Taft Mills Group AHSP Application Staff Report April 2026
Project Assumes NCHFA CDBG-DR Loan for LIHTC Feasibility
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Description
Alta Valley Trace’s capital stack anticipates a $3,000,000 CDBG-DR loan from the North Carolina Housing Finance Agency with 0% interest and a 30-year balloon. Failure to secure this funding could jeopardize the project’s 2026 LIHTC eligibility.
Contract Details
Contract Amount
$3,000,000
Vendor
NORTH CAROLINA HOUSING FINANCE AGENCY
Agency
Buncombe County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
April 4, 2026
Contract Term
30 years at 0% interest, balloon payment at maturity
Renewal Info
Principal due in full at 30-year maturity; no interim payments under assumed terms.
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