Agenda - 11-21-2013 - 1 - Laserfiche WebLink

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Attachment VI 29 Town of MEMORANDUM To: Board of Orange County Commissioners Carrboro Board of Alderman Chapel Hill Town Council Hillsborough Town Board of Commissioners From: Margaret A. Hauth, Planning Director Date: November 8, 2013 RE: Affordable Housing payments and set asides in Hillsborough In 2009, the Town Board approved a Special Use Permit for the first project in Hillsborough to offer a payment in lieu of developing affordable housing. The project (Forest Ridge) will contain 233 dwellings of a variety of types on 118 acres across from the SportsPlex on US 70 Business. A map of the approved lot layout is attached. The owners offered to town a payment of $1,000 per dwelling, due with issuance of the Zoning Permit for each unit constructed. The final payment will be $7,000, to bring the total contribution to $240,000. The project has walking trails that connect to the Mountains to Sea Trail and the town's Riverwalk which will allow residents to walk downtown as well as walk to the SportsPlex. The project has approved construction drawings and is anticipated to start site infrastructure construction this month. On a related note, the developers of Waterstone provided land and preliminary engineering services to reserve land for 24 affordable townhome units in their project, combined with a per unit contribution toward construction. Development of the market -rate townhomes is expected to start late this year or early in 2014, but a schedule has not been established for the affordable townhomes. The Town does not have a specific plan in place yet for the expenditure of the payment in lieu funds, but a variety of programs have been discussed. A plan will likely be finalized during the FY15 budget discussions. 101 East Orange Street • P. O. Box 429 • Hillsborough, North Carolina 27278 919 - 732 -1270 • Fax 919 - 644 -2390