Agenda - 02-03-1997 - 9b - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda Item No. q-6 ACTION AGENDA ITEM ABSTRACT Meeting Date: February 3, 1997 SUBJECT: HOME Program-Abbotts Colony DEPARTMENT: Housing and Community Development PUBLIC HEARING: BUDGET AMENDMENT: (Y/N) ' > ATTACHMENT(S): INFORMATION CONTACT: Development Agreement Tara L. Fikes TELEPHONE NUMBERS: --ext. 2490 Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 227-2031 PURPOSE: To approve the Development Agreement with the Orange Community Housing Corporation (OCHC) for the Abbotts Colony HOME Program activity. BACKGROUND: In 1993, the Orange County HOME Consortium provided $50,000 in HOME funds to the Orange Community Housing Corporation to purchase three lots in the Abbotts Colony subdivision in Chapel Hill with plans to build three homes for first time homebuyers. One house has been constructed and sold to a qualifying family. However, previous efforts to develop the remaining lots have not been successful due to the marginal suitability of these lots for residential construction and increased construction costs. Also, the lots are located within a Chapel Hill Resource Conservation District,thereby, causing additional site preparation work prior to house construction. In November 1996, Orange Community Housing Corporation presented a proposal to develop the remaining sites. The Orange County HOME Council has fully discussed this proposal and has agreed to proceed with entering into an agreement with OCHC to develop the remaining lots at Abbotts Colony and sell these homes to first time homebuyers at or below 80%of area median income by July 31, 1997. The County is the lead administrative entity for the Orange County HOME Consortium and, thus, would enter into the agreement with the Orange Community Housing Corporation on behalf of the Consortium.