Town of Davidson Receives Federal Funding for Affordable Housing
The Town of Davidson is poised to receive federal funding for its affordable housing program, specifically those units being planned for the Hoke Townhomes project. The office of Congresswoman Alma Adams (NC-12) announced on March 16 that Charlotte and other Mecklenburg County communities will benefit from over $11 million of the Fiscal Year 2022 (FY22) Community Project Funding requests which were included in the omnibus bill signed by President Biden this week.
“We are so grateful to Congresswoman Adams for her assistance in securing federal funding for affordable housing in the Hoke Townhomes development in Davidson,” said Mayor Rusty Knox. “This support will enable the project to move forward and provide 8 units on the ground for our community. Affordable housing a is key initiative here, and we are thrilled to take this big step forward, together with our partners, to see this project come to fruition.”
In April 2021, Mayor Knox, on behalf of the Town of Davidson Board of Commissioners, requested Congresswoman Adams’ support in procuring the federal funding. The board had previously appropriated $400,000 from the town’s affordable housing budget to build the rental units, which will serve families at 50-80 percent AMI (area median income). The total price for the units is $2.0 million, with the Davidson Housing Coalition taking out a loan for $1.2 million, and the Davidson Community Foundation raising $400,000 in private funds.
The town’s $400,000 contribution would have put a big dent in the town’s affordable housing fund, so federal assistance will be of great benefit to the town.
Announcing the news, Congresswoman Adams shared that “neighborhoods across Charlotte and Mecklenburg County will benefit from the amazing work of these local stakeholders. Over $11.1 million in funding will go to projects that include affordable housing, infrastructure, public health, workforce development, and addressing the increasing level of violence in our community. Thank you to all of these stakeholders for their exceptional work.”
To view the full list of approved projects in our area, please click here.