four of them to you for investment. Uh they total $4.7 million in housing trust fund funding and they would create 102 new affordable homes. The the first one here I want to share with you um is Avaline New Town Homes. And um I'm I'm sad to see council member Mayfield is not here this evening as I know uh she would be very excited in particular to see that this is a faith and housing partnership that has come forward a partnership between New Presbyterian Church and the development partner Dreamkeep Partners. So, uh, this this town home development would create 54 affordable for sale town homes um with sales prices ranging from 267 to $276,000 serving homeowners uh at 60 70 and uh 80% AMI. And and this was as a faith and housing partnership. the um Presbyterian Church worked very closely with Dreamkey Partners to share what it is that their vision is and their mission for contributing this land for affordable housing. And one of the things that was very important to them was fostering community interaction. So, you'll see a little bit on on on this picture here, but when also when you look at the site plan, um things like these thoughtfully designed front porches, they're they're all designed to promote community interaction both among the neighbors and with the church. Um we've included the location summary here for reference. Uh your your location guidelines actually um uh exempt home ownership. um but uh because because they're a little bit different. Um but I wanted to share some of the highlights about the location. It it's near the Toby Creek Greenway. Um it's within 2 miles of major retailers and about 10 minutes from um UNC Charlotte. Uh and so the the um it would provide some home ownership opportunities uh in a in a really good location um for families. Uh, and again with 54 new units, um, it's a really, um, exciting opportunity. I don't I don't know if, uh, if y'all have been keeping track of how hard it is to buy a house right now. And that has been that has been for the last couple of years. And it and the pressure just keeps building as as home sales prices increase, and we haven't seen a lot of relief on interest rates. Uh and so um th this is a a great opportunity to get some some new homes uh affordable homes on the ground for um families. Uh as is typical with the home ownership developments from Dream Key, they've included 30 years of affordability in their proposal. Um the next three slides, the next three developments that you'll see are home ownership developments proposed by Habitat for Humanity. U and so you you've seen you've seen some of these before. Uh it's uh the Habitat's home ownership model. Um it's a little bit different. Um they they uh they require 15 years of affordability. That's for the specific resale restriction. Um and it requires any subsequent buyer to be you know within that 80% AMI but the effective period of their restrictions is 45 years um because at past that 15 they include a right of first refusal and a um provision that the unit may not be used as a rental. So that is that that will be um the same for all three of the next home ownership developments that you see. So, Kari Upon Town Homes is the first one. Um, this is a mixed income home ownership development. Uh, it's located near the intersection of Hickory Grove and Sharon Amity Roads. Um, and this development includes 32 affordable town homes that would serve households you'll see here at 50 to 80% AMI and 41 market rate town homes. So, a a true mixed income community. And this is a partnership between Habitat for Humanity and Strivers Row, which is a joint venture of Kingdom Development Partners and Harmon Construction Services. So again, bringing in new partners, helping to build the capacity for affordable housing development in Charlotte. U you may recognize Harmon Construction Services. um they they provide the um uh rehab work for the Noah properties that you have um invested in previously and they're also currently participating in the um emerging developers uh cohort that uh you all funded with corridors dollars with lisk. So a really great partnership is being built um here u at karia pond. Um this is actually a 9 acre site. Um so again the opportunity to do to do more things um and and uh have a have a true mixed income community. All right. The next two development proposals again still Habitat. Um they're they're smaller more of the infill site similar to what you saw from Habitat in the last round of the housing trust fund. Um this one is F Road Town Homes. Um and this is located near Craig Head Road and North Trion Street. Um just a small infill site. And this project would consist of two buildings. So it would contain eight units. um and uh seven of them for affordable home ownership for households between 50 and 70% AMI and one that is um proposed to be market rate. So again, these are these are um uh for sale town homes, you know, three bedrooms, two and a half baths. Um and and this particular development is um laid out uh where um the two different buildings would be se separated by a parking lot. Um so they've done they've done a lot of work um with their team and with the planning department to really maximize the use of of this infill site. And the last home ownership proposal we'll talk about tonight is Tom Hunter Town Homes. Uh and this is again a smaller infill site. They are proposing 10 units. Um six single family detached homes and then two buildings that are duplexes. Um this will have nine affordable homes uh serving households between 50 and 80% um area median income and one market rate. Um you can see the the design here um on the screen that they would they would have um because they're a mix of single family and duplexes units that range from 1,200 to,500 uh square feet. and they have proposed um you know sidewalks and a preserved tree buffer along the side of the property. Um again doing doing the hard work to make the most of what can sometimes be these tricky infill sites. All right, if I can just take a deep breath here. We're making our way through. So that's home ownership. All right, the next investment category we're going to talk through is rental preservation. Um so rental preservation in in your policy this is referred to as rental housing preservation and anti-displacement. So this investment category includes um your Noah acquisition and rehabilitation but also it uh small landlord investments and potentially multif family rehabilitation and redevelopment. Um you did approve uh the Sharon Point community um an investment in February for a um for 5.1 million. Um and so the balance in this investment category is 8.9 million. Um and you've received two proposals for this category. Both of them are for Noah acquisition and rehabilitation. Um, and the challenge that uh that that you face on this one is that if both of those developments were awarded funding, they would exceed the allocation goal for rental housing preservation by $1.5 million. Um, and they're both strong proposals. Um, so today we're going to share the information with you on both of them. Um, and wanted to get your feedback um, be before we move forward with a final recommendation around rental preservation. The first proposal is the hideaway at Kings Park. So this is a new development partner for Noah's uh Sandy Road Ventures and um this this is uh you know your your Noah investments which you started um you know on the cutting edge of this work in um with your 2018 bond. um you have done uh a number of these uh investments with um Ascent Housing and this is the first proposal you've seen from another partner. Um and so we're starting to see an expansion of the partnerships and capacity uh in the uh Noah market. Um you'll see the hideaway at Kings Park. Um this is a kind of lower density um apartment community, 110 units. Um it's uh on Kings Park Drive, but just off of West Boulevard. Um tucked behind there kind of Dr. Dr. Carver Road where it winds around. There's a lot of new town home development uh in that area. And you can see it has a very high change score again because there is um so much of that development happening. Um but in in excellent location, a high location score uh and so they have requested $5 million in housing trust fund funding. Um and notably they've committed to a 40year affordability period. So each of the other Noah developments that you have invested in previously has been um a 20year investment period and Sandy Road Ventures has committed to 40 years. And so um that um you'll see that there you know for $5 million you get 110 units. Um and partially this is because this is a much older um development. I think um in it was constructed in the late60s. Uh and so it needs a substantial amount of rehab investment which is why you you see the um the the investment per unit here is 45,000ish which is in line with your uh new uh new construction investments. The other proposal that you have in front of you is Woodford Estates uh which would be called Willow Park Noah. This is a proposal from Ascent Housing. So again, this is the partner that you have been working with in your uh Noah investments. Um this is a a larger um community, 228 units. This is off of um Central Avenue and uh this you there the standard model that Ascent Housing has brought forward to you. Again um the the bulk of the um investment is for rehabilitation. They're around 23,000 a unit. Um but typical of the ascent model um they've committed to the 20 years of affordability. Uh again, a a pretty good location, especially with the proximity score. Um and what's really interesting about this particular um community, is that Ascent Housing is partnering with Roof Above, not not just to provide units, which they they do in many of their uh Noah communities, but Roof Above is actually coming into this development as an equity partner. So they had a philanthropic contribution that they're bringing to the table as an equity partner. So that this is a a real investment. Warren Warren Warren was just giving me an overview. He said this is a real investment. Um they will get they'll actually get a a small return on this investment which helps them fund operations. Uh so it's a it's a really interesting uh model that al that will provide housing for uh families that are coming out of homelessness but also could provide uh some um uh funding for roof above because of that um investment that they're bringing to the table. One thing I wanted to note here, um, they do have a $2.5 