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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: October 8, 2013 <br />Action Agenda <br />Item No. 3 <br />SUBJECT: Affordable Housing Follow -Up Discussion <br />DEPARTMENT: Housing /Comm. Development PUBLIC HEARING: (Y /N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />A) Approved Minutes from March 12, Tara L. Fikes, (919) 245 -2490 <br />2013 Joint Meeting <br />B) Draft Proposal <br />PURPOSE: To follow -up on affordable housing matters previously discussed at the March <br />12, 2013 Joint Meeting with the Affordable Housing Advisory Board. <br />BACKGROUND: At the March 12, 2013 Joint Meeting, the following items were discussed by <br />the Board of Commissioners and the Affordable Housing Advisory Board: <br />I. Housing Bond Program <br />The group discussed with Robert Dowling, the Executive Director of the Community <br />Home Trust, a request for $75,000 in Housing Bond funds for the repair /replacement of <br />the HVAC units at the Greenbridge Condominiums in Chapel Hill. Subsequently, the <br />BOCC approved this request at its June 4, 2013 meeting. To date no funds have been <br />expended for this purpose. <br />II. Homebuyer Programs - Live /Work Requirements; First -Time Homebuyer <br />The group also discussed with Mr. Dowling a request from the Community Home Trust <br />(CHT) for a modification of the homebuyer requirements for properties sold by the <br />organization using federal, state, and local housing program funding. Specifically, CHT <br />asked that the first -time buyer requirement be waived after a property had been on the <br />market for 90 days or longer without a contract. CHT also asked to be able to sell a <br />property to a non - first -time homebuyer after 90 days without a contract. Subsequently, <br />the BOCC approved this request at its May 7, 2013 meeting with a request that the <br />CHT Board and staff revisit its existing housing program to determine its feasibility in <br />this current economic climate to include the impact of housing acquired through <br />inclusionary housing practices and rising homeowner association dues. <br />To date, no sales have occurred from exercising this option; however, plans are to <br />continue to monitor implementation and review the impact of this programmatic change <br />in one year. The HOME Trust has sold one (1) house to a first -time homebuyer that <br />did not live or work in Orange County after it had been on the market for nine (9) <br />