The City of Fayetteville’s Economic & Community Department announces the availability of funds under the City’s Affordable Rental Housing Development Program for qualified developers to submit proposals for the new construction or acquisition and/or rehabilitation of multifamily or single-family rental units.
Donor Name: City of Fayetteville Economic & Community Department
State: North Carolina
City: Fayetteville
Type of Grant: Program
Deadline: Ongoing
Details:
Eligible Projects
- Projects may include the construction of new units, the rehabilitation of existing units, or the adaptive re-use of existing structures.
- The property must meet the minimum property standards and all applicable building codes upon completion of construction or rehabilitation. Higher scores will be given to projects that commit to meeting Energy Star requirements or better (third-party verification required upon completion of construction/rehabilitation).
- Projects must contain at least four (4) assisted rental units within a four (4) block radius.
- Development of permanent supportive housing, transitional housing, and non-congregate shelter intended for occupancy by lower-income households are allowable projects under this program NOFA.
- The properties must be located within the City limits of Fayetteville or be in the process of annexation prior to staff making recommendations to City Council.
- Projects that are presently occupied must include relocation expenses in the development budget. (NOTE: Tenants cannot be asked to relocate in anticipation of awarding for City funds.
- Projects must have secured site control at the time of application. In the case of City owned property, The City of Fayetteville is open to various site conveyance options, including fee-simple ownership and a long-term ground lease. A long-term ground lease is preferred for proposed rental developments.
- Staff will review applications in the rezoning process; however, staff will not recommend a loan for approval if the site is not zoned correctly for its intended use. The developer shall take full responsibility for any required rezoning.
- Projects for public housing modernization or operations are ineligible activities under this program.
Eligible Applicants
For-profit or non-profit corporations, individuals, general or limited partnerships, or limited liability companies with demonstrated experience and capacity in the development and management of affordable rental housing may apply. Applicants without the necessary experience may be required to attend a developer workshop prior to funding commitment.
For more information, visit Fayetteville.
