Agenda - 02-12-2009 - 1a - Laserfiche WebLink

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Agency Name: Orange Community Housing and Land Trust Mission Statement: To create permanently affordable housing and preserve land for the benefit of the community Orange County Outside Agency Funding: 2007-08: $149,000 2008-09: $149,000 Executive/Program Director: Robert Dowling Website: www.ochlt.org MAJOR SERVICES • Homeownership Program -we develop housing that is affordable to households who earn less than 80% of the area median income • Inclusionary Housing - we implement the inclusionary housing programs of the Towns of Chapel Hill and Carrboro. In this role we work with private sector developers who are asked to provide housing for households earning less than 80% of the median income. Our role is to sell the homes to income-eligible first-time homebuyers and maintain those homes as affordable in perpetuity. OUTCOME MEASURES FY 05-06 FY 06-07 FY 07-08 FY 08-09 Actual Actual Actual Projected Number of homes added to the Land Trust 10 7 11 7 Land Trust homes resold 8 11 11 12 ( FY 2007-08 OUTCOMES Proposed Program Objective Status Actual Results The Land Trust will work with private We closed on the sale of seven (7) sector developers to add 3 new homes to Exceeds Expectations newly constructed homes during the the Land Trust in 2007-08 fiscal year. We completed construction and The Land Trust will develop or renovate closed on one (1) newly constructed another three homes that will also be Exceeds Expectations home. We also closed on three (3) added to the Land Trust. homes that we purchased and rehabilitated. We expect to manage six to eight resales We managed the resale of 11 Land of existing Land Trust properties. Exceeds Expectations Trust homes during the fiscal year. FY 2007-08 CHALLENGES • Please describe challenges your agency faced while trying to reach your program objectives, in FY 2007-08. How did you work to overcome these obstacles? (If no challenges existed, please write none.) The Land Trust began transitioning to a new model in FY 2007-08; a model that requires the organization to become more engaged in the long-term maintenance of our properties. We began using a revised ground lease which placed greater focus on long-term maintenance and we hired a property manager to manage our homeowner associations. The organization also began preparing for the increase in sales volume that we expect to begin in mid-2009. This organizational development work focused on improving our productivity and efficiency, which was helpful in managing the sales activity in 2007-08, which was greater than, expected. • 71