million ask, um, in their, uh, uh, financial stack, um, a request out to Meckllinmberg County. Uh, we checked again with staff today at Meckllinmberg County. That's, uh, intended to advance to, um, the county board of commissioners for a vote in May. So, uh, if you wanted to advance this development, again, it would be contingent. Um, you've done this before with the Noah that are that are partnerships between the city and the county. And I'll note that bo both the hideaway park and uh hide hideway at Kings Park and Woodford estate. Can you see why I might might start to uh um stumble over all of these developments at some point. Um both of them have also applied for the um rental subsidy that's that um comes with uh the Noah Noah subsidy program. Okay next up to land acquisition. Um so uh you again your housing um bond um programming uh includes $5 million for land ac land or site acquisition um within current and planned um transit areas. Um, the good thing is you still have $1.5 million of balance in um in the fee and loo payments that were made actually um I guess almost two years ago now. Um and uh the so the for this particular development the developer is requesting $1.5 million. um which means that you would you would be able to move this development forward without tapping into that $5 million in the housing trust fund. Uh and so the developer has uh a proposed $1.5 million to support the acquisition of um this parcel u located within a transit oriented development area along the gold line. So this is that oh it's a small parcel on trade street just as you cross over 77 coming out of uptown. This is the parcel that's directly on your right you know directly across the street from the Bojangles. So if you can picture it that is a half an acre. Um and so um the developer though has been working closely with planning um and and and working to be as creative as possible. Um they are estimating a yield of about 100 units on this site. Um so uh they they're proposing 102 units affordable to families earning between 30% um and 80% for the affordable units. And then they've also proposed a component that would be 80 to 110%. So it would be a mix of affordable and um some of that workforce housing for families. This is proposed as a carless development. There's no on-site parking. That's how they're squeezing it onto that site. Um so uh in their work with planning and this has come come forward. They would be leveraging the gold line. and they are planning an electric bicycle share onsite. There's a a nearby off-site electric vehicle share program. Um so a lot of interesting um uh approaches in in this. Um they're also aiming to establish a what they call a healthcare empowerment program to provide various residential services to promote health and also economic mobility. So, we expect if you if you approve funding for the land acquisition, we actually expect this to move forward pretty quickly. They're they're um they're fairly far along in the design. So, you if you if you um approved the land acquisition, you might see this again um fairly quickly. Um uh but this is a this is a really interesting uh development and u an opportunity to try some new things some uh that that we don't have a lot of here in Charlotte. Okay. So that is that is your housing trust fund uh RFP that is the Noah RFP and a uh um land acquisition. So, we also have right we just and wait there's more. We also have for you tonight a um a couple of cityowned land parcels um that we are um to re to recommend. Um, so you may recall last February, Phil Rier stood here um before you and gave you an update on the um real estate collaborative work and the use of city-owned land for a variety of things that would advance your um uh uh strategic priorities. One of which, of course, is affordable housing. Uh and and so um staff have been working, you know, we've had a real iterative approach to the use of city-owned land. Uh when when when the city first started leveraging city-owned land, um we we were we were new in the game, our partners were new in the game, there was a lot of a lot of work to do even after those parcels were awarded. And so we took a step back from that original approach and we started doing much more due diligence around the parcels, working closely with our real estate team. And so it has been a little bit slower coming forward to you because we do so much of that heavy lifting now on the front end. And then in addition, as we continue to adapt the approach to city-owned land, we're really thinking even more broadly about a land development strategy, you know, a comprehensive land development strategy. So, how are we working with the county and CMS uh and the city about the locations of municipal land for affordable housing? How might we leverage uh land for the co-development of housing and municipal facilities? So Warren shared an overview of our current land development strategy with the Housing Safety and Community Committee last week and we would certainly be happy to share more, but boy, I've been talking to you a long time tonight. So for tonight, um what I want to do is share with you that we uh um put out in an RFP um three sites. There were four parcels, but three sites. You can see them here listed. um the University City Boulevard site which you've actually you awarded something on this site previously um that that didn't um uh uh proceed and then a site on Tiner Street and Freedom Drive and we received five proposals in total and we're uh recommending two of them for you tonight. So we'll start with um Tiner Street. So the um this location at Tiner Street is about 3/4 of an acre. Um it's near the intersection of University City Boulevard and North Trion Street. Um you just received one proposal for this location and that proposal came in from um the Camino CDC and True Homes. This is a partnership. So, if you think about this location on Tiner Street, um it's located direct well almost directly adjacent about a block down the road um from um the Camino church and the Camino Health Center. Uh so, this is a very strategic location for the Camino CDC to activate on um some of their goals uh with uh with the um people in Charlotte that they serve. and they are proposing um 12 rental town home well so you know four 14 units alto together um 12 would be rental town homes and two would be um transitional homes uh and they would serve uh families at 30% to 90% AMI. Um, and again, as a reminder, what we do with city-owned land is we get in initial proposals. You all make the uh make the um recommendation or we make recommendations and you all make decisions about awarding the city-owned land and then we work together to flesh out the full proposal. So, at this stage, it's still a concept, but you can see they they have quite quite done quite a bit of work. Um and so this is a proposed 99 years of affordability uh the conveyance of a ground lease. Um and if you did uh vote on the 28th to move this forward then um we would begin the process of conveying the land and they would then uh finalize their proposal and again potentially it would come back to you as a housing trust fund ask but at this stage there is no funding attached to your decision. Um, this is a a decision to convey the city-owned land for the purpose of affordable housing. The second site is uh what we what we call the Freedom Drive Assemblage and only just because there happen to be two parcels uh directly adjacent to one another. So, it's two parcels um uh there between um let's see Thriftwood and Bradford. So, it's in the Freedom Wilkinson quarter corridor of opportunity. Um it is is just down the road from um the Tuck CG Rec Center. So if you think about you know where where that comes in um to connect to Freedom Drive and uh you received two proposals for um for for this uh assemblage on Freedom Drive and the proposal that we're recommending to you this evening um came in from True Homes and Prosperity Alliance. So again, another uh another partnership that would bring uh 12 town homes. These town homes though would be for sale town homes. Um and so when we do when they when our u when we do uh for sale um instead of a ground lease uh the city would convey the land in fe simple. they are proposing um uh affordability period of 20 years and 60 to 80% AMI. And one of the interesting things that you know because of the the partnerships that are here um there's al also True Homes is a partner on the other city-owned land opportunity. Uh and so one of the things that they have been talking about is how do you create a pipeline then where you have two two units of transitional housing rental town homes and then also um a development of new town homes. So, uh, the, um, our partners again are working hard to be responsive to the things that you included in your affordable housing policy and getting creative with partnerships because that's the only way they can make any of this work. Okay, so that is the end of individual developments that I will be reviewing and we are now in the um sum summary section of tonight's presentation. Um this is this is where you'll you'll um need to get out a uh you know you your reading glasses there with these that are in front of you. You need a boogery 17. Okay. You need a booger. um because because again this is this is um quite an impressive uh array of opportunities for investment. Um when you look across um the um uh rental housing production, we're showing here you have uh both five five developments out of the housing trust fund and one with federal funding. Again, nearly um 700 units, 160ish of those are seniors. in home ownership. Of course, you received four proposals and uh and staff have put forward all four of those proposals as recommendations for your consideration. Uh that's about almost 4.8 million creating 102 units of affordable home ownership. Uh in the rental housing preservation and anti-displacement investment category, you'll see a couple of asterisks here. Uh this this is again the situation is if both of these were recommended um that 10.4 million would exceed the current allocation goal for rental housing preservation. So I have some tables and and even some graphs in in the next couple of slides to help you visualize uh where these recommendations stack up against your investment categories. Uh to land acquisition, again, that's 1.5 million. It wouldn't hit your housing trust fund. That would come from your fee and loo balance. And then the two proposals for city-owned