Orange County NC Website
County Capital Projects <br />Fiscal Years 2013 -18 <br />Project Name <br />Affordable Housing <br />Project Status <br />Approved <br />Functional Service Area <br />Community and Environment <br />Starting Date <br />7/1/1997 <br />Department <br />Housing, Human Rights and Community Development <br />Completion Date <br />Ongoing <br />Current <br />I Year 1 Year 2 Year 3 <br />Year 4 Year 5 Five <br />Year 6 <br />Prior Years Fiscal Year <br />Fiscal Year Fiscal Year Fiscal Year <br />Fiscal Year Fiscal Year Year <br />to <br />Proiect Budget <br />Funding 2012 -13 <br />2013 -14 2014 -15 2015 -16 <br />2016 -17 2017 -18 Total <br />Year 10 <br />Professional Services <br />Construction /Repairs /Renovations 6,285,000 170,000 170,000 170,000 <br />Equipment/Furnishings <br />Total Project Budget 6,285,000 170,000 170,000 - - - - 170,000 - <br />General Fund Related Operating Costs <br />Personnel Services <br />Operations <br />New Debt Service <br />Total Operating Costs - - - - - - - <br />Revenues /Funding Source <br />Transfer from General Fund 485,000 170,000 170,000 170,000 <br />Debt Financing 5,800,000 <br />Total 6,285,000 170,000 170,000 - - - - 170,000 - <br />Project Description /Justification <br />The Affordable Housing project has been primarily funded with two General Obligation Bond Referendums, in 1997 and 2001. The purpose of the project is to fund low <br />and moderate income housing in Orange County. The Board has awarded bond funds to local non - profit organizations to construct new homes, rehabilitate existing <br />substandard properties and acquire land for future housing development. Local non - profit organizations pay impact fees at the time a new home is permitted. Once the <br />home is constructed and occupied by low and moderate income residents the non - profit can request a reimbursement of paid impact fees per the County's policy. On <br />November 1, 1995, the BOCC approved a policy for impact fee reimbursement to local non - profit organizations that met the established eligibility criteria. There are several <br />potentially large refunds expected in the next few years, therefore in FY 2013/14, $170,000 is recommended to pay future impact fee reimbursements. <br />23 <br />