Commonwealth Development Corporation of America AHSP Application Staff Summary April 2026
City of Asheville CDBG-DR loan requested for project
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Description
The District East Commons project seeks a $1,385,000 CDBG-DR loan from the City of Asheville with a 35-year, 0% interest structure tied to 50% of available cashflow. This city financing would support the LIHTC capital stack for the 93-unit senior housing development.
Contract Details
Contract Amount
$1,385,000
Vendor
CITY OF ASHEVILLE
Agency
Buncombe County, NC
Contract Type
FINANCIAL_SERVICES
Document Date
April 4, 2026
Contract Term
35 years at 0% interest, annual principal payments equal to 50% of cashflow or remaining cashflow after deferred developer fee
Renewal Info
Loan proposed with a 35-year term and cashflow-based principal payments; no explicit renewal options are described.
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