Orange County NC Website
Browse       Search
ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 6, 2003 <br />Action Agenda <br />Item No. ~`~, <br />SUBJECT: Housing Bond Policy -Land Banking Policy Approval <br />DEPARTMENT: Housing/Community Dev. <br />PUBLIC HEARING: (YIN) No <br />ATTACHMENT(S): <br />Affordable Housing Bond Policy <br />INFORMATION CONTACT: <br />Tara L. Fikes, ext 2490 <br />TELEPHONE NUMBERS: <br />.Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham. 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider approval of a Land Banking Policy for incorporation into the County <br />Affordable Housing Bond Policy. <br />BACKGROUND: On October 15, 2002, the Affordable Housing Advisory Board (ARAB) <br />presented a revised Affordable Housing Bond Policy for the review and approval of the Board of <br />County Commissioners (BOCC). The Policy was approved on that date. At that time, ARAB <br />committed to continuing to work to develop criteria for a Land Banking Program for the Board's <br />consideration within 30-90 days of that date. (Land Banking provides the opportunity to <br />purchase land that becomes available prior to the establishment of a firm development plan.) <br />Also, at that time, ARAB asked that the final 20% of the $1.3 million dollars available in the first <br />round of 2001 bond funding be designated for a land banking RFP process. <br />Subsequently, a subcommittee of ARAB developed a Land Banking Policy and the Policy was <br />distributed to local non-profit organizations and posted on the County's website in order to <br />receive public feedback. The subcommittee and full Advisory Board reviewed the public <br />comments received and a final draft Land Banking Policy was presented to the BOCC on <br />January 21, 2003. <br />At that time, the Board provided several comments regarding the proposed policy and staff was <br />instructed to work with the Advisory Board to address the issues raised during the meeting. <br />This was accomplished in February and a policy revision was presented to the BOCC at the <br />March 25th work session. At that meeting, the Board asked for the following clarifications to the <br />policy. <br />1. Project Completion <br />Board members expressed an interest in specifying afive-year project initiation requirement and <br />the policy has been changed to incorporate that change from the original suggestion of three <br />