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City moves to roll out $4.7 million in HOME-ARP funds; two funding rounds planned for spring 2026
Summary
Staff updated the committee on HOME program allocations (annual HOME ~ $1M) and the one-time HOME-ARP $4.7M allocation: roughly $1M for supportive services, more than $3M for deeply affordable rental development, and about $700K for admin/planning. ICF Incorporated will assist with rollout and two funding rounds are planned for spring 2026.
James Shelton updated the committee on HOME and HOME-ARP funds at the Nov. 18 meeting. Shelton said the city receives about $1,000,000 annually in HOME dollars and described the FY25-26 allocations: $300,000 for tenant-based rental assistance, $400,000 for down-payment assistance, and $587,000 for homeowner rehabilitation. He reminded the committee that because the city participates in the Asheville Regional Housing Consortium the HOME awards benefit the…
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