Garner council approves Tryan Station conversion to income-averaging, adds lower-AMI units

The Garner Town Council voted unanimously on May 5 to authorize town staff to execute documents converting the Tryan Station affordable housing project to an income-averaging rent structure.

Assistant Town Manager John Hodes told council the project, substantially complete, currently serves households at up to 60% area median income (AMI). Under the income-averaging model he described, unit distributions would be: 47 units at 50% AMI, 108 at 60% AMI, 16 at 70% AMI and five at 80% AMI.

Hodes said the conversion "provides housing at a broader range of incomes," noting that 50% AMI aligns with Garner's lower threshold for affordable housing and that upper-tier units could help town employees who do not qualify at the 60% AMI level.

Council members asked clarifying questions about tax exemptions and commitments; Hodes said the development company committed that, during the town's financial interest period, it would not seek tax-exempt status for the property. He also noted that the Wake County Board of Commissioners approved the same conversion the previous evening.

A motion to authorize the town manager to execute any documentation necessary to effect the conversion was made by Mr. Dillinger and seconded by Mr. Stalins; council approved the motion by unanimous voice vote.

The conversion changes the project's affordability mix, adding units at the 50% AMI level while retaining most units at 60% AMI, which council members described as consistent with the town's affordable-housing policy goals.