Agenda - 10-19-2010 - 4k - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: October 19, 2010 Action Agenda Item No, SUBJECT: Im act Fee Reimbursement Request— Community Home Trust DEPARTMENT: Housing, Human Rights and PUBLIC HEARING: (Y/N) No Community Development ATTACHMENT(S): INFORMATION CONTACT: Tara L. Fikes, (919) 245-2490 PURPOSE: To approve an impact fee reimbursement request from Community Home Trust for $6,092 for one new home in Carrboro. BACKGROUND: On November 1, 1995, the BCCC approved a policy for impact fee reimbursement to local non-profit organizations that met the established eligibility criteria. This policy was last revised on March 4, 1998. The policy requires the following: 1. Housing must be developed for first-time homebuyers with incomes at or below 80% of HUD published median income for the Raleigh-Durham-Chapel Hill, NC MSA; 2. Affordable housing is defined as owner-occupied housing which can be purchased for no more than 2.5 times annual family income; and 3. The non-profit organization must certify in writing that, for owner-occupied housing, it will remain affordable to the anticipated beneficiary or beneficiaries for a period of a minimum of ninety-nine (99) years. A Declaration of Restrictive Covenants will secure this requirement. 4. The non-profit organization is responsible for providing documentation of impact fee payment. The County has received a reimbursement request for $6,092 from Community HOME Trust (CHT) for a home recently built in Carrboro. CHT has provided evidence that the impact fee for all homes has been paid and the houses have been sold to low-income homebuyers. The request has been reviewed in accordance with the above stated eligibility criteria and determined eligible for reimbursement. Results of Eligibilily Review Household Income: Family #1: Family of three Annual Income: $45,366