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Wilmington Council to Weigh $1.5 Million in Affordable Housing Gap Financing

August 25, 2026 government, public meetings, wilmington, city council, affordable housing

The Wilmington City Council reviewed a resolution that would authorize the City Manager to enter into an agreement with Dawson Lofts II Apartments LLC for gap financing for a new affordable housing development, using $1,500,000 from the city's Affordable Housing Fund.

Staff member Gilbert Combs said the project is expected to be a Low-Income Housing Tax Credit (LIHTC) development through the North Carolina Housing Finance Agency, which typically requires site plans and elevations similar to those seen in rezoning cases.

A council member questioned why detailed plans were not included in the council packet, saying she wanted to see plans as soon as possible when the city contributes funds to such projects to ensure they align with the city's vision. "If we're going to be contributing funds, I just want to make sure that we're in line with ourselves there," she said.

Councilmember Lau asked to see the current balance of the Affordable Housing Fund and other related funding sources, noting the applicant has requested more money and that LIHTC budgets are "really, really, really tight" and depend on local support. Staff agreed to provide the plans and fund balances.

Watch the discussion:

Source: Agenda Briefing August 17, 2026

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