April 9, 2019Asheville City Council
From the minutes, not yet reviewedWhat it does
Lets the City Manager allow Mountain Housing Opportunities to refinance the development known as Eagle Market Place by modifying the lien positions…
- Passed with the routine items, in one vote, without discussion.
- Who it's for: Households earning up to 60% of the area median income: up to $61,440 a year for a family of four, or $43,020 for one person (HUD's 2026 income limits for tax-credit housing in the Asheville area).
More from the minutes
- “The proposed new lien priorities (Bellwether Loan replaced TD Bank Loan): 1.”
- “Per City Council vote on November 10, 2015, the Eagle Market Place project was modify the amount and type of its affordable housing units.”
- “The original agreement included 62 units for households at or below 60% of AMI.”
Official title: Resolution authorizing the City Manager to allow Mountain Housing Opportunities to refinance the development known as Eagle Market Place by modifying the lien positions and maturity dates of City of Asheville loans, and amending Deed restrictions existing on Affordable Housing units
Carried unanimously, as part of the consent agenda
From the minutes: This motion was seconded by Councilman Kapoor and carried unanimously.
Read the motion as recorded
“RESOLUTION NO. 19-78 - RESOLUTION AUTHORIZING THE CITY MANAGER TO ALLOW MOUNTAIN HOUSING OPPORTUNITIES TO REFINANCE THE DEVELOPMENT KNOWN AS EAGLE MARKET PLACE BY MODIFYING THE LIEN POSITIONS AND MATURITY DATES OF CITY OF ASHEVILLE LOANS, AND AMENDING DEED RESTRICTIONS EXISTING ON AFFORDABLE HOUSING UNITS”
Open the minutesConsent agenda, item G