make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Wilmington Housing Authority receives $13.0 million tax credit award

READ MORE:
whagrant300.jpg

Wilmington, NC - 138 Wilmington families will enjoy living in a newly renovated public housing community to be modernized with proceeds from a $13.0 million tax credit award. Sixty apartments have already received substantial interior renovations at the housing complex with funding provided through the American Recovery & Reinvestment Act of 2009 (ARRA). The tax credit award represents the maximum award allowed and the largest single tax credit grant awarded in North Carolina this year.

Due to the present state of the Housing and Finance markets, the tax credit award is expected to net WHA approximately $9.1 million in construction funds. Gap financing will be provided by the Wilmington Housing Authority and an additional loan from the North Carolina Housing Finance Agency. Construction is expected to begin in 2011. The project will be accomplished in phases so as to minimally disrupt the community.

WHA Chairperson Debra Hays says, “Once again, the Wilmington Housing Authority has proven a formidable player when it comes to securing competitive funds for the citizens of Wilmington and New Hanover County.” "These funds will breathe new life into Creekwood South", says WHA Chief Executive Officer, Michael J. Krause. “This award allows us to modernize an aging but otherwise viable property, replace deteriorating infrastructure, and build to modern code standards.”

Creekwood South will include 2, 3, and 4-bedroom apartments that will be home to as many as 1,320 residents.

About the Wilmington Housing Authority: The Wilmington Housing Authority was established in 1937. Prior projects initiated by WHA include 130 single family homes at Sunset South, 48 units of affordable family housing at The Pointe at Taylor Estates, 96 affordable apartments at Robert R. Taylor Senior Homes, and 48 townhomes at New Brooklyn Homes at Taylor Estates (currently under construction).

INFORMATION FROM A NEWS RELEASE SENT TO THE WWAY NEWSCHANNEL 3 NEWSROOM...

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

They're talking

about housing 138 families. But then they also talk about 1,320 individuals. That's almost 10 individuals per family on average.

Are they serious? Are they planning to shoot a reality show similar to that one with 19 kids & counting?

Even if all the units are 4 bedroom units, how do you house up to 10 people in one unit? And that's an average number; I guess some families have more and some have fewer.

Is WHA fostering a production line for future entitlement takers when it forecasts that many people? 10 people on average per housing unit. Are they serious?

So why waste resources on 2 bedroom units? Why not make them all 4 bedroom units?

And why not undertake a Habitat for Humanity approach? Let the future residents do some sweat equity time at the property. They may not be electricians or plumbers, but they can cut grass; clean up construction debris; spread paint; and so forth.

With a net tax grant of $9,100,000 that works out to almost $66,000 per family housing unit.

What steps are they going to take to mandate that occupants display some pride of occupancy? Will they be required to maintain the grounds when construction is completed? Will the City police the community and take dealers and thugs into custody? Will WHA monitor the parking lot and inquire into the ownership of the SUVs and other luxury vehicles which often appear?

Has anyone caught on this great thing is coming out of the hide of the dwindling number of tax payers? Sooner or later, the tax paying carcass rolls over and kicks its feet in the air as the final breath of life is entitled out of it.

Why repeat the past?

It's too bad we could not get 13 million $$ to create JOBS so people would not need public housing.
So how is "hope and change" working for all you employed taxpayers out there?