The master plan to develop a downtown Woodfin is struggling, but it wouldn’t be politically correct to say so. The undertaking, which accepted $12,960,000 in TIFs from Buncombe County, needed a little more cash. The developers, Reynolds Mountain Communities, therefore requested a “supplemental indenture” in the amount of $240,000. The loan would save the project from defaulting, so it was granted.
So far, the development boasts the “state-of-the-art” and “first-class” AvL Technologies facility, which received $4.9 million in federal stimulus via the county. It is also constructing affordable housing that will cost between $800 (1 bdrm) and $1200 (3 bdrm) a month.
