RR-2026-CH Bonds
Town of Chapel Hill 2018 Affordable Housing Bond – Rapid Response Special Report
- The Town of Chapel Hill issued the voter-authorized $10 million affordable housing bond in two series, in May 2021 and March 2023, and received approximately $10.4 million in net proceeds. Of this amount, approximately $10.2 million was allocated to eight affordable housing projects.
- Through eight projects, the Town planned to provide 343 affordable housing units. As of June 2026, 124 units had been completed and, of those, 98 units were occupied.
- As of June 2026, the Town had disbursed approximately $3.64 million in Affordable Housing Bond proceeds for these projects.
- The Town did not timely address federal arbitrage requirements associated with bonds, resulting in rebate liabilities of $389,292.84.
First Published