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

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C recommendations are included in this abstract as Attachment III. There are plans for further consideration of Committee's recommendations by the Chapel Hill Town Council in early 2014. Proposed Affordable Housing Development Recently, DHIC, a Raleigh non - profit housing developer has proposed developing up to 80 family apartments and up to 60 senior apartments on 10 acres of Town -owned land adjacent to the Chapel Hill Memorial Cemetery. Current funding plans include applying for Low Income Housing Tax Credits from the NC Housing Finance Agency to keep the project affordable. The preliminary application for this funding would be due in mid - January 2014. III. Town of Carrboro The Carrboro Board of Aldermen established an Affordable Housing Task Force in 2012. Three members of the Board of Aldermen were selected to serve: Dan Coleman, Michelle Johnson, and Sammy Slade. The purpose of the task force was to evaluate how /whether the Town's affordable housing density bonus provisions should be restructured and an initial report was presented on December 4, 2012. (See Attachment IV.) Following Alderman Coleman's resignation in December 2012, Alderman Lavelle joined the task force, as did representatives of the Planning Board and Transportation Advisory Board. Additionally, in the Fall of 2012, the Carrboro Planning Board held three Affordable Housing Dialogues to discuss affordable housing issues with the general public. The task force reported to the Board of Aldermen again in June 2013 on next steps related to a comprehensive housing policy. A report from those sessions is provided at Attachment V. At that time the Carrboro Aldermen authorized the Task Force to work on the following issues. • Impact on student housing on affordability • Section 8 Voucher Assistance • Consider "carrot and stick" approach for requiring affordable housing from developers • Look into ways to increase housing stock and for those developments to be centered around transportation corridors • Look into affordable housing incentives by "points" • Expand payment in lieu to include transportation costs • Talk to public transportation groups about providing services to additional locations • Look into tracking affordable housing stock /rental program IV. Town of Hillsborough There are two affordable housing projects underway in the Town of Hillsborough as described in the Memorandum included as Attachment VI. One is a 233 unit development that will provide, for the first time, payment in lieu of developing affordable housing, and the other is a planned affordable townhome development in the Waterstone Community.