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Durham council approves $44 million conduit financing for Fayette Place Phase 1 after resident questions on local contracting
Summary
Council unanimously approved a resolution authorizing a multifamily housing revenue note not to exceed $44,000,000 for Fayette Place Phase 1 (Villages at Hayti), after community members asked why a bond tranche lacked city UBE/workforce diversity requirements; housing staff and Durham Housing Authority representatives said the conduit bond tranche uses non‑city financing and that diversity goals will apply in later phases and other funding streams.
Durham City Council on Nov. 3 adopted a resolution approving conduit financing for a multifamily project now called Fayette Place Phase 1 (also referenced as the Villages at Hayti) and authorized a multifamily housing revenue note in an aggregate amount not to exceed $44,000,000. The motion passed unanimously.
Anita Scott Neville of the Hayti Reborn Community Advocacy Council asked the council to clarify why the agenda item did not require review by the city’s underutilized business enterprise (UBE) compliance unit or contractor workforce‑diversity reporting, given the project’s location in historic Hayti and community…
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