Town Council Approves Funding for Tanyard Branch

On April 26, the Chapel Hill Town Council approved the allocation of up to $1,950,000 in affordable housing funding to the Tanyard Branch Trace Project (formerly Jay Street). The Council approved a rezoning for the project in April 2022, which allows for 48 affordable apartments as well as a community building, playground, and an accessible connection to the Tanyard Branch Trail. The Town’s development partners, the Taft-Mills Group and Community Home Trust, are working to secure the remaining funding and permits needed to begin construction, including an application for a 9% Low Income Housing Tax Credit (LIHTC) from the North Carolina Housing Finance Agency. The Town funding is contingent on the project receiving a LIHTC award in 2023.