land. When you look across this whole range of recommended developments and uh it and on this particular slide, I will note included both of the NoAs. Um and so your investment would create over,00 affordable housing units 100 of them at home ownership in a sales price range of 267 to 285. Um so you can see on this slide at the various levels of area median income what the rent ranges would be. Um the range that's shown here is a range from you know the the rent for an efficiency to the rent for a threebedroom. So this is an an opportunity that an investment opportunity that creates a lot of opportunity for uh households and families in Charlotte to to to live here affordably. And then the summary here of the deferred developments. These we haven't gone over each of these in detail tonight, but they are uh included in your housing trust fund booklet. So, you'll have an opportunity to see again the full detail on each of these. And uh we're careful about making these recommendations um and framing this up as a deferral. um these these developments uh we think with some additional work in partnership with staff and the developers that that we can bring back something to you um uh at a f in a future housing trust fund round. So note here the asterric we've put by Brooklyn Village. Again, this one we're recommending if you'd like to pursue this large ask um we're recommending further evaluation. Um and then there are um five other developments um that are recommended for deferral and along with the um city-owned land parcel at University City Boulevard. We did receive an application for that parcel. Um and uh at this time that there's a lot of challenges with that parcel. Um and and at this time we we propose to defer that parcel to to continue to work with the developers. You did you did um approve a recommendation previously. It was for a uh 9% tax credit development and it didn't score on the site score um for for the housing finance agency. So that didn't move forward. Uh, so here we are again and and we think this this um parcel will probably need to take a little bit of a different approach. So I talked about how we're iterating on how we really activate on city-owned land. Uh, and this one I think we'll need to to be a little bit more directive in in what some of the opportunities are there. Um but again um in our particularly in the rental housing production um for staff recommendations in the very first round with your new uh policy um we've been we've been uh on the conservative side in terms of what we recommend. There are a lot of good developments that are in this deferral um uh list and we wanted to heir on the side of reserving some of your capacity uh in that rental housing production for uh future rounds. Um but I think I I had uh shared shared earlier uh we we make recommendations and then we'll hand these off to you all for deliberation. All right. a couple different summaries here at the end. I just want to walk through briefly a couple of different ways to slice and dice this and think about um the overall recommendations and if they were approved, what would the forecast look like in your housing trust fund? So again, out of your $und00 million bond, your current balance is 94.9 million because of the Noah community that you invested in in February. The total of the uh housing produ rental rental housing production recommendations is almost $20 million. If you moved forward with both of the rental housing preservation recommendations, that's 10.4 million, but again, that exceeds your allocation goal for rental housing preservation. And the homeownership development recommendations are around 4.7. So this is a total recommendation of over just over $35 million. So if you think about this from the perspective of of the $100 million bond, you know, there's some capacity still for your other categories and for other developments to come forward. Um but $35 million in one round, I'm not sure this is something that we've ever seen before. And this is made possible because of your historic commitment to affordable housing with the uh hund00 million bond. If all of the recommendations and both of the housing preservation developments were approved, um your ending balance would be um just under $60 million. So another way to look at that because uh there's the within that $und00 million of course you have investment goals and so out of out of all of the investment categories the ones that would be tapped with this particular round of recommendations are rental housing production, home ownership, and rental housing preservation. So this slide shows you where you are currently with the funding available. Uh the total of the funding recommended and what the balance would be in each of these three categories. If the if the uh uh investments we talked about tonight did move forward, it would leave you with a balance of $15 million in your rental housing production C investment category, about 20 million in home ownership, and then again with the rental housing preservation, if you moved them both forward, you'd actually be over by one and a half million. Oh, so this is um not what I expected to see when I turned to this slide. Um I'm hopeful that what you have in front of you looks a little different from this. No. Okay. So um when when you see this slide in the corrected presentation, what you'll be able to see is how uh the recommendations stack up according to the total um allocation. So it is again just a um uh graphic representation of this table. And I'm gonna have to say, Council Member Wington just told me earlier I haven't disappointed her yet, but but what do you think y'all? Does this count? You're still good with me. You still do it with me. Don't even worry about it. Um and so really really what it what the um slide intended to do was to illustrate um that within these particularly the rental housing production investment category and your rental housing preservation category um how each individual project um kind of taken together uh adds up to the recommendations and the balance that's left. So the same information that's here on this slide um in a bar chart form which we will make sure that you have in a way you can actually read and follow up to this presentation. Um and so one one other look uh here same information but this is across the entire um hund00 million bond. So, not just the categories that would that would um uh hit hit that uh uh from the recommendations tonight, but again, out of the 35 million, the current recommendations are are right around uh 20, leaving you with just over $15 million of capacity in that category. home ownership uh is moving up slower, but as a reminder, um this is 102 units of home ownership u which is one one of the largest amounts of home ownership we've seen in any given uh round of the housing trust fund. And you'll start to see u more of that investment go out the door as the city invests in down payment assistance and acquisition, rehab, resale. So, we've already activated on on both of those things. And then finally, again, in the rental housing preservation category, uh you currently don't have capacity for both of those developments. Um so, there's some some things to deliberate on um for you all tonight and for the next two weeks as well. So, here's the schedule moving forward. So, for the housing development fund, uh the the recommendations we bring to you tonight at action review, council approval is scheduled for two weeks from tonight on the council business agenda on April 28th. And the the schedule that then you moves forward. After that there's financial closings, design and permitting approvals and then um so then there may be rehab or um new construction. And so the things that you vote on uh this April that typically would come out of the ground anywhere from 18 to 24 months. Um, one of the things we were very diligent about in our evaluation of the housing trust fund in this round, staff paid close attention to how ready were these um, uh, proposals. So, uh, all of the proposals that are in, um, the mix tonight are, uh, developments that, uh, are are ready to go to closing anywhere from 6 to 10 months. The city-owned land of course operates on a little bit of a different schedule. This will still come before you on April 28th for approval, but that's just approval of the land conveyance. It's not an investment. Um what would what would move forward then is purchase pre-development design. Then if they're coming back for a um housing trust fund ask, they would put that proposal in in a future housing trust fund ask. it would come before you for consideration and then move forward to the financing and construction stage. So, that one is a little bit longer. And then just as a reminder, uh yes, this is a lot of information tonight. Um but we will also be providing the housing trust fund booklet. So, you'll have uh lots of time to review and uh absorb and consider over the next two weeks um before this comes forward to you on your council business agenda. And that is the 25 proposals that you received in this round for the development and preservation of affordable housing. Yes. Thank you. And wow, but sitting here from when we started at $15 million and where we are today has been absolutely astounding. But I I just have to say you you guys have done a terrific job in doing this work. Um, I always really try to figure out how much more we can do and you guys have hit it out of the park on what we can do and how we can do it. So, congratulations. I know you must be exhausted. Get get some water somewhere and and the team as well. You know, it is a teamwork and I think also the council members that have supported this effort, Miss Mayfield as well as Miss Watlington being able to hear from all of us. Think about this where we were in um Asheville talking about how do we do this? And here we have I think a process like none other and so I want to say thank you for the work that you've done, the challenges that you've completed for us and in a way. So, I'm now going to recognize Miss Watlington. Thank you, Madam Mayor. Um, I would just echo the statements that she just made in regards to the incredible work that you all do. You continue day in and day out to to show up and lead the way, not only for our city, but for the nation. So, thank you for the work that you do. Um, I'm very excited to see the volume. This is what we wanted, exactly like we said. So, I'm excited to see the interest um and the