Cabarrus County launches $2M fund to boost affordable housing

CABARRUS COUNTY, N.C. — There is a new fund to help organizations pay to build affordable housing in Cabarrus County.

Officials said the Revolving Construction Loan Gap Fund provides short-term and low-interest gap loans to nonprofits.

According to the Independent Tribune, it operates outside of traditional loans.

The fund received $2 million from the county.

VIDEO: Charlotte City Council votes against east Charlotte affordable housing complex

Charlotte City Council votes against east Charlotte affordable housing complex

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