City of Raleigh Awards $3,100,000 Financial Services Contract to South Creek Development (January 2025)

The City of Raleigh re-authorized a $3,100,000 conditional commitment of gap financing to South Creek Development for the Maple Ridge affordable rental project, updating the agreement to reflect a revised Area Median Income unit mix. The commitment supports construction of 146 income-targeted units under the Low-Income Housing Tax Credit program.

Document date · January 7, 2025

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Scope & details

The full contract record, as filed.

Contract amount

$3,100,000

Contract type

FINANCIAL_SERVICES

Renewal

This is a reissuance of a previously approved conditional commitment; underlying LIHTC and City terms continue unchanged except for the unit mix adjustment.

Document type

Minutes

Source document

City of Raleigh Council Minutes 2025-01-07

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of Raleigh?

South Creek Development was awarded this financial services contract by City of Raleigh, as recorded on January 7, 2025. The contract value is $3,100,000.

How much is the South Creek Development contract with City of Raleigh worth?

The South Creek Development contract with City of Raleigh is valued at $3,100,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in City of Raleigh Council Minutes 2025-01-07 (Minutes), dated January 7, 2025 from City of Raleigh. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does South Creek Development hold?

South Creek Development may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View South Creek Development's profile

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