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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: March 19, 2013 <br />Action Agenda <br />Item No. 4 -a <br />SUBJECT: Special Recognition for the Carol Woods Retirement Community <br />DEPARTMENT: Financial Services PUBLIC HEARING: (Y /N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />December 20, 2012 BOCC Chair Letter <br />to Carol Woods Frank Clifton, 919 - 245 -2306 <br />Clarence Grier, 919 - 245 -2453 <br />PURPOSE: To recognize the Carol Woods Retirement Community for its continuing financial <br />contribution to Orange County. <br />BACKGROUND: The Carol Woods Retirement Community (Carol Woods) is a non - profit <br />retirement community organization located in Chapel Hill that provides services to meet the <br />needs of older adults for housing, health, well- being, and protection of financial security. <br />Carol Woods has been exempt from paying property taxes since fiscal year 2002 -2003. <br />Although exempt from paying property taxes, Carol Woods has recognized its economic and <br />civic responsibility to continue to make a financial contribution to assist Orange County in <br />meeting its budgetary demands each fiscal year. <br />Since the fiscal year ending June 30, 2003, Carol Woods has provided $2,066,244 as a <br />contribution, most recently making a $175,000 contribution. These contributions to the General <br />Fund continue to allow Orange County to provide the necessary services and programs to the <br />residents of Orange County. <br />FINANCIAL IMPACT: There is no financial impact associated with recognizing the Carol Woods <br />Retirement Community for its financial contributions to Orange County. <br />RECOMMENDATION(S): The Manager recommends that the Board recognize the Carol <br />Woods Retirement Community for its continuing financial contribution to Orange County. <br />