mix of product projects that we have here and also uh some new players at the table as well. Um, I like that with this holistic approach around outcomes for our residents, we're starting to see folks get more creative with what they're bringing to the table and their offerings because it's not just about the housing on the ground, right? It's about how are we elevating people through the economic mobility ladder. So, I'm I'm excited to see that. Um, to that end, I'm particularly interested in if there are any thoughts at this point given what we've learned today in regards to how to increase the home ownership projects. Sure. So, one one thing I will say, and you have a couple of your home ownership partners here in the room, uh, is that you're going to see more of these in the next round. Um, but then also when you think about the way that the home ownership component was programmed because it does also include down payment assistance that moves out the door programmatically. U and so and and really for home ownership to work right now, we need we need, you know, every strategy. We need our partners that are doing uh new construction of affordable homes and and we need to continue to provide uh home ownership and down payment assistance. Um and then also for the acquisition, rehab, resale. Uh and so we'll we'll uh have some conversation with our partners. We'll continue to talk as staff and and check back in with you all about ways to accelerate those opportunities for you um and see if we can bring bring back uh even even more opportunity in the next round, but also a as we roll out the new House Charlotte program guidelines, which I believe they've gone out just in April. Yep. So, it's we've had a soft launch of of the new program guidelines. are really designed to to make home ownership more accessible um in increasing the program limits and encouraging uh folks to match funding from other sources. So, we're really excited about getting that going and out in the market. And we think your down payment assistance is going to start to roll a lot more quickly um as well. But we'll take that back and and talk to our partners and think through you know what else, right? The we had the conversation about innovation. What else? So there there's a lot of uh opportunity within the city-owned land, I think, to activate on home ownership, but I think it's going to be more of the city directed where we do some of the fit studies, you know, the things we're doing at um at Wilmore, for example, where we're working with the planning department and thinking through what would what's possible here. Um we're doing that work also right now on the old double oak site, for example. So, uh, I I I'm I'm excited about what we got, 102 units in this round, but I think we're going to start to see see that move more quickly. Perfect. And just a couple quick questions on home ownership before I move on to other topics. Um, can you help me understand what's driving the years of affordability on home ownership? How is that how are we to interpret those numbers? Can you ask that one more time? um when we see um on home ownership projects years of affordability, how do how is that tied into to the sale? Okay, so it it it works with a deed restriction just the same way that that we that we um ensure affordability in in actually all of our investments. It works through a deed restriction. Um and so for depending on there's a lot of different types of model for home ownership but depending on which one the initial deed restriction is with the new town homes for example that init that initial deed restriction that's for 30 years. Um and then with the Habitat home ownership, that initial deed restriction is 15 years, but then the the um effective affordability is extended with the right of first refusal and with um the provision that it can't be used for a rental. And so we we um use those deed restrictions um to ensure that affordability over time just like we do with multif family. and then it goes into our pipeline of asset monitoring. And so depending on what stage it is um in in that period of affordability, if it sells, it has to sell to another homeowner um that's below 80% of area median income. or if it's during the period of right of first refusal, then Habitat actually has an opportunity to purchase it back and recycle it back into um their program and create a new home ownership opportunity which would then restart that clock. Gotcha. Thank you for that. And then to your point about recycling, I ask this question every year and every year I have to ask it again, so forgive me. Um, when we put gap financing on a project, do we as the city then have an ownership stake or and does that money eventually return to the city at some point? So, we don't have an ownership stake. Um, we we loan the money and then we have um a lean position essentially, right? So, um, and the way that the housing trust fund loans work, um, is they're they're they're negotiated with each development, but they're, you know, a small, um, a small percentage, 1 or 2%, um, cash flow contingent loan. Um, and so it would be repaid um, overtime contingent on cash flow and then, um, at the end of the affordability period, that loan would be paid back. However, it's our goal to keep affordability as long as possible. So, you know, we are starting to see there's some some investments from the original housing trust fund in 2002 um that are nearing the end of their affordability period. And staff's goal is always to negotiate with the developer, leave your money in the deal, and extend the affordability period. But yes, it's a loan. It gets repaid. Um, and there's no ownership stake. And I just want to get a nod. Okay. Yes. I I had to bring my wingman tonight. It just a great one. He's a great one. For sure. For sure. Um, thank you for that. That's helpful to understand. Um, especially as we start to see some of these projects come in and we start to knock on the door of our limits for each category. want to understand what might also be another stream or another means to continue affordability just like with the fee and loo I'd be very curious as to how that program overall is working um because I know we've got the 1.5 and we're about to use it should we go with the recommendation I'm just curious as to how that's been yeah you have you have a little over 16 million more in the pipeline for fee and loo commitments fantastic um the the way that program works though they they don't pay until they um pull a building permit. Okay. And so that those those are all developments that have come through um for approval but have not yet pulled a build building permit. And at the time of pulling that permit, the payment is made to the city and it then becomes available in your housing trust fund for land acquisition. Awesome. Um last two things on my end as it relates to the rental preservation. Just to follow up, I heard you say um that if we were to do both of these projects in this round, we would have actually exceeded our overall uh commitment there. I'm very very careful not to do that too early. So, I personally would lean more towards choosing one of those projects. um that obviously is up for discussion around the dis but that I would love to see us preserve some opportunity there because we want to make sure that we get some of the other types of investments in with this overall budget. Um the last thing I wanted to speak to was Brooklyn Village. Um I'm very interested to see how that one continues to shake out. Um, I know that there are some conversation around what that what that um AMI mix really looks like and how do we make sure that we position uh that project for success and the people in that project for success given that they will be living in center city. Um, and how do we make sure that we are uh providing um housing that matches the kinds of workers that we need in center city to keep our engine uh running. So, I'll be very interested to see where that one goes and would certainly be supportive of bringing it back in July. Okay. Thank you. All right, Mr. Mitchell. Thank you, Mayor. Um, first of all, I get to thank the citizens of Charlotte who went to the poll and voted for this $100 million affordable housing bond when some people question, were we doing the right thing? Um, staff, thank you for making the city council look good. Uh th this is a lot of work and the way you all have tackled it listening to our priorities uh I'm just excited about this work. Um to Monica and Sean uh thank you. I saw a CBI commitment on most of the projects. So as we continue to tie in every lift uh let me follow up. I'm echo uh madam chair on the partnership on Brooklyn Village. I think it'd be helpful as we look at all the partners where is the county participation the Livian participation I think there's some conversation about vouchers and so I want to make sure that if we can get that part of our additional information and last but not least as you told us at the retreat uh Rebecca you just hit a grand slam thank you mayor mayor pro Tim thank you madame mayor and Rebecca, here you go. I got some water for you. Thank you. No, really, really great job and congratulations to you and the team. I I want to start off by um echoing my colleague sentiments as it relates to Brooklyn Village and just uh more penciling and collaboration. We need to circle the wagons on that project and uh make sure that our partners are at the table and it's an important part of the city. It's important history and um I just want to make sure we do right by that space. So keep working on that. I would advocate for keep working on that. But I do have a couple other questions for you. Um just on on slide uh 38 with their breakdown. I was I was really um I was really taken away about by this 102 units for home ownership. You know, we had talked about doubling the investment in home ownership, more than doubling it. So, it's 25% of this uh of the housing trust fund. So, to have those units that that feels really good. Um, but I I I just had a question around the units for home ownership relative to the overall base, right? So right now it's looking like it's a little in between nine in between 9 and 10%. Just eyeballing it. I know it's much higher than it's than we've had in the past. And in the past I've asked for it to be about 10% at least 10% of the total budget but um can you just say more about the actual units that we might potentially see? I know um Miss