June 23, 2026Asheville City Council
From the minutes, not yet reviewedWhat it does
Lets the City Manager negotiate and enter into a Development and Sale Agreement with 29 Oak Hill LLC for the sale…
- Passed. Everyone present voted yes.
- Who it's for: Households earning 60% to 80% of the area median income: $61,440 to $81,920 a year for a family of four (HUD's 2026 income limits for tax-credit housing in the Asheville area).
More from the minutes
- “Vertical Build Late 2026 – 2028 6-phase rollout of 42 homes.”
- “Full Completion 30 Months Delivery of all 42 mixed-income units.”
- “The committee discussed a desire to make some townhomes available to households at or below 60% AMI. A substantial amount of down payment assistance would be required to fund the gap with current interest rates.”
Official title: Council authorized the City Manager to negotiate and enter into a Development and Sale Agreement with 29 Oak Hill LLC for the sale and development of the City’s property at 29 Oak Hill Drive, to include 10 townhome units affordable to households earning at or below 80% AMI, 10 townhome units affordable to households at or below 100% of AMI, and 22 units affordable to households at or below 110% of AMI where all units will be affordable for a period of 20 years
Carried unanimously
From the minutes: This motion was seconded by Councilwoman Turner and carried unanimously.
Read the motion as recorded
“Councilwoman Ullman moved to authorize the City Manager to negotiate and enter into a Development and Sale Agreement with 29 Oak Hill LLC for the sale and development of the City’s property at 29 Oak Hill Drive, to include 10 townhome units affordable to households earning at or below 80% AMI, 10 townhome units affordable to households at or below 100% of AMI, and 22 units affordable to households at or below 110% of AMI where all units will be affordable for a period of 20 years.”
Open the minutesMotion text in the minutes