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4 <br />By adoptsng this change the Home Trust will be able to serve more Families of public sector <br />employees. For example, in the Chapel Hill Carrboro school district, a representative.salary for a <br />teacher.with five years experience is approximately $36,500. Today, a family of two teachers <br />with two children earns far too much income to buy a home from us. However, if we begin serving <br />households a# t s s°1° AML, they wfll be eligible to purchase a Home Trust home. <br />This is an important change for the Home Taut, and one that we are considering from several <br />angles. It is -important to note that even if the Home Trust board decides to make this change, <br />only a small portson of our work would be with households over 80% AMI. The vast majority of <br />our work wil[ continue to be with households earning no more than 80°6 of AML. It is also <br />important to realize that households who earn -more than 80% AMI are not eligible~for subsidy <br />funds. In fact, by serving higher income households, we are able to use our subsidy funds more <br />efficiently. <br />We recognize that this discussion can become very technical, so if it would be helpful, our <br />executive director, Robert Dowling, would be happy to come before the Commissioners to <br />respond to any questions you may have. <br />Lastly, -if the Board of County Commissioners and other community stakeholders support this <br />change and it-is adopted by th4 Home Tnzst board, we would ask For your assistance in <br />communicating this revised policy to county employees. Our objective is to be sure that your <br />employees and all public sector employees who work in Orange County are aware of the housing <br />opportunities we offer. <br />We would appreciate receiving a letter from the Commissioners indicating whether you support <br />this proposed change. _ <br />Thank you Eor your attention to this request. <br />Sincerely, <br />~. ~~~ <br />Mary E. ratsch <br />$oard President <br />~~ <br />U ~~ <br />~~ <br />~~r <br />~~ <br />P.O. Box 307, Carrbaro, NG 27510 1 919-967-1545 ' ~;" .:' "` s'~ ` ~. ~ ~~~ ~'t~ <br />