Agenda - 03-03-2011 - 3a - Laserfiche WebLink

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REVISED 3/2/11 Abstract Only- See Bold ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: March 3, 2011 Action Agenda Item No. ~ -q SUBJECT: Special Reco nition of the Carol Woods Retirement Community DEPARTMENT: Financial Services PUBLIC HEARING: (Y/N) No ATTACHMENT(S): Acknowledgement Letter to Carol Woods Retirement Community from Board of County Commissioners INFORMATION CONTACT: Frank Clifton, County Manager, 919-245-2306 Clarence Grier, Financial Services Director, 919-245-2453 PURPOSE: To recognize the Carol Woods Retirement Community for its continuing financial contribution to Orange County. BACKGROUND: The Carol Woods Retirement Community (Carol Woods) is anon-profit retirement community organization located in Chapel Hill. Carol Woods provides services to meet the needs of older adults for housing, health, well-being, and protection of financial security. Carol Woods, in its mission statement, encourages participation in and service to the larger community. Carol Woods has been exempt from paying property taxes under State law since fiscal year 2002-2003. Although exempt from paying property taxes, Carol Woods recognizes its economic and civic responsibility in continuing to make a financial contribution to assist Orange County in meeting its budgetary demands each fiscal year. Over the past nine fiscal years, Carol Woods has contributed $1,716,244. These contributions to the General Fund continue to allow Orange County to provide necessary services and programs to all the residents of Orange County. FINANCIAL IMPACT: There is no financial impact to recognizing the Carol Woods Retirement Community for its continued support of Orange County. RECOMMENDATION(S): The Manager recommends that the Board receive the information and recognize Carol Woods for its continued stewardship to the community.