Agenda - 09-26-2013 - 2 - Laserfiche WebLink

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67 County Capital Projects Fiscal Years 2013 -18 Project Name Affordable Housing Project Status Approved Functional Service Area Community and Environment Starting Date 71111997 Department Housing, Human Rights and Community Development Completion Date Ongoing Current Year 1 Year 2 Year 3 Year 4 Year 5 Five Year 6 Prior Years Fiscal Year I Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to Proiect Budqet Fundinq 2012 -13 2013 -14 2014 -15 2015 -16 2016 -17 2017 -18 Total Year 10 Professional Services Construction /Repairs /Renovations 6,285,000 170,000 170,000 170,000 Equipment/Furnishings Total Project Budget 6,285,000 170,000 170,000 - - - - 170,000 - General Fund Related Operating Costs Personnel Services Operations New Debt Service Total Operating Costs - - - - - - Revenues /Funding Source Transfer from General Fund 485,000 170,000 170,000 170,000 Debt Financing 5,800,000 Total 6,285,000 170,000 170,000 - - - - 170,000 - Project Description /Justification 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 and moderate income housing in Orange County. The Board has awarded bond funds to local non - profit organizations to construct new homes, rehabilitate existing 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 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 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 potentially large refunds expected in the next few years, therefore in FY 2013/14, $170,000 is approved to pay future impact fee reimbursements. 25