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ORAGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: June 2, 2009 <br />Action Agenda <br />Item No. (~ -~ <br />SUBJECT: Transfer of Chrysalis Properties <br />DEPARTMENT: Housing/Community Dev. PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Spreadsheet -Chrysalis Properties Tara L. Fikes, 245-2490 <br />PURPOSE: <br />1) To approve the transfer of 17 properties currently owned by the Chrysalis Foundation <br />for Mental Health, Inc. to Community Alternatives for Supportive Abodes (CASA); <br />2) To approve the transfer of one triplex to Cross Disability Services, Inc (XDS); <br />3) To authorize the appropriation of $145,290 from Community Development Program <br />Income to finance the transfer and stabilization of these units; and <br />4) To authorize the County Attorney's Office to prepare the necessary documents to <br />complete the transfer and authorize the Chair of the Board of the County <br />Commissioners and the County Manager to execute the necessary documentation. <br />BACKGROUND: In mid-January the County received notice of the pending closure of the <br />Chrysalis Foundation for Mental Health, Inc. - (a local non-profit organization) due to financial <br />insolvency. <br />The Chrysalis Foundation for Mental Health, Inc. was initially known as the OPC Foundation for <br />Mental Health and was established with the assistance of the OPC Area Mental Health Authority <br />as a separate foundation. The purpose of the foundation was to acquire and hold property for <br />the Area Mental Health Authority and to subsequently lease that property to persons with <br />disabilities. The Foundation has operated for approximately 10 years and currently owns 20 <br />units in the County with 18 of those units currently under lease to persons with disabilities. Most <br />of these properties are located in the Towns of Carrboro and Chapel Hill with one property <br />located in the unincorporated area of the County. <br />Eight (8) of the 20 properties were partially financed with HOME Investment Partnership funds <br />totaling $413,625; and approximately twelve (12) properties were financed with Orange County <br />Affordable Housing Bond funds totaling $560,000. A total of 12 properties have a private first <br />mortgage with Roxboro Savings Bank and Orange County holds a second mortgage on each of <br />these properties. Attached is a spreadsheet of the subject properties. <br />