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The motion is to approve the Long Term Housing Affordability Policy, to adopt the 99-year policy <br />far the impact fee reimbursement, and include an evaluation of the program by the end of two years. <br />VOTE: UNANIMOUS <br />Jahn Link explained the sequence of issues regarding affordable housing that the Board would <br />be discussing in the coming month. <br />Commissioner Brown mentioned that she needed to meet with Commissioner Jacobs to discuss <br />the results of the housing summit and try to come up with an organization of the comments that were made. <br />b. Community Revitalization Program <br />The Board considered approving revised operational guidelines for the community revitalization <br />loan program. <br />Tara Fikes said that the guidelines for this program were brought to the Board in February, <br />suggesting some revisions to the Community Revitalization Loan Program. This program provides funding <br />for acquisition and rehabilitation of existing properties. This funding rolls over into a direct second mortgage <br />for the qualified homebuyers. This program has been funded in the past using HOME money. She said that <br />in February the Board asked for some additional information and she explained the four points that are in the <br />agenda abstract. She said that the County has spent approximately $240,000 to date on this program. <br />Commissioner Gordon asked about the affordability period. There were places on pages three, <br />four, and five that had the affordability period as 20 years and 40 years. <br />Tara Fikes said that the original affordability period was 20 years in the guidelines. She went <br />back into the document and changed it to 40 years and overlooked some corrections that needed to be <br />made. <br />Commissioner Gordon said that the period of affordability should be 99 years if it is consistent <br />with the policy that was just approved. <br />Tara Fikes verified that she would change the document to say that the period of affordability <br />would be 99 years with a 40-year deferred loan with a deed of trust and promissory note. <br />Commissioner Gordon made reference to page six under "Property Value" and read the <br />sentence, "The value of the identified property to be acquired by a homebuyer must have a value that does <br />not exceed 95% of the area median purchase price for that type of housing." She said that this value could <br />be very expensive. <br />Tara Fikes said that the rates were set by HUD. <br />Commissioner Brown said that she was interested in the environmental issues. Her concern is <br />that these issues will be ignored. <br />Commissioner Brown asked about the list of properties that were renovated. <br />Tara Fikes said that the level of rehabilitation varied with each property. <br />Commissioner Brown clarified that EmPOWERment and Orange Community Housing <br />Corporation were the only two organizations that applied for this program. <br />Commissioner Jacobs made reference to page six and suggested a sentence to add to the <br />deconstruction portion as follows: "In the case of rehabilitation projects, deconstruction methods will be <br />considered to capture the greatest possible amount of materials for reuse in that or other projects." <br />There was a consensus that the revisions will be incorporated and brought back to the County <br />Commissioners for further review as soon as possible. <br />Myles Presley thanked the County Commissioners for allowing EmPOWERment to use these <br />funds. He asked that the County Commissioners act quickly to approve this plan so that HOME funds could <br />be released. He encouraged the Commissioners to consider raising the income limit to 80% of median <br />income. <br />c. A Lands Legacy Program for Orange County <br />The Board considered adopting a policy to provide a program for natural and cultural resource <br />land acquisitions. <br />Environmental and Resource Conservation Director David Stancil gave an overview of the <br />Lands Legacy Program. He noted that this is a voluntary program where staff will be looking for willing <br />sellers. He explained why this program is important. The County has lost as much as 25°to of prime forest <br />land since 1980. Farming land and natural areas have been lost in the County to development. He listed <br />the larger landowners in Orange County including Duke University, OWASA, UNC, Eno River State Park, <br />Hillsborough and Orange County. He explained the general criteria used to identify potential land <br />acquisitions. In terms of funding options, the preliminary CIP does address the Lands Legacy Program and <br />