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r ~~;,,~~ <br />- ~.~. ~ ,~ <br />~.~ ~, ~ <br />U!~?~!'1G~~l~l <br />,~~ <br />BOARD OF <br />DIRECTORS <br />Maly Bratsch <br />' President <br />Lisa Inman <br />Yice President <br />Bruce FLunberg <br />Secretary <br />Mary jean 5eyda <br />Treasurer <br />February 2S, 2011 <br />Chair Pelissier and Members of the Board of County Commissioners <br />PO$ox8181 ~ - <br />Hillsborough, NC 27278 - . <br />Dear Chair Pelissier and Members of the County Commission: <br />In 2010, the Chapel Hill Town Council asked if the Community Home Tnist would <br />consider serving households at income limits that extend higher than our current <br />income limits. We respectfully request the Board of County Commissioners to <br />determine if you support an increase in our income limits as discussed below. ' <br />As background, Community Home Tnzst is a nonprofit provider of affordable <br />homeownership opportunities in Chapel Hill and Carrboro, We implement <br />inclusionary housing programs, in which developers are asked to provide housing <br />.that is affordable to low-income households inmost new.developments. Low <br />income is defined as 80% of the area median income (AMI), which is established <br />each year by the U.S. Department of Housing and Urban Development {HUD). •• <br />The Town Council asked that we consider serving higher income households in <br />part to better serve public sector employees whose incomes exceed our ailtiwable <br />limits: At'dur ciiri-ent income limits, these einployees~and their families frequently <br />do not qualify for the affordable homes that are created through inclusionary <br />housing policies.,,• . ., • • •~ _ . <br />Cresha Cianciolo Working with UNCs Community Development Law Clinic, we determined that • <br />we can.serve households up to 1159b AMI without jeopardizing our 501(c)3 status. <br />John Cooper The chart below provides the HUD income limits at 80%, 100% and 115% AMI. <br />Jacquelyn Gist ' <br />- 2010 HUD Income Linnits . <br />Eric Hallman - - <br />Michael Hansen <br />Pam Hemminger <br />Alan Lee <br />Gene Pease <br />Jonathan Weiler <br />Executive Director <br />Robert Dowling <br />HH size <br />115% <br />100% <br />80% <br />1' 2 3 4~ 5 <br />$S4 625 $62,388 $70,222 $77,985 $84,23 <br />:_-~ = $47,500 ~ .. ~~ $54,250 ,.:. $61,063 $67,813 =.. $73,250 <br />$38,000 ~ $43 400 $48,850 $54,250 $58,600 <br />As you can see from the chart, the income limits are established by household size. <br />Using a household of four as an example, a family at 80% of AMI can only earn up <br />to $54,250. That same family. of four could earn up to $77,985 if we can sell homes <br />up to 115°rb AMI. It is important to realize that a household of four can be eithe"r a <br />single parent with three children or two parents with two children. - ' <br />3 <br />P.O. Box 307 Carrboro NG 27510 (919-967-1545 `° ~ - ` <br />r r °,r,~~f r~ `~ y 1 Lr e r r~~ r3 <br />.'F <br />