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Asheville staff ask council to allocate $10 million in 2024 housing bonds to WNC affordable housing loan fund
Summary
City staff are recommending the City Council approve a $10 million allocation from the 2024 general obligation housing bond to the WNC Affordable Housing Loan Fund, a Self Help Credit Union-administered regional loan pool that provides low-interest construction and preservation financing for affordable housing.
City staff asked the Asheville City Council to allocate $10,000,000 of the 2024 general obligation housing bond to the WNC Affordable Housing Loan Fund, a revolving loan fund administered by Self Help Credit Union that provides low-interest loans for affordable housing projects. The request was presented during the council's Sept. 4 agenda briefing.
The loan fund, created in early 2024 through a partnership between Self Help Credit Union and Dogwood Health Trust, operates on a rolling application basis and is already active in four other North Carolina regions. Assistant City Manager Ben…
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