DDA Renews Near North Housing Grant
At its Sept. 7, 2011 meeting, the Ann Arbor Downtown Development Authority board voted to renew a grant to Avalon Housing that the board had originally approved two years ago for the Near North affordable housing project on North Main street.
The grant is for $400,000, with another $100,000 available if the project achieves LEED certification. The grant would be paid when the project receives a certificate of occupancy, and a waiver of all liens. Avalon must also have an agreement in place with the city/county office of community development to ensure that income eligibility requirements are met for all residents.
The income eligibility requirements for the 39 units in Near North are based on affordability as defined for two categories of apartments. … [Full Story]