Resolution No. TCFC-2025-09
To induce and approve the development of the Thaxton Road Apartments project in partnership with an affiliate of the NRP Group; authorize the negotiation and execution of a term sheet outlining the project details; and address related matters. This resolution serves as a preliminary, non-binding commitment from TCFC. The project, estimated at $78.5 million, will include approximately 280 units with affordable housing components (20% at 60% AMI and 30% at 80% AMI). The resolution also outlines the anticipated fees for TCFC and indemnification provisions. It clarifies that this is not a final commitment and TCFC reserves the right not to proceed with the transaction.
Projects
All projects referenced in this resolution.
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