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Project Spotlight: Affordable Housing
On this year's ballot, $50 million will go to the Charlotte Housing Trust Fund, matching private investment dollars, to provide affordable and well-maintained housing for low- and moderate-income individuals and families in the Charlotte area. Below is an example of a recent project made possible by Charlotte Housing Trust Fund dollars.
The Tall Oaks community is centered on preserving affordable housing in response to the needs of the existing residents. The redevelopment plan is within the Cherry community, one of Charlotte's most historic neighborhoods and oldest African American communities. The development consists of 81 units for families with incomes up to 60% of Area Median Income (AMI) utilizing 9% Low Income Housing Tax Credits and $1,215,000 of City of Charlotte Housing Trust Fund. It offers one-, two-, three- and four-bedroom units on scattered sites within walking distance of each other. Amenities include outdoor seating areas, an exercise room, multi-purpose room, computer lab and leasing center.
For more information about the Housing Trust Fund, please visit the city's housing services webpage.
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