Watlington just asked about um the down payment assistance and other things, but do you see it in the horizon any more units coming on board for home ownership? I I believe that there is more of a pipeline out there. I mean, we've we've seen home ownership new production um from from our um from our great partners at Dream Key and Habitat. Um I I know that they plan, you know, several years out. Um and we expect to see more in the pipeline um in your next round. I would ask Warren, do you have anything to to contribute there? I know you work closely with those partners. Yeah, we have some great home ownership and what you're seeing in front of you are just their current asks for this current round. You are not seeing their full pipelines of of production. I will also say that one of the thing that you know we're currently at just a a point in time where home ownership is just disadvantaged due to high interest rates which is making it very hard on our partners to pencil these out. Yes. Um we're hoping that those interest rates will moderate some to help with some of these gaps. The the problem that we're seeing is just the enormous gap that they need to get our workingclass families into home ownership with these high interest rates. And so they've done a fantastic job getting you these these 100 units up on the screen. Um but there's more city- owned land that's coming online for this. We've talked about acquisition and home ownership has always been comp contemplated for acquisition. And then if we can just get a little help on those interest rates, it's it's really going to help to get these units out the door. So, I'm very optimistic that you're going to see the pipeline that you're looking for. Okay. Okay. Good to hear. But to see that even the mortgages um are really the total cost is really going to be under 300,000 for the units that you're breaking on is pretty phenomenal in this market place. So again kudos on that. Um on slide 20, I think it's 29 where you talked about the west end apartments that opportunity they're on 45 of of an acre. Can you just say more about um this particular development? Is this something that we've seen in some of our peer cities or it just sounds like the level of density on this on this small plot is uh intense? It it is and this is particularly because it there's no on-site parking. So this is a trend that that we see across the country in you know in much denser cities. It's also a trend for transitoriented development and I expect you'll see more of these um in Charlotte. I believe this one came through resoning. This has already been through resoning. So we can also provide you um with a link back to that information um for um for more about how that parking waiver was achieved. Um but it's really thinking about especially near the urban core um on you know with good transit access uh this this might not be for everyone but for people who are in Charlotte um maybe living without a car um and uh using transit to get around and and you know again they're on the gold line but there's other you other other options for mobility um there is uh planned to be on-site uh bike share uh close proximity to a EV car share. So there will be a lot of different mobility options for um the residents here. Uh and if you think back to um for example the the visit in Munich where we were really looking at how do you combine sustainability and mobility and affordable housing. There was some parking there, but it was primarily for bikes and car share. So, it's a model that's really um being employed very successfully in other places. It's just relatively new for Charlotte, and I expect we'll see more of it, especially along transit lines um as as we strive to achieve density in those corridors um according to the to the growth plan and the comprehensive plan. Got it. I I think it's a great location um and great use given everything you've said. I just want to um make sure as we do projects like this, you know, we have some carless developments over in the NOTA area that's very close to the blue line, right? And yet the community is having challenges with uh individuals living in those carless apartments taking over the parking. And so in something like this, which is fantastic across the board, just making sure the way we execute it like in the implementation that it has some kind of teeth related to being a true carless um establishment. And um the last question that I had was on slide 26 about the rental preservation. And just looking at the numbers here, I know you mentioned that Kings Kings Park is a much older establishment than um than Woodford Estates, but the investment per unit is over double. So more than 100% than the Woodford estates. It just seems like a lot to invest for a Noah and interesting that it's that they're making it work financially, but can you just speak a little bit about that high investment? I know it's right in line with the rest of our um you know um brownfield or green field establishments, but it just sounds very high for Noah. Well, I think what you're seeing is a new partner and a new model, right? Um because the Noah uh communities that you've invested in to date have been um with Ascent. They have a very specific model, right? They've partnered with um the housing impact fund to do social impact investing. uh they they have a 20-year affordability commitment that they that because of the nature of that fund, they they have um you know shared that they cannot increase that affordability period, right? So you so um you know even for staff we we looked at this and thought okay this is this is something entirely new really talking through with them how how would you make this work? So it is a significantly older um community. Um it is it so the the investment per unit is really a reflection of the much higher investment that they will be making in the re the housing rehabilitation. Um so because it is older stock but also because they're committing to a long affordability period that they it's not a situation where they would be successful if they went in and did you surface level type of of rehabilitation. you know there there needs to be a substantial uh investment to um ensure that this can can remain in good use for a long period of time. So really what you're seeing is is is a new model um and again this is a new partner um and and we haven't invested in this type of model before. So, uh it's it it looks a little bit different um but it it uh achieves similar goals around uh anti-displacement because with the acquisition then uh the households that are living there can stay there with the rents um uh uh capped at affordable levels and then smaller increases over time um instead of it being put out on the market with a potential um displacement. uh if if it were sold at market rate and the rents increase. So, it's the same foundation of and the purpose of the preservation um of of the units. Uh it just the financial model is a little bit different because they're substantially older. They need substantially more um uh rehab investment um than what you've seen in the past. Okay. Okay. Well, um thank you for all the work. I mean, just the response clearly states and underscores the amount of demand that we have in the community. So, it was a lot of work, but I greatly appreciate it. I believe we have Miss Molina and this me Miss Ameira and Mr. Graham and Miss Brown. Okay. And then Miss Brown. Okay. So, we go one, two, three, four. Did Okay, we'll just go around. Go ahead, Miss Molina. Um, thank you, Mayor Pro Tim. Um, first of all, um, thank you both for your work on this. I don't want to belabor a point. You got to be tired. That was a lot of information, a whole lot of work. 24 hours. Yeah. I mean, seriously, you I mean, you did a fantastic job presenting a lot of data all at once. That's not easy. So, thank you for your work on this. Um I have a few specific questions and I'll just hit them at a high level and we can take the rest offline. Um I have um and and you I've communicated um the Haven Ridge at Sharon Amity with you. Um I did drive past those lots. So I drove the ones that were in District 5 this weekend just to take a look and those two lots um I I reached out. So um Coventry Woods is the neighborhood that's adjacent to this particular um this particular opportunity. And and not to call him out, but that's where John Autry lives, right? Uh and they have one of the biggest spaghetti dinners on the east side, right? It's famous. Like the annual spaghetti dinner is a big deal. And so, um last week I spoke to the developer and I asked him, I said, "Well, have you spoken to the neighborhood?" And he told me he couldn't reach anybody. So, that was a concern for me. So what I did was start to reach out to the community and then they were then interested in this particular project to know what was going on. So not to say that it's not a good opportunity, but I think you know having a mother who's a senior, right, who is not car dependent, right? And I saw the bus stop that's right there. So that's absolutely a plus for someone who would be senior. But it immediately affects Coventry Woods if we're going to put 120 units where only two houses are right now. The vacant lot that's right there behind, you know, the Dollar General that's on the corner, there's a vacant lot across the street right across from the church. So this particular decision from um from a standpoint of making it now, I think it will determine what type of infrastructure falls in line with what this development needs. And I and I would like to see because that community and that area is so engaged. I think it's important for us to tap the community and not to say that the decision is dependent on that, but I think having the impact of the community to say, you know, this is what's coming. What do you think? You know, um the housing trust fund dollars that you entrusted us with, we're going to make a decision to to do this, right? I am all for senior housing. I think it is something um our seniors especially you know on a fixed income every time we can do that you got my support eyes closed right but it's got to make sense for where we put it um and so I was looking for the things that surrounded that would make it really conducive for you know the various levels of seniors that we get who who need different things right um I know that there is a contingency for a potential silverline something I don't want to go too far into that it's pretty uh people