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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: March 22, 2012 <br /> Action Agenda <br /> Item No. �}- - p�, <br /> SUBJECT: Special Recognition for the Carol Woods Retirement Community <br /> DEPARTMENT: Financial Services PUBLIC HEARING: (Y/N) No <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> 12/27/11 Letter from Carol Woods <br /> 1/3/12 BOCC Chair Letter to Carol Frank Clifton, 919-245-2306 <br /> Woods Clarence Grier, 919-245-2453 <br /> PURPOSE: To recognize the Carol Woods Retirement Community for its continuing financial <br /> contribution to Orange County. <br /> BACKGROUND: The Carol Woods Retirement Community (Carol Woods) is a non-profit <br /> retirement community organization located in Chapel Hill that provides services to meet the <br /> needs of older adults for housing, health, well-being, and protection of financial security. <br /> Carol Woods has been exempt from paying property taxes since fiscal year 2002-2003. <br /> Although exempt from paying property taxes, Carol Woods recognized its economic and civic <br /> responsibility to continue to make a financial contribution to assist Orange County in meeting its <br /> budgetary demands each fiscal year. <br /> Since the fiscal year ended June 30, 2003, Carol Woods has contributed $1,891,244 to the <br /> County. These contributions to the General Fund continue to allow Orange County to provide <br /> the necessary services and Programs to the residents of Orange County. <br /> FINANCIAL IMPACT: There is no financial impact associated with recognizing the Carol Woods <br /> Retirement Community. <br /> RECOMMENDATION(S): The Manager recommends that the Board recognize Carol Woods <br /> Retirement Community for its continuing financial contribution and thank Carol Woods for its <br /> civic-mindedness and support for Orange County. <br />