Agenda - 04-07-2011 - 1 - Laserfiche WebLink

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i a a County capital Projects Fiscal Years 11-1 Project Name Affordable Housing Project status Recommended Functional Service Area Community and Environment Starring Date 71111997 Department Housf M, uman # is and CommunLty Dev 16 meat Completion Date Ongo�n Available Year I Year 2 Year 3 Year 4 Year 5 Five Year Prior Years Balances Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to Project Budget Funding 2128120*11 1.1 .1 2012-13 2013-14 2014-1 2015-16 Total Year 1 Appropriation Professional Services ConstructionlRepairsIRenovations 62115 1 000 892F362 2001000 200vOOO 41000,000 qulpmenmumislein s Total Project Budget 0,'1'i ,0 0 892,302 1 2001r000 - - - - 200,0001 4,0001000 General Fund Related Operating Costs Personnel Services Operations New let Service Total Operating Costs evenues Funding Source Transfer from General Fund 315l000 2 O t 00 2001000 Debt Financing 51800,000 8921362 41000,000 Total 6,1'15,000 892,3621 290,000 200,000 4,000,009 Pro'eet 1 escrrption Justitic tlon The Affordable Goosing project has been primarily funded with two General Obligation Bond Referendums, in 1997 and 2001. The purpose f the project is to fund low and moderate income housing in Orange county. The Board has awarded bond funds to local non-profit organization to construct new homes, rehabilitate existing substandard properties and acquire land for future ho-using development. Local non-profit organizations pay impact fees at the time a new home is permitted. Once the home is constructed and occupied by lover and moderate income residents the non-profit can request a reimbursement of paid impact fees per the county's policy, On November 1, 1995, the BOCC approved a policy for impact fee reimbursement to local non-profit organizations that met the established e fig ihilit criteria. There are several potentially large refunds expected in the next few gears, therefore in FY I I/I2, $200.,0001 recommended to pay future impact fee reimbursements. 22