The Chapel Hill Town Council authorized the development of an Affordable Housing Development Reserve that will be used exclusively for development and preservation of affordable housing, during their Monday night meeting. The fund will focus on land acquisition, rental subsidy and development, and future development planning, among other areas. The guidelines for the use of these funds are being established by the Housing Advisory Board.
Input was also provided on a referendum plan, which will allow the process to begin. The $40.3 million bond, which would require no new taxes, would fund capital projects in Chapel Hill.
The Council also requested additional review and neighborhood input on a proposal for a Town parking lot at the corner of West Rosemary and North Graham Streets.
Retiring Chapel Hill Town Council member Matt Czajkowski was honored by the Council Monday night at its meeting. He has served on the Council since 2007 and is moving to Rwanda to help in the fight for clean water.
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