CONTRACTAMENDED

City Adjusts AMI Terms for Cottages of Idlewild

Disclosed value: Approximately $4.2 million construction loan from Self-Help Credit Union noted; no direct City payment amount specified; From minutes
Document date: May 6, 2025

What it covers

Raleigh approved a change to its agreement with Raleigh Area Land Trust, Inc. for the Cottages of Idlewild so that, if Self-Help Credit Union forecloses on its construction loan, all units may be rented or sold to households earning up to 80% of AMI. The adjustment preserves project feasibility while remaining within the City’s legal authority for the land conveyance.

Who holds it

Raleigh Area Land Trust Inc holds this contract with City of Raleigh. Its other public contracts on record include work for Wake County and Town of Raleigh.

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Contract details

Amount: Approximately $4.2 million construction loan from Self-Help Credit Union noted; no direct City payment amount specified
Document date: May 6, 2025
Vendor: Raleigh Area Land Trust Inc
Agency: City of Raleigh
Source document: City of Raleigh Council Minutes 2025-05-06 (Minutes)

Raleigh Area Land Trust Inc's other public contracts

Wake County, North CarolinaAffordable housing loan awarded to Raleigh Area Land Trust · Nov 17, 2025$234K Town of Raleigh, MississippiRaleigh Backs Cottages of Idlewild with $700K Gap Funding · Feb 6, 2024 All Raleigh Area Land Trust Inc contractsVendor profile

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Questions about this contract

Who was awarded the government contract by City of Raleigh?

Raleigh Area Land Trust Inc was awarded this government contract by City of Raleigh, as recorded on May 6, 2025. The contract value is Approximately $4.2 million construction loan from Self-Help Credit Union noted; no direct City payment amount specified.

How much is the Raleigh Area Land Trust Inc contract with City of Raleigh worth?

The Raleigh Area Land Trust Inc contract with City of Raleigh is valued at Approximately $4.2 million construction loan from Self-Help Credit Union noted; no direct City payment amount specified.

What type of contract is this?

This is a government contract, documented as a minutes record.

Where was this contract approved?

This contract appears in City of Raleigh Council Minutes 2025-05-06 (Minutes), dated May 6, 2025 from City of Raleigh. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Raleigh Area Land Trust Inc hold?

Raleigh Area Land Trust Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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