FY 27 AHSP Taft-Mills Group New Construction Loan Report
Staff Decline to Recommend AHSP Loan for Vista Trace
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Description
Buncombe County staff reviewed a $750,000 AHSP loan request from Taft-Mills Group, LLC to support the 137-unit Vista Trace affordable housing development in Asheville. Staff concluded they could not recommend a loan award at this time, noting that revised project assumptions may remove the funding gap.
Contract Details
Contract Amount
$750,000
Vendor
TAFT-MILLS GROUP LLC
Agency
Buncombe County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
April 4, 2026
Contract Term
20-year term at 2.00% interest, annual payment from cashflow with principal balloon
Renewal Info
Initial application for AHSP funding not recommended for award; applicant may reapply in a future round if a funding gap is identified based on revised proforma assumptions.
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