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adequately provide for needed new classroom teachers and assistants. Areas that apparently would not be <br />fully addressed include some support positions and supply/materials accounts that are determined by ADM <br />on a formula basis and amounts to about $120,000. <br />Commissioner Gordon distributed a proposal that would add 0.4 cents to the district tax rate <br />which would yield $130,364. The revised district tax rate would be 19.4 cents. <br />Commissioner Willhoit stated that it seems to him that covering this shortfall from the fund <br />balance would be appropriate. He feels that the legislature will be called back in session, either this summer <br />or in November or January. Commissioner Gordon asked about the possibility of releasing a certain portion <br />of impact fee revenue expected in the current year to address some of the technology or high school needs. <br />John Link stated that he has written to Neil Pedersen and indicated that if they need to move <br />quickly with the use of the $220,000 that they pursue an amendment to their CIP on how that revenue needs <br />to be changed. The CIP can be amended at any time. <br />Commissioner Gordon suggested putting $120,000 in a contingency account to cover this <br />shortfall to be used in case the legislature does not reconvene. <br />Chair Carey stated he feels also that the Governor will reconvene the legislature. He said that <br />he feels that the budget recommendation that the Board asked the Manager to develop, assuming the use of <br />some fund balance if the legislature does not reconvene, will address the needs that they tried to address <br />with the budget. <br />A motion was made by Commissioner Willhoit, seconded by Commissioner Crowther to <br />approve the following action: {A copy of this budget ordinance is attached to these minutes on pages <br />to adopt the County Capital and School Capital Project Ordinances <br />to adopt the 1996-97 Grant Project Ordinances <br />to adopt the 1996-97 Salary Schedule to be effective July 1, 1996 <br />to adopt the revisions to the Personnel Ordinance <br />to adopt the County Fee Schedule <br />VOTE: UNANIMOUS <br />B. REQUEST FOR IMPACT FEE REIMBURSE MENTIEXEMPTION <br />Housing and Community Development Director Tara Fikes presented for the Board's <br />consideration a request from First Centrum Corporation requesting exemption or reimbursement of $186,000 <br />in school impact fees. First Centrum Corporation is planning to build a 123 unit apartment complex for the <br />elderly in Carrboro to be known as Carolina Spring. The company has applied to the N.C. Housing Finance <br />Agency for the Low Income Housing Tax Credits to finance this project. First Centrum contends that the <br />County's impact fees as well as OWASA's fee requirements cause their tax credit application to be less <br />competitive with others in the state. Further, they questioned the "appropriateness" of requiring new elderly <br />housing developments to pay the impact fee considering the fact that the residents will not impact school <br />growth. They are asking that the County either exempt or reimburse the impact fee requirement for this <br />project. A project summary was included in the agenda materials. <br />Chair Carey entered into the record two letters from the Town of Carrboro in support of this <br />request. <br />Alex Zaffron, member of the Carrboro Board of Aldermen, spoke in favor of this development <br />project which he feels is a unique opportunity to provide affordable housing for the elderly. The Aldermen <br />have worked with the developer to waive some of the building requirements and streamline the process. <br />Mr. Jerry A. Lohla, Executive Vice President of First Centrum Corporation, said that the total <br />amount of the project is eight million dollars. If they cannot get a refund or reimbursement of the impact fees, <br />they will have to turn down the grant even if it was awarded to them. They expect to make only $322,000 <br />from this project. <br />Commissioner Willhoit said that, under the Commissioners' present reimbursement policy, <br />they cannot waive the fee and that any kind of reimbursement would have to come from the general fund. <br />Chair Carey stated that this request puts two of the County's goals against each other - to <br />provide for affordable housing and to fund school construction. <br />Jerry Lohla said that the apartments will cost about $55,000 each. He has given a copy of <br />their budget, which is public knowledge, to John Link. He stressed the fact that besides being affordable, <br />they have to be rented to households that make a minimum of $11,000 but no more than $27,000. This is a