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2 <br />• Pritchard Place Apartments- Chapel Hill -Open House on October 26th at 11:30 a. m. <br />Tara Fikes said that these units are completed and nine are occupied by low-income <br />citizens with special needs. The County provided $632,000 in Housing Bond money to CASA to <br />purchase this a couple of years ago and used an additional $400,000 in HOME money to <br />rehabilitate the units. <br />Upcoming Tax Credit Projects: <br />^ Eno Haven Apartments- Hillsborough - 76-unit complex planned for Hillsborough <br />Tara Fikes said that the County committed $1 million in Housing Bond funds last year for <br />this project. The developer has purchased this property and has the financing in place. <br />Construction will begin in the next couple of months. <br />Chair Foushee asked Tara Fikes to tell about the County's involvement with this project. <br />Tara Fikes said that this complex is very close to the Triangle Sportsplex. The developer made <br />application to the County for Housing Bond funds in the amount of $1 million to help in the <br />financing of this project and the Board approved the request. The housing is predominantly for <br />persons who are 62 or older or disabled. This will be the largest tax credit complex in <br />Hillsborough. Most of the units are one-bedroom with a few that are two-bedroom. <br />^ Griffith's/Camellia Landing at Winmore -Carrboro <br />Tara Fikes said that the Community Home Trust is partnering with afor-profit company <br />for this project. This development would be 58 affordable rental units in Carrboro. <br />Phoenix Place Habitat for Humanity: <br />This project is in Chapel Hill and is in full swing. Bond money and HOME money is <br />being spent for this project. <br />Housing Authority Board Update: <br />Tara Fikes said that the Chair is James Anderson and the Vice-Chair is Martha <br />Hoyleman. The first order of business is getting them acquainted with the bylaws of Section 8 <br />housing. <br />Commissioner Jacobs asked about the Habitat project in Hillsborough and that it keeps <br />growing. Tara Fikes said that this project is just about built out. <br />III. IDA Program Analysis <br />Ann Gerhardt from the Women's Center said that she and Tara Fikes gave the final <br />report for the IDA Program and Tara Fikes had sent the report out on Friday. She said that the <br />Women's Center was offered an opportunity for 20 participants to purchase homes, but the <br />program only closed on four homes. This fact would make the program not a success. She <br />said that the bad economy did not help. Also, some people were unable to purchase homes <br />because of bad credit. She made reference to the chart on page 4 that summarizes all of the <br />people that were touched by this program. She said that 54 applications were mailed, eight <br />people were enrolled, and 46 applicants were declined. <br />Program Success and Challenges: Although, tremendous effort was made by the Program <br />Administrator to recruit eligible participants, the program fell short of the projected 20 individuals <br />provided for in the grant. In addition to the mortgage industry suffering a major collapse and the <br />subsequent tightening of lending guidelines, key reasons for a small number of eligible <br />applicants include: <br />