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Charlotte council hears progress on $100 million housing bond; staff briefed on innovation pilot and low-interest loan pilot
Summary
Council members reviewed the city's ongoing implementation of the $100 million housing bond, discussed an innovation pilot fund and a proposed low-interest revolving loan to extend affordability, and asked for details on income bands and rental amounts used in project underwriting.
Council members received an update on implementation work for the $100 million housing bond voters approved last year and discussed program design details for several funding categories.
Council Member Brown (committee chair) said bond investments are being allocated across categories including rental housing production, home ownership, rental preservation, supportive housing and shelters, housing rehabilitation and emergency repair, an innovation pilot fund, site acquisition, and administration and evaluation. "Out of that 100,000,000, we've decided to invest in…
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