Agenda - 11-19-2014 - 2 - Laserfiche WebLink

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The Town of Carrboro Board of Aldermen discussed the draft Charter (Attachment 2 —A) on June 3, 2014 and issued a resolution providing the following comments: 1. CHT should explore increasing the financial role of UNC and UNC Healthcare System. 2. The Town should explore the possibility of guaranteeing a line of credit for the Community Home Trust. 3. CHT should provide budget requests to the Town of Carrboro early in the budget preparation cycle. After multiple discussions with the County and Towns' leadership, it was determined that a "charter' was not the appropriate reference to the proposed agreement, and it was thereafter referenced as an Inter -local Agreement (Agreement). The Agreement would reconfirm support for the Countywide affordable goals for homeownership and establish a formula to determine funding of CHT's operational budget. According to Mr. Dowling's forecasted budget, CHT will experience a net operating loss of about $209,000 if the proposed funding is not received by the local governments. The funding formula for the governments' respective financial contribