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Attachment VII 31 <br />BOARD OF <br />Date: November 14, 2013 <br />DIRECTORS <br />To: Orange County Board of Commissioners <br />'r <br />Chapel Hill Town Council <br />' <br />Carrboro Board of Aldermen <br />President <br />Hillsborough Town Board of Commissioners <br />HO <br />From: Robert Dowling, Executive Director <br />TRUST <br />Re: Community Home Trust Charter <br />BOARD OF <br />As most of you know, Community Home Trust is a nonprofit organization that provides <br />DIRECTORS <br />affordable housing to low and moderate income households in Orange County. The Home <br />Trust receives financial support from all the local governments and implements inclusionary <br />Alan. Lee <br />housing policies in Chapel Hill and Carrboro (and perhaps soon in Hiillsborough). As a result <br />President <br />of changing circumstances, the Home Trust has faced a variety of challenges in recent years, <br />Gloria Beissinger <br />including reduced mortgage financing options, an increase in condominiums and increased <br />Treasurer <br />turnover of our housing stock. <br />Gordon Merklein As a result of these and other factors, the Home Trust board asked the Town Council to <br />Secretary consider creating a Charter that would better define the roles and responsibilities of the <br />Donna Bell Home Trust. The Council agreed that an interlocal agreement among the four local <br />governments and the Home Trust was warranted. The County Commissioners have also <br />Jess Brandes recently discussed the role of the Home Trust and whether we should be selling <br />Cresha Cianciolo condominiums in high end developments. <br />Jennifer Ferris <br />Based upon these discussions, an initial meeting of staff from each local government and the <br />Jacquelyn Gist <br />Home Trust took place last summer. It was agreed that Home Trust staff would draft an <br />initial Charter (or interlocal agreement) that is intended to establish a shared set of <br />Eric Hallman <br />expectations as to what affordable housing functions the Home Trust would provide to the <br />Lisa Inman <br />citizens of Orange County. Given the limited capacity of the Home Trust staff, it would <br />benefit all parties to establish an agreed upon set of expectations and responsibilities, both of <br />Jaimie Lee <br />the Home Trust as well as of the local governments. <br />Jim Merritt If we all agree that a shared Charter is in all of our interests, we would ask the Assembly of <br />Penny Rich Governments to appoint a representative from each government to a working group that <br />would be charged with drafting a Charter. That working group could consist of elected <br />Maryann Toone officials who have served or will serve on the Home Trust board of directors. Of course, <br />Jonathan Weiler Home Trust board and staff would welcome participation as well. <br />Executive The board and staff of the Home Trust are privileged to manage the inclusionary housing <br />Director policies in Orange County but we fully recognize that our success would not be possible <br />Robert Dowling without your support. <br />P.O. Box 307, Carrboro, NC 27510 1 919 -967 -1545 <br />l � <br />