Council Backs $1.3 Million HOME Commitment to Support Princeton Village Tax‑Credit Application

The Birmingham City Council approved a resolution committing up to $1,300,000 in the city's HOME Investment Partnership funds to Princeton Village LTD to support development of up to 96 affordable housing units in the West End and to bolster the project's application to the Alabama Housing Finance Authority for low‑income housing tax credits.

City staff explained that supporting multiple local applications does not prejudice the state's competitive review, and the mayor's office indicated an intent to support more than one quality application from the city. Councilor Sheila Tyson (who represents the district) asked how the city can support multiple applicants and whether funding one application would bar others; staff (Mr. Colon) confirmed the state accepts all timely applications and evaluates them on merit.

Council discussion emphasized district impact, with members seeking to maximize benefits for District 6 residents. The resolution authorizes the mayor to allocate HOME funds to Princeton Village if the project receives AHFA tax credits; if credits are not awarded, the commitment would not be dispersed.

The council recorded the motion as passing with one abstention from Councilor Hoyt.

Next steps: staff will proceed with commitment documentation and, if AHFA tax credits are awarded to the project, disperse HOME funds according to the adopted resolution and the city's HOME program requirements.