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in accordance with the above stated eligibility criteria and determined eligible for <br />reimbursement. Specifically, Habitat has provided evidence that the impact fee for all homes <br />has been paid and the houses have been sold to low-income homebuyers. <br />Results of Eligibility Review <br />1. Income Eligibility <br />Family # Annual Income Family Size Percentage of <br />Median Income <br />1 $27,032 2 < 30% <br />2 $36,100 3 < 50% <br />3 $32,085 4 < 50% <br />4 $38,361 4 < 80% <br />5 $38,816 5 < 60% <br />6 $47,069 8 < 60% <br />7 $25,000 4 < 50% <br />8 $34,628 4 < 60% <br />9 $25,114 4 < 50% <br />10 $35,842 2 < 80% <br />2. All homes have the required recorded Declaration of Restrictive Covenants that <br />provide a 99 year long-term affordability provision. <br />3. Documentation of Impact Fee Payment Yes. Habitat has paid the fee at the time <br />of issuance of the Certificate of Occupancy. Actual reimbursement will take place at <br />the time that the County's Impact Fee Agreement is executed by the Habitat for <br />Humanity of Orange County, NC and recorded in the Register of Deeds Office. <br />FINANCIAL IMPACT: The current balance in the FY 2010 - 2011 budget is $75,419 and <br />expenditure of $72, 293 will leave a balance of $3,126. <br />It should be noted that should the Board wish to continue the Impact Fee Reimbursement <br />Program, there is a need for additional funding for this purpose in the next fiscal year budget. <br />For example, Habitat is currently constructing homes in the first phase of the Phoenix Place <br />subdivision, expects to complete a total of 50 new units there over the next couple of years <br />and may request reimbursement of the associated fees of $7,616 per house., Other non-profit <br />organizations with projects undennray may also have similar requests next fiscal year as well. <br />RECOMMENDATION (S): The Manager recommends that the Board: <br />1) Approve $72,293 for impact fee reimbursement to Habitat for Humanity of Orange <br />County, NC, Inc.; <br />2) IF ADDITIONAL REQUESTS FOR REIMBURSEMENT OCCUR IN THE CURRENT <br />FISCAL YEAR, consider the need for a budget amendment to uphold the current <br />policy. The current estimate for proposed units creates a demand of between <br />$300,000 and $400,000; and <br />