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o 3 <br /> FIRST CENTRUM, Received <br /> ceived <br /> Southeast Region <br /> APR ? -31996 <br /> Managers Office <br /> April 16, 1996 <br /> Mr. John Link <br /> County Manager <br /> Orange County <br /> 300 West Tryon Street <br /> P.O. Box 8181 <br /> Hillsborough, N. C. 27278 <br /> RE: Carolina Spring <br /> Proposed Affordable Apartments for Senior Citizens <br /> N. C. Highway 54 Bypass and West Poplar Avenue <br /> Carrboro, North Carolina <br /> Request for exemption or reimbursement of $186,000 school impact fee <br /> Dear Mr. Link: <br /> This letter is written fo you at the suggestion of Ms. Tara Fikes of the Orange County <br /> Department of Housing and Community Development and with the strong endorsement of <br /> the Mayor and Board of Aldermen of the Town of Carrboro. <br /> First Centrum Corporation develops affordable housing in the mipdwest and eastern United <br /> States, financed primarily by the sale to investors of tax credits for affordable housing <br /> which are allocated by the individual states in which we develop housing. We are hoping <br /> to be able to finance and develop an affordable apartment community for senior citizens in <br /> Carrboro. <br /> On March 26, 1996, the Town of Carrboro Board of Aldermen unanimously approved the <br /> Conditional Use Permit Zoning of property in Carrboro for our proposed development. On <br /> March 29, 1996 we submitted an application for affordable housing tax credits to the <br /> North Carolina Housing and Finance Agency. Although we had spoken to Ms. Fikes earlier <br /> in the year regarding the subject of this request, First Centrum Corporation did not want to <br /> bring this request to Orange County officially until we had proper standing via the <br /> Conditional Use Permit Zoning in Carrboro. <br /> We are aware through our conversations with Ms. Fikes that, while Orange County has no <br /> written policy regarding exemption of the school impact fee, Orange County has been <br /> willing to consider reimbursement of the school impact fee for affordable housing, if it is <br /> "for sale" housing rather than "for rent" housing, and if it is developed by a "non-profit" <br /> developer. <br /> 7000 Peachtree-Dunwoody Road,Building 11 ■ Atlanta,Georgia 30328-1615 ■ (404)698-0250 - Modem(404)698-0510 <br />