SUMMARY

Project Name: PHA-MACAA Project Apartments

Department: Community Solutions

Start Date: 7/01/2023

End Date: 6/30/2025

PROJECT DESCRIPTION:

This funding is intended to facilitate construction of new affordable rental and homeownership housing units at the MACAA project. Piedmont Housing Alliance and Monticello Area Community Action Agency propose to construction 94 new housing units (rental and for-sale units) and childcare space. At least 80% of the new housing units are proposed to be affordable at not more than 80% AMI for not less than 30 years.

RELATIONSHIP TO comprehensive PLAN:

Chapter 5 : Housing

Goal 1. Funding Commitments

Establish and sustain a funding commitment to address affordable housing needs, tied to requirements to address community goals.

Goal 2. Diverse Housing Throughout the City

Support a wide range of rental and homeownership housing choices that are

integrated and balanced across the city, and that meet multiple City goals including

community sustainability, walkability, bike-ability, ADA accessibility, public transit use,

increased support for families with children and low-income households, access to food, access to local jobs, thriving local businesses, and decreased vehicle use.

Goal 7. Subsidy Programs

Focus and align subsidy programs with community-defined priorities and make

changes to increase the impact of public spending.

Goal 8. Collaboration

Coordinate local and regional housing goals.

PROJECT OBJECTIVES / STATUS:

Objectives: To provide funds for the construction of affordable housing units.

Status: This affordable housing project anticipates the new construction of approximately 66 rental units and 20 homeownership units. Planning is underway and the owner/developer is anticipating Low Income Housing Tax Credit (LIHTC) application submittal in early 2023.