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12 <br />A spreadsheet from the Community Land Trust in Orange County was included in the report <br />that shows what happens in the resale formula. <br />Commissioner Brown asked Tara Fikes to explain her recommendations more clearly. She <br />clarified that a methodology needed to be developed, and a document to project the repayment of an <br />impact fee needed to be developed as well. <br />Tara Fikes said that a tracking system for projects needed to be developed as well. <br />Commissioner Brown said that the report did not address how the County would recoup its <br />investment if something happened to the non-profit that the County was working with on a project. <br />Tara Fikes said that this has been addressed for the land trust but not for the other programs. <br />Tara Fikes summarized the strategies to ensure long-term affordability of owner-occupied <br />housing such as full repayment of the homebuyer subsidy, right of first refusal, and fair return/shared <br />equity. She said that the recommendation of the staff is for the Commissioners to look at one of these <br />strategies or a hybrid of these strategies. She said that any kind of affordability strategy definitely limits <br />the benefits the homeownership, particularly wealth building. Also, any strategies that are designed <br />would have to be explained to the homebuyers. <br />John Link pointed out that the Old Meredith Place Preliminary Plan is on the agenda as a <br />decision item because the Board's practice is not to put a subdivision on the consent agenda if there is <br />not a unanimous vote on the part of the Planning Board. If the Board does not act on the preliminary plan <br />tonight, this is the last occasion to approve the subdivision with conditions. <br />John Link said that item 9e, Cost-efficient Facilities Initiatives is something that <br />Commissioners Halkiotis and Jacobs worked on with the staff and the only request is whether or not the <br />Board would like to endorse putting it on the agenda for discussion next week with the school boards. <br />Commissioner Brown would like to address the Meredith Place subdivision before the <br />Housing Bond Program Awards. <br />The Board decided to proceed with the Old Meredith Place subdivision, then Cost-efficient <br />Facilities Initiatives, and then Housing Bond Program Awards. <br />d. Housing Bond Program Awards <br />Commissioner Jacobs said that he has a lot of problems with funding some of these projects <br />right now. He supports what is being done, but he thinks the Board is approving this without a context. In <br />looking at the criteria, he questioned whether these projects would work. He said that none of the <br />projects scored above 70% on a scale that could reach 110 points. He has a lot of questions. He <br />suggested approving the two projects that have a funding deadline and work some on the criteria and put <br />it in a context. <br />Commissioner Gordon asked for an explanation of the Pine Hill Drive project. <br />Tara Fikes said that there are some existing buildings on the site that would have to be <br />demolished to complete the project. <br />Geoff Gledhill said that long-term affordability could be addressed in the development <br />agreement. <br />Commissioner Brown said that she was confused about the application for Pine Hill Drive. <br />EmPOWERment, Inc. Director Myles Presler said that the application was for $90,000 to buy <br />the land and demolish the existing mobile homes. <br />Commissioner Brown said that there should be an environmental component to this project <br />and that trees should be preserved as much as possible. <br />A motion was made by Commissioner Jacobs, seconded by Commissioner Halkiotis to <br />approve the two time-sensitive projects, Habitat for Humanity-Efland/Cheeks and EmPOWERment, Inc. - <br />Pine Hill Drive, and defer the remainder of the projects until a later time. <br />Commissioner Gordon thinks that the Board should try hard for even better long-term <br />affordability than is given in these projects. She hopes that the motion to approve would be with the <br />understanding that the staff will endeavor to get long-term affordability for these projects. <br />Myles Presler requested that the Board of County Commissioners approve the Pine Hill Drive <br />project with the provision that there will be a 40-year deed restriction, that if the property sells within 40 <br />years the entire subsidy is repaid, and that EmPOWERment, Inc. would have the ability to form an <br />agreement with the staff that a check would be in hand before February 2000. <br />John Link suggested that the staff work with Mr. Presler between now and the meeting next <br />Monday night with the school boards and try to come up with a proposal that will accomplish the needs of <br />both parties.