start to bark at me. I you know uh so I you know just for right now based on the infrastructure that we have right now um I I think we got to take this particular one offline to have a few more discussions to make sure that we're good before we move forward. I think anybody who is paying attention who knows that we're going to provide resources to our seniors could easily get behind it as long as it makes sense. So, that one is one that um I think you know, like I said, we'll take that conversation off on and go in depth and and see if we can tap the community for that one. And I had respon responded to you about the community and and host um at least one community meeting. And so developers um you they have to go through all of those steps and then they submit the the the minutes and the feedback and and all of that to staff as part of of their proposal. In this case, they had the applications in January and they had until the end of March to complete community engagement. But yes, sometimes um uh leaders or neighborhoods or others can get missed in the mix. And so that's one of one of the reasons that we have, you know, additional opportunity um um you in in this interim um to to share information about the projects as needed. So we can follow up absolutely offline. And I just wanted to make sure that um for your colleagues that they uh also heard that response. Yeah, thank you for that, Rebecca. Um I you may have even sent that for me. I know you're very responsive. So, you know, thank you for that. I think um because I know the level of engagement of this particular East Side community, you know, that's one of the things I asked him about. I'm like, "Hey, did you did you talk to Coventry Woods? It's I mean, literally the the guy who held this seat for three terms, he could he could throw a rock at this place. So to say, you know what I'm saying? Like it's so I want to make sure that we do our due diligence there and like I said, hopefully it's just to go, right? Um but that part we could take offline. Um the Karia Farms, let me pull that up. My apologies for not having that pulled up. Um Kia Farms. Yeah. 22. Thank you. Thank you, Miss Mich. Um, so, yay, yay, and yay. Wow. Wow. Awesome. Right. Um, a Lisk partner. Uh, the mayor actually headlined that event with Lisk. We were in the room with all of those, you know, future and upcoming developers um that will be a part hopefully of what our future entails from a development perspective and to bring two of them into the fold for this particular opportunity is I believe outstanding forwardthinking work. uh Kingdom Development, Harmon Construction, both great partners in the community, actively engaged, going through just mixed income, just yay, yay, yay, high five. Yay. Um and um the chair of the uh housing um committee, she she brought up a good point about the mixture in our for sale units and our rental units. So, I I'll let them because I'm not a part of that committee, but I'll stay tuned, you know, to not take up too much time today to kind of see, you know, what the future, I guess, ideas are about how we execute with this. But like I said, you guys have offered us a very diverse list. I I will say this out loud while I have the ability to speak in that um Oh, oh, and Woodford the stakes, that's uh Mark Eidge and crew. Um I've already spoken to Mark. Um, I'm really excited to see him take on another endeavor for East Charlotte, um, where we'll be able to save 228 units potentially with this particular impact. So, great job there. Um, but I I will say this, um, a lot of the residents of District 5 in East Charlotte tend to tell me that we get all of the affordable units, and in this case, it's it's not the case, right? It's it's literally only three on this long long list and we've really diversified where these are in our city. Right. So I I see you guys being forward thinking. I see you using every opportunity to divide these opportunities, you know, across districts with the largest right now actually being in district one it looks like. Uh but there's still others that are spread throughout. So um for the most part, great job. Look forward to taking the rest of the conversation offline. Thank you both. sure for your work on this. Thank you. We have Miss Azmeir and Mr. Graham and coming around. Thank you. But I have three points. Uh I also like to echo the excitement uh of Mr. Mitchell. I think great job uh Warren uh Rebecca, the entire team for bringing this forward. It's great to see uh how much how many proposals we have received. uh and it's also gotten more competitive than the ones we had seen in the previous years. So, it's great to see um I've also seen where the funding investment per unit has gone down significantly which means we can stretch our dollar further and build more units. Um so, great job on that. So, uh three points. One, I appreciated how we have invested heavily in 30% AMI or below because I know there were studies done that showed the need was greatest at 30% AMI or below. So currently we have over 20% dedicated to 30% AMI or below. That shows we are serving the most vulnerable population. Um so kudos to you uh in in really addressing a area that is very difficult right. Um, second, I echo uh comments made by my colleagues in terms of expanding our reach to new partners, new developers, right? Uh because I hear often that it's the same partner that we have always worked with. Do you know uh do other developers have a shot? Uh so it's great to see that we are doing that. Um number three, I have questions about um affordability period. It's great to see that we have seen some really 99 years all the way I mean 9950 that's great compared to what we had seen in previous years. Um so one I would highlight is um Habitat's proposal uh that's in district 5 that council member Molina had raised. I think that's great. Uh but I see years of affordability is 15 years and even the investment per unit is 51k per unit. Could you speak to that because I do see another home ownership which is by Dream Key where uh affordability time frame is double and the investment per unit is less. Uh so obviously we want to do more home ownership projects because that's where residents get an opportunity to build uh generational wealth. So if you can just speak to that. I see Habitat team is here. Thank you for all the hard work that you do and bring the proposals forward. Um and um yeah, I would like to understand more in terms of that. They have three proposals for home ownership and all three have 15 years. Yeah. So, so again there are multiple ways to accomplish um affordability in home ownership. Um and and the Habitat model is is specific to um to Habitat. and they work they work with homeowners from you know all the way from the point of uh interest in home ownership um through getting folks ready prepared um with you know budget-wise their um their families actually participate in um the you know activities of of creating the homes. Um so they have a very specific model and in this model the initial affordability period is 15 years. So that's what's what we refer to as the resale provision. So if within that 15 years the home is sold then it has to be sold to another household that's also 80% um AMI. So it's remains affordable. Um but the rest period of restrictions actually extends another 30 years beyond that. meaning that up until the 45 years, uh so if it's after the 15 and before the 45, then when if that home is sold, there's not a resell provision, but there is a right of first refusal, which gives Habitat the opportunity to purchase and um recycle and then restart the the um uh affordability period. Um, and also during that time the home cannot be used as a rental. So if it's sold, it has to be sold to another home owner. And then the other thing, again, these these there's not not one way better than another. They're two different models. Um, but Habitat typically uh is through their model working to serve households at lower AMI levels. So if you look at their um their um proposals um they have I know let's see it's in yeah I'd say 50% strong down to 50% in in the various um proposals and so um you there have been times when they served even lower AMI and that was in times of lower interest rates again so there's a lot of constraints in the market there um uh but um you know they're both they're both good models of home ownership. They create uh um uh opportunities for uh building equity for homeowners. Uh they have deed restrictions for um to ensure that they can go back to um other uh homeowners uh at at an affordable AMI level in the future. Uh, and the goal is really uh to allow uh um those new homeowners to build equity and then if they choose to move on from that location, get another household um in into that opportunity. So, Habitat model is a little bit different than Dream Keys. Uh so when they after 15 years it has to be sold to a homeowner that would qualify. So would that 15-year period then start again? Is that Yes. I would I would really like for Warren to help clarify. Thank you. Thank you, Director Hefner. Uh and Council Member Rashmir. I certainly understand the questioning. Part of the struggle here is just the makeup of the way that we do these slides. because we try to fit everything entire to the same format and when it comes to home ownership programs it just doesn't work very well. Um, Habitat uses a very innovative model that includes a shared appreciation uh uh process where over time um the their client their their buyer their their member gets more and more equity of the of that of that house. So early in the process, Habitat actually captures most of the equity. And the reason that we can't say whether it's going to be 15 or 45 years is at the time that the buyer decides to sell the home, Habitat comes back in and does a financial analysis on that property to see if they can take that property back over using the shared appreciation, do the renovations again, and resell it. and and and council's funds have actually been very helpful in helping them recapture more of their homes over time. So that that's why it's very hard to kind of capture this. Um and uh all of these models are good depending on the geography or the situation that you're you're working with. What I really appreciate about Habitat's thoughtfulness is that it really does a good job of balancing affordability and economic mobility, right? You don't want uh these members to not be able to benefit from these