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ORANGE COUNTY <br />BGARD aF C4NII~IISSIGNERS <br />ACTION AGENDA ITEM[ ABSTRACT <br />IUleetin~ Date: Apr'~l ?', 240.9 <br />Action Agenda <br />item Nv. ~- <br />SUBJECT: Develo ment A reement Amendment --Habitat for Humanit , Inc. <br />DEPARTI~ENT.~ HousinglGomm. Development PUBLIC HEARING: ~Y1N~ No <br />ATTACHI~ENT~S}: <br />Letter from Habitat for Humanity <br />Agreement Amendment <br />INFORMATIC3N CUNTACT: <br />Tara L. Fikes, 2452494 <br />PURPOSE: Ta consider approval of an amendment to the Development Agreement between <br />Orange County and Habitat for Humanity of Grange County, NC, Inc. dated February 24, 2443 <br />to revise the completion date from December 3~,, 24~ 4 to December 3~, 24~ 5 for the acquisition <br />and develapment of property on Sunrise Road in Chapel Hill and .authorize the Manager to <br />.execute the amendment upon approval of the County Attorney. <br />BACKGRGUND: In December 2442, the Board of County Commissioners approved an <br />allocation of $254,440 to Habitat for Humanity .of Orange County, NC Inc. ~HH~C} to assist in <br />the acquisition of a ~ ?'-acre tract of land for the future development of affordable housing. <br />County funds were allocated from the Housing Loan Trust Fund and available Community <br />Development program Income. The total purchase price was $440,444. <br />Can February 23, 2443, the County entered into a Development Agreement with HHC~C that <br />required Habitat to submit a sound, site~specific development proposal for the property by June <br />30, 2445 with infrastructure construction to begin by September 34, 2445. HH~C informed <br />County staff that it was unable to meet these target dates and on May ~~, 2445 the BCC <br />approved an amendment to this Agreement modifying the target dates in accordance with <br />HHCC's current develapment timetable. <br />In late May 2005, the County approved a second amendment. It requires that to the extent the <br />Development Application approved by the Chapel Hill Tawn Council is materially different from <br />the proposal that was the basis for approval of the original Development Agreement, the Board <br />of County Commissioners will be asked to approve the new design prior to the start of <br />construction. In October 2446, Habitat reported that it had entered into an agreement with <br />Regions Development LLC who planned to develop a 53-unit subdivision known as Bradley <br />Ridge that would include lots for the planned 3~ houses to be built by Habitat. <br />In February 2009, Habitat informed 'the County that due to current .financial market conditions, <br />Regions Development LLC will not be constructing Bradley Ridge. As a result, Habitat is now <br />asking for additional time to revise its development plans. Specifically, HHCJC is asking to <br />