OTHERAUTHORIZED

Town of Chapel Hill Town Council Meeting Agenda 2026-06-17

99-Year Ground Lease for Townhomes Approved

Town of Chapel Hill Department of HousingCOMMUNITY HOME TRUSTJune 17, 2026

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Description

The Council will authorize a 99-year ground lease agreement with Community Home Trust for the townhomes in the Homestead Gardens Affordable Housing Development. This long-term lease facilitates affordable residential construction.

Contract Details

Vendor

COMMUNITY HOME TRUST

Agency

Town of Chapel Hill Department of Housing, NC

Contract Type

OTHER

Document Date

June 17, 2026

Contract Term

99 years

Renewal Date

2125-06-17

Renewal Info

Single 99-year initial lease term, standard for affordable housing projects.

Related Contracts

Chatham County Affordable Housing Advisory Committee Report on Housing Investment

DISCUSSED

Chatham county Housing Authority (North Carolina)May 1, 2026

Orange County Board of Commissioners Business Meeting Minutes February 2026

APPROVED

Orange County (North Carolina)Part of $1.5M (amended award)February 17, 2026

Issuing Agency

Town of Chapel Hill Department of Housing

Local Housing Authority

Chapel Hill, NC

View agency profile

Vendor