properties. And so they have this structured in a very specific way so that the members can benefit and they can still capture these homes. Um and so the the homeowner may sell at 25 and they'll do the analysis and they say this is a great we're going to do a resell and they'll then they'll sell it again and put the same precision or they might decide to pass on that just because it's not economically feasible depending on what has happened in that neighborhood. Um so providing you a little bit more detail into the the model we'd love to put up there 15 to 45 years but it's even more confusing than just putting 15 years. So I I hope a little bit more explanation is helpful in understanding their model. That that is very helpful, Warren. Um I like how they have come up with this innovative model where they're sharing that generational wealth that the homeowner has built because there is an incentive, right? If you're putting sweat equity in it, you should be able to build that generational equity, but also there is an affordability component to it because we are investing. So it's great to see that. Um lastly, I I would um also agree the point Council Member Molina made about community engagement, especially in this uh near this for this town home. Uh I just want to make sure that the community is engaged. Uh I had an opportunity to uh uh join Council Member Molina at their spaghetti dinner. I wouldn't miss that. That is actually that is u that's something I miss being uh at large member uh because I attended their spaghetti dinner almost every every year even even when I was not invited. So um I think because that community is very engaged, we get to make sure they're part of the process. Um and um let me make sure I got all my questions. I know it it was it's a lot uh lot of proposals in front of us. Uh but you know overall I'm just very impressed with the competitive nature of this package. So great work. That's all I have. Thank you Mr. Graham. Thank you Madame Mayor. Um I I won't be impressed until you stand up there for like 24 25 hours right and talk. I have a whole speech for Yeah. Yeah. You could go to Congress at that point. I I shouldn't have had the water is is the thing. Yeah. So So again, let me um um uh pay tribute as as well to staff and uh Council Member Wallington and Mayfield. I remember last summer before the and Sean before we even went to the ballot for the $100 million that they were hard at work during the summer putting the strategy together in terms of how the money would be divided up by percentages and the uh the accounts that we would would attack. I think it demonstrates the best of the council manager relationship, how the council committee worked with the management team to really come up with a formula that works and to come here a year later having passed the bonds uh and now pinning it into action. It's a reflection of the work that was done a year and a half ago, right, by the committee and and the staff. So that that goes um um without acknowledgement that a lot of work has been done uh to this. So thank you for your for your work and presentation to you and and Sean and staff and certainly council member Mayfield in Wington for their leadership. A couple questions. I know we've been here for a while so I won't prolong it. One of the things I was looking at as you went through the slides was just really the uh the city funding as percentage of the source, right? Is there a guideline that you guys try to stay into in reference to the percentage of city money goes in into the project and what's what's those guidelines for me? I'd like to ask Warren to address that. So uh in previous rounds you've had uh cap limits and we've removed those so that uh the developers can really compete against one another. So we we haven't put any uh caps on um those types of percentages because we want developers to be able to bring very intriguing projects. We also have opened up the housing trust fund in the time that I've been here where you're seeing all sorts of things come come in including your supportive housing developments which typically require a much more substantial of your investment to get onto the ground. So what we do now is we look at the cost per door and we also look at that over the year of time proposed as the way that we compare these projects as as one factor of our decision making. So while it's not a hard cap on we'll only put 10% or 20% in, it does act as a way to regulate or govern um how the most competitive uh projects get brought up as a recommendation. Okay. And and then secondly, um innovation and I know that you said that will come in the next round and I'm glad that there is uh you're preserving capacity for for future opportunities. I think that's makes a lot of sense that we're not spending all the money all at once. Um so these projects generally are going to take 18 to 24 months at best to come on the market if everything goes right through innovation. Is there a way for us to get houses to the market quick quicker than that? And I I go back to the whole tiny homes, container homes, those type of innovative um solutions that can get houses on the ground quicker than waiting two years for it to go through its cycle. Yeah, absolutely. I mean, we think about innovation broadly and that and and the the way that you all framed that in your housing policy was bold ideas with potential to scale. So, um there are there are ways there are ways to make affordable housing faster, if there are ways to make it less expensive, if there are are ways to make it um you so it serves more people. Um those are all solutions that we're that we're working to explore. Uh committee had a great conversation last week about innovation and gave us some feedback which included um taking a look at some of those opportunities. Uh that could be done with different types of construction. It could be done with different types of um construction materials. And so, uh, there are a lot of a lot of innovations, um, happening, um, all over that we're going to take a look at and bring some additional ideas back to committee. Um, but there's also a lot of great ideas right here in Charlotte. So, we have some uh uh Warren and his team have been cultivating partnerships with uh industry and academic partners and really looking for those ways to do more, do it faster uh and and make it more affordable for residents. What about internally through planning and permitting? I mean is there things we can do on internally to kind of get these uh uh projects to the market quicker? Yeah, we we are we are always looking for process improvements uh and and opportunities to move the um the the developments through to approvals more quickly. Our staff uh works very closely with planning. You know, they get engaged right from the very beginning. you know they they do reviews of the prop uh um proposals even before they come to you. Uh and so um we we have been working directly with developers um in feedback sessions um over the last six months or so. Um planning and housing staff together have been convening folks and and we hear consistently a couple things, right? Make the permitting faster. Um so we're exploring some opportunities where we might be able to do that. Um and then and then also some some additional types of incentives. Um so um we we are exploring both of those things. We just haven't brought a solution forward to you quite yet. Okay. I I hope that we can explore that and maybe council Wington and as the committee kind of talks further about um to market quicker through planning and permitting. I I see a lot of nodding in the head from some of the end users over here saying please help me get it u I think that's 18 to 24 months it's it's a long time right I I get it quick for construction so if we can carve some of that time off from the front end to expedite projects that coming through planning for affordable housing uh kind of get them to the front of the line so to say uh I I think that may be something that we could we should look at if we can do it legally um through a process. Uh and then lastly, and I'll be quiet. Um two points. The no parking um doesn't work. Trust me, I got the phone calls from a project in my development in my district. They still will have cars and they will park the cars on the streets and then they will call their district rep to help solve the problem and I can't. Right. So, just as a commercial there. And then lastly, Brooklyn Village. I I hope we proceed with caution really. I mean, it's been like almost a decade that the folks on the 11th floor have been working towards this and we're talking about $13.5 million, which is our largest allocation for for the trust fund. Um, I would love to see it develop before I leave the earth. Right. So, I think I got another good 40 years left hopefully. Right. I'm I'm the Graham stock is good. Trust me, we got we got like we got like two or three people in my family over a hundred, right? So I I'm just hoping I'm one of them, right? So So I would love to see this happen. I'm not optimistic about the development team just based on 10 years of reading news clips and so certainly I understand the history and the tradition and the the legacy and what they're trying to do over there proceed with caution and instead of us convening maybe they should be convening inviting us in to see how we can be a part of this versus us trying to solve their problem that they haven't been able to solve over a decade. So, just a careful warning. You're here. Okay, Mr. Driggs. No, I was just agreeing with him. Do Do you have any comments? Uh, actually a number. I won't keep everybody. I just wanted to know why are there only 3% uh three 9% applications? Don't we have more of those? because the hit rate on those tends to be about 50%. So there there are more of them that came forward um and um and the so two of them have been proposed for um approval and then um I'd have to go back to the summary, but I think it's three that we um have actually recommended for deferral. And one of the things is historically um you have yeah so there's there's two 9%s in the deferral list. Historically you have approved all of the 9%s across the board and then taken a wait and see approach with the housing finance agency. Um but through the housing the new housing funding policy, you are asking a lot um of your development partners and the two on the deferral list are partners that uh that we believe um you could benefit from