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County staff has received the additional information, which has been reviewed and provided to <br />the Board. OPC Foundation was not able to provide evidence of a financial commitment for the <br />non-bond funds of the project. The staff recommends that, if the Board decides to award <br />funding to this project, that they require that the foundation provide a letter of financial <br />commitment. There is approximately $780,000 available far award at this time. The remaining <br />requests total $894,000. <br />Commissioner Gordon made reference to the staff recommendation of requiring a <br />financial commitment and asked what the policy says. Tara Fikes said that the letter of financial <br />commitment does give more points, and it is a very critical part of the policy in that you need to <br />be able to show that you are able to carry out the project. The project will not get kicked out <br />without the letter. <br />Commissioner Carey said that someone gave him an evaluation summary for three <br />projects, but it did not include the scores for the other two -Affordable Rentals and OPC <br />Foundation. Tara Fikes said that the committee originally decided not to score the two <br />applications because of the deficiencies. <br />Chair Brown asked if there is a time when the money has to be applied to the project <br />and if it were not used, then it would revert to the County. Tara Fikes said that there are time <br />requirements, but she will have to look back at the policy. <br />Commissioner Jacobs asked about the units that Affordable Rentals want to <br />purchase in Carrboro. He asked if there were HOME funds allocated to Carrboro far purchase <br />of the same units. Tara Fikes said yes, but those funds could be used anywhere in Carrboro. <br />The properties would be purchased and resold to first-time homebuyers. This is different from <br />the proposal from Affordable Rentals. <br />Public Comment: <br />Nancy Milio was on the Affordable Housing Task Force. She said that one of the <br />findings was the deficit in affordable rentals. Another recommendation that came out of the <br />report was to find ways to develop public/private partnerships in financing affordable housing <br />units. Three of the members on the task force decided to directly respond to the report, and <br />they incorporated Affordable Rentals, Inc. She is Chair of the board. They have focused solely <br />on sustainable affordable rentals for families whose incomes are between 30-50% of the area <br />median income. They have raised $15,000 in donations and have obtained a grant from Z. <br />Smith Reynolds, which enabled them to open an office under EmPowerment's ownership and <br />hire apart-time Executive Director, Alex Asben. In these months they have obtained private <br />and public loans and a CDBG grant and two HOME loans. In the application for the band funds, <br />they are asking for $364,000 for an additional 13two-bedroom apartments in Abbey Court. <br />They plan to do additional rehabilitation to these units. She spoke about their relations with <br />EmPawerment, Habitat far Humanity, and the InterFaith Council. She said that they have built <br />their capacity in a short period of time and she asked the County Commissioners to approve <br />their proposal so they can provide good quality affordable housing for low-income citizens. <br />Regina Dyson is a resident of Cedar Rock Cooperative Apartment complex, a project <br />of the Weaver Community Housing Association. She asked for funding to support the <br />sustainability of this project. She said that she is a single mother of two in anon-profit <br />professional organization. She said that this apartment complex enables and empowers her to <br />secure a safe and comfortable quality home environment for herself and her two children. She <br />said that she and her children feel welcomed, supported, and empowered due to the diversity of <br />the Carrboro community and Orange County at large. She said that she was laid off in April <br />from afull-time position, working with anon-profit organization that advocates for family farmers <br />in rural communities. If it were not for this community, they would be a homeless family. She <br />thanked the people facilitating this effort. <br />