It is the goal of the City of Gastonia to partner with community agencies, developers and contractors to create, develop and construct affordable, multi-family housing units. Priority is given to those parties approved by the North Carolina Housing Finance Agency through use of is Low-Income Housing Tax Credit which provides multiple funding sources and subsidy layering as an integral part of the HOME funds match requirement. This feature allows for the opportunity to create as many affordable housing units as feasibly possible while incorporating other sources of available funding. Activities/projects may be new construction or rehabilitation. Evaluation of eligible proposals will be evaluated by 1. HOME Underwriting criteria as outlined in 24 CFR 92 and 2. Score ranking of applications that meet the underwriting criteria. Note: Each applicant must complete the Excel version of the HOME Multi-Family underwriting template and include the document as part of the application along with the project proforma.