additional time to work and refine the proposal. So it doesn't mean that they missed the 9% opportunity entirely. It potentially means that they would have to go in in the next round of of tax credits which is a year from now. So if we're cutting ourselves off from potential rich 9% deals, should we go back and reexamine what it is that's causing few I mean I see on this big spreadsheet this one I see three applications only three. Uh and uh like I say, those are rich. We we want to make sure that we get the as much benefit as possible. So anyway, that that's just a question. Thank you. Sure. Thank you. And Miss Brown, well, about time. About time. But you know, with all due respect, I know everybody has a lot to say when it comes to um affordable housing. So, I did take some notes um in retrospect of what everybody else has said. So, starting out, I would like to um first say thank you to uh director Rebecca Hefner and uh Warren, where do you go? He has he actually has to catch a flight. He was uh I I begged him to stay with me as long as he possibly could. Uh so, he he just stepped out, so that's okay. Fine. Um and then I also would like to say a huge congratulation to um Dr. Watson who is our chair and um council member Mayfair. I know when I ran against you closely in 2022 you had that out there and to see it come into um this agenda which is just simply amazing. Mr. Heath, who's one of my favorite pe people, thank you for all your hard work and listening to us diligently and trying to work things out. Home ownership for me is absolutely the key. So, I want to shout out Faith Triggs and her team where I personally went over to see the amazing work that they're doing in in my district. I went in my district because my district is important. And so, um, also Mr. Driggs met me over there and we were able to see different models and hear different stories. So, anytime we can do home ownership, I'm going to always be on board for that simply because I hear the horror stories about um renting. Uh it is a waste of money. I know that some people do have to rent um to get to where they need to be. Which brings me to my next topic. So, Faith Triggs, thank you and your team. You guys are doing amazing work. Those homes are beautiful. And for people to come home to a place that they call their own. I love to see it. So, thank you tremendously. And I know I'm not sure if your superior is here. She's here. She was with you. So, I just wanted to let you know your whole team that your work is not in vain. And I really appreciate all the hard work that you all are doing over there in my district. And I know you're doing it throughout. brings me to um I think there was a proposal in district five that I saw that I really really like. For me, seniors are inedible. We cannot ever leave seniors out. But I would have to go back and um defer to my my colleague Mr. Graham when he said parking does not work. These folks are parking anywhere, everywhere, whenever they want to. And so all we're going to hear is about the tickets that they're getting, the toll companies that are charging these astronomical prices. So I like to see the the variety of what we're doing, but I just don't think that will work. And and with our seniors, I I definitely want to see us catering to them. I know my mom would not ride the bus. She's you can have the bus stop outside and blow the horn four or five times. She ain't going to come out there and get on it. She's just not going to ride the bus. Um that's another subject for another day. If we can go to slide four though, please if you don't mind where we started. Slide four is you know it's at the very very beginning and um it says housing story and so we're looking at more holistic focus on residential outcomes, economic mobility, neighborhood affordability, residential stability. That's all good. I love to see that. Um I'm trying to go in order. I think number 19. I am definitely um slide 19 which puts Brooklyn Village multifamily. I got a lot of phone calls about Brooklyn Village and so it looks like Brooklyn Village has been put on a deferment list and we're saying proceed with caution on Brooklyn Village. I would like to get more information about the deferment and what we're proceeding with caution about um in that area historically like the Bethlehem Center which is very near and dear not just to me but to to some other people uh we didn't know that it didn't sell until um I think I was told in December of last year across the street from Brook Hill across the street from Brook Hill all tied together though the community the historic site y it's in close proximity where you the folks in Brooklyn Village flew in that Bethlehem Center and it was demolished. And so I I didn't, you know, know about that. I know that you went that you made a decision um in city council in 2020, but I wasn't here, but I'm here now. And so it's only right that I asked about it and and tie it into the historic site. So Brooklyn Village is definitely something that I'm cheering for to move forward. 99 99 years will serve for generations and generations to come for me. And what I see and what I hear from a lot of people is bright, shiny, and new. That is that is that is awesome. I love to see nice buildings going up. But I also can go to a city like Philadelphia and see historic sites where there's small business owners, rows and rows and rows of them, rows and rows of his historic buildings that are still standing. So I'm a number one contender for that in in Brooklyn Village. you know, my grandmother, my mom, everybody lived live lived in Brook Hill outside. So, I'm I'm definitely going to fight with that when we say proceed with caution. I just like to know what that mean because that's historic and I you know, it's might it may have been on the table for decades and we may have been talking about it for decades, but we just need to do the right thing by the city, the community, not just this city council, but the council before this council, the council that's going to come after this council. We just need to make some real um sound decisions and and do the right thing for a change. And just as a point of clarity, Brooklyn Village is proposed at a a site uptown um where you know historically the site of the Brooklyn community. This is this is the um parcel along um Brooklyn and Alexander there where the um it's the Bob Welton Plaza that was recently. Yeah, I know what Bob Walton Plaza is. Okay. All right. And so I want to go down to slide number 26. Um that's the hideway at Kings Park, which ties into what I just said about Brooklyn Village. You made a clarification point of clarification right there. So if I made a mistake, I stand to be corrected. But let's talk about the highway at Kings Park. uh you there it's up against another great project which I'm happy to see that but as a district rep of course I'm going to be pulling for things that are in my district you know I was elected by the people in district 3 for a reason to represent them to be the voice to stand courageously and when something comes up that look like it's going to be uh enticing for them to stay in their community again history you know wiping everything out I don't want to see that um I do vote on a lot of development projects projects that are bright, shiny, and new. I would also like to vote on projects that could add history and still instill value into our community. And then so um with that being said, I really appreciate all of the work that you and the team have done. It is it is it it speaks volumes of your hard work, your dedication, your commitment because again it's very very competitive but you've taken it and you've dissected it and you've brought back some very very competitive good information to us but I always would like to say that our history is disappearing in the city. It really is. I welcome all new people. People call me a unicorn when they see me. At the end of the day, we need to try to hold on to as much history as we can in this city. Everybody is selling everything. Everything is being knocked down and I'm just not with it. That's not something I support. And so, thank you so much. Thank you. Okay. Um, I cannot believe that we've gotten all of this good information out and all of the good feelings that we have. And I think Miss Brown, as you said it, let's just get this done. Let's just do our good work. So that is the end of our um program on the housing process. And I want to say thank you and you know, please feel free to contact any one of the team members on this because there's a lot of good information. If you need it, they've got it. So let's keep going. So the next thing that we have is our public hearings. Um the first public hearing. Do we have any speakers for the public hearings, madame clerk? So I'm going to go the first item is public hearing on the housing and community development fiscal years 2026 2030 consolidated plan and fiscal year 2026 annual action plan as well as a public hearing on section 108 loan guarantee application. Do I have a motion for those two items? Yes, Mr. D. So moved. Second. And we have a second. Is there any discussion? Hearing no discussion. All in favor, please raise your hands. Anyone opposed? That passes then. And so our our next um was a public hearing. Oh, we did that one already. We had the public housing session. Close session. So now if Mr. Fox, will you give us the motion? No, you have some more public hearings. Oh, we have more public hearings. the public hearing on the I did we have nine and we have nine eight nine okay you did both I think I did both of them together that's what okay sometimes I can't figure out what I've done myself so that's okay all right so we've done that so we now need a motion for closed yeah madame mayor and council need a motion to go into close session pursuant to North Carolina Journal statute 160 I mean 143- 318 1183 to consult with the city attorney to preserve the attorney client privilege in the matter of claim number VACC-en 137163 and North Carolina Journal statute 143-318 11810 to view recordings released pursuant to North Carolina Journal statute 132.1.4A. You've you have second you've got a motion and a second. All in favor, please say you yes. Yes. And anyone opposed. So, at this time, for those of you that have sat through the entire housing discussion and everything else that you want to know about local government, thank you for being here. And now you get to go home. [Music] Heat. Heat.