Orange County NC Website
1 <br /> <br />POLICY FOR <br />IMPACT FEE REIMBURSEMENT n^~T FOR AFFORDABLE HOUSING <br />Elitribility Criteria: <br />1. 1~-~01(c)(3) non-profit organization which (1) develops <br />__~~___ `cz:__j affordable housing for first-time homebuyers <br />with incomes at or below 80~ of the HUD published area <br />median income for the Raleighf-Durhamf--Chapel Hill, North <br />Carolina MSA, or (a) develops affordable rental housing for <br />persons with incomes at or below 60`k of the HUD published <br />area median income for the Raleigh/Durham - Chapel Hill, <br />North Carolina MSA. <br />2. Affordable Housing is defined as (1) owner-occupied housing <br />which can be purchased for no more than 2.5 times annual <br />family income, or (Z) rental housing for which the occupant <br />pays no more thaw 309k of gross income for all housing costs, <br />including utilities. <br />3. ~ An organizatione• requesting impact fee reimbursement <br />must certify in writing that, for owner-occupied ~e <br />housing, it will remain affordable to the anticipated <br />beneficiary or beneficiaries for a period of a~~~ a <br />minimum of twenty (20) years or at least as long as reQuired <br />by applicable HUD policy. For rental housing, the <br />certification period is ninety-nine (99) years. The rental <br />housing certification must be secured by a "deed covenant," <br />recjuiring repayment to Orange County of the impact fee if <br />the rental housing does not remain affordable during the <br />period of affordability, which covenant will be further <br />secured by a cote and deed of trust. Evidence must be <br />provided that agency and/or program guidelines are in place <br />to assure affordability compliance. <br />Procedure• <br />1. An organisatioa recuesting impact fee reimbursement must <br />anticipate reimbursement needs for a gives fiscal year and <br />submit a reQuast for fee reimbursement at the time for <br />submissioa of the County's annual budget, non-departmental <br />funding reQtsests. Further, at no time should an <br />organisation presume impact fee reimbursement, and in <br />particular, psesume a lump sum reimbursement paymeat or <br />tota~ntisbursemeat payments in one fiscal year. Therefore, <br />the c~-r o! impact fees should be considered when developing <br />hout#;1Cevelopment projects and should be included in all <br />gram loan applications. <br />Written request for impact fee reimbursement should be <br />submitted to the Orange County Housing and Community <br />Development Department prior <br />to the anticipated date the building permit will be <br />obtained. The request should include all information <br />necessary for a determination of eligibility, including so <br />much of the following that is pertinent: a description of <br />the anticipated beneficiary (homeowner or tenant), a <br />detailed i~~~=r~••~' '~~••-~ construction budget, a~ an <br />estimated completion date, the house selling price or the <br />proposed rent schedule, including utility costs. <br />3 <br />