October 23, 2018Asheville City Council
From the minutes, not yet reviewedWhat it does
Applies for $100,000 from Federal Home Loan Bank of Atlanta “community hero” program…
- Passed with the routine items, in one vote, without discussion.
- Who it's for: Households earning up to 20% of the area median income: up to $20,480 a year for a family of four, or $14,340 for one person (HUD's 2026 income limits for tax-credit housing in the Asheville area).
- Why it matters: An application asks for money. The City gets it only if the grant is awarded.
More from the minutes
- “This Initiative will support Council’s 2036 Vision of An Equitable and Diverse Community, A Thriving Local Economy and Quality Affordable Housing.”
- “Pro: This FHLB Initiative will assist local eligible employees,with household incomes of 81-120% AMI, purchase a home within City limits through down payment assistance.”
- “To serve law enforcement officers, firefighters, other first responders, and public school educators earning between 80% and 120% (as published annually by HUD) of area median income (AMI) to purchase a home under locally structured partnerships within City limits.”
Official title: Resolution authorizing the City Manager to apply for $100,000 from Federal Home Loan Bank of Atlanta “community hero” program for down payment loans to enable law enforcement officers, firefighters, other first responders, and public school teachers earning between 81% and 120% (as published by HUD) of area median income (AMI) to purchase a home under locally structured Partnerships
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilwoman Mayfield and carried unanimously.
Read the motion as recorded
“RESOLUTION NO. 18-272 - RESOLUTION AUTHORIZING THE CITY MANAGER TO APPLY FOR $100,000 FROM FEDERAL HOME LOAN BANK OF ATLANTA “COMMUNITY HERO” PROGRAM FOR DOWN PAYMENT LOANS TO ENABLE LAW ENFORCEMENT OFFICERS, FIREFIGHTERS, OTHER FIRST RESPONDERS, AND PUBLIC SCHOOL TEACHERS EARNING BETWEEN 81% AND 120% (AS PUBLISHED BY HUD) OF AREA MEDIAN INCOME (AMI) TO PURCHASE A HOME UNDER LOCALLY STRUCTURED PARTNERSHIPS”
Open the minutesConsent agenda, item J