Buncombe Panel Backs Tougher Housing Loan Terms, 4-1, Over Developer Worries
Affordable Housing Subcommittee • Buncombe CountySeptember 1, 2026
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Buncombe County's Affordable Housing Subcommittee voted 4-1 on Sept. 1, 2026, to send the full Board of Commissioners a tougher set of Affordable Housing Services Program (AHSP) loan rules. The package puts county repayment first and drops the case-by-case exceptions developers have leaned on. Members also learned how state disaster-recovery rules left the county hit hardest by Hurricane Helene with the smallest award, and its flagship Cox Avenue project facing a $15M gap.
- AHSP overhaul advances 4-1 to the Board's first October meeting, ahead of November and December application windows.
- Developers must defer at least 10% of fees, and county loans shrink dollar-for-dollar if that deferral drops.
- County claims 50% of project cash flow after deferred developer fees. A proposed exceptions clause was rejected.
- Buncombe received the lowest state CDBG-DR award for tax credit housing, and none of its eight 4% applications won.
- Cox Avenue's 203 units face a $15M hole. Members want to press state agencies and brief the Board.
Why it matters: The rules decide how millions in county housing loans are repaid, and they arrive just before the next funding cycle opens. The new terms shift risk and negotiation onto developers, and some members fear they could deter projects.
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