Agenda - 10-24-2006-1 - Laserfiche WebLink

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Proiect Example: In December 2002, the Board of County Commissioners approved an allocation of $250,000 to Habitat for Humanity of Orange County, NC Inc. (HHOC) to assist in the acquisition of a 16-acre tract of land for the future development of affordable housing. County funds were allocated from the Housing Loan Trust Fund and available Community Development program income. The total purchase price was $400,000. On February 23, 2003, the County entered into a Development Agreement with HHOC that required Habitat to submit a sound, site-specific development proposal for the property by June 30, 2005 with infrastructure construction to begin by September 30, 2005. HHOC informed County staff they were unable to meet these target dates and on May 17, 2005 the BOCC approved an amendment to this Agreement modifying the target dates in accordance with HHOC's current development timetable. In late May 2006, County staff received the attached letter from the Sunrise Coalition requesting an independent project audit. In response, County staff reviewed the areas of concern noted by the Sunrise Coalition and responded to the Coalition in an August 7, 2006 attached letter to Doug Schworer, Chair of the Sunrise Coalition. After a review of the status of the project and the requirements of the Development Agreement, and in consideration of the concerns of the Sunrise Coalition regarding the project design expectations of the Commissioners at the time funding was provided for land acquisition, County staff recommends that the Development Agreement be further amended to provide additional .clarification. The attached draft amendment has been prepared by the County Attorney and incorporates into the Development Agreement reference to the Concept Plan and the condition that "should the site specific development plan of the Project which receives final approval from the Town of Chapel Hill be substantially different from the Concept Plan, Habitat shall submit the Project as finally approved by the Town to the County for its approval before construction work is commenced on the Project". The draft amendment illustrates haw the BOCC could introduce specific oversight capabilities into its monitoring of approved affordable housing projects. While important for the BOCC to remain fully engaged as projects proceed to completion, the BOCC will also want to take into consideration, as has been suggested in the earlier process proposal, the need nonprofit partners have to retain the maximum flexibility in response to dynamic financial, community, and regulatory factors. NOTE: County staff anticipates receiving a project update letter from HHOC in advance of the work session but not in sufficient time to accompany the agenda package when released. This letter will be faxed to the BOCC upon arrival. Additionally, the Chair in conversation with HHOC and Coalition representatives intends to allow each group a brief presentation and comment period when the item comes up for consideration on the agenda. FINANCIAL IMPACT: The BOCC approved the HHOC funding request for this project in 2002 in the amount of $250,000. RECOMMENDATION(S): The Manager recommends that the Board: 1. Discuss and provide feedback regarding the proposal for enhanced monitoring of publicly financed affordable housing projects; and