Wake County seeks proposals for the development and/or rehabilitation of affordable housing. Projects eligible for Wake County funding must be located within Wake County. Rental units must be affordable to individuals and families with incomes that are at or below 60 percent of the area median family income (AMI). Home-ownership developments or rehabilitation must be affordable to persons earning at or below 80 percent AMI. Funds may be used for construction of new housing, acquisition, and/or rehabilitation of existing housing. Funds may not be used for general operating or programmatic expenses. However, Wake County will consider funding the operation of rental units on a case by case basis. All funding awards are contingent upon approval by the Wake County Board of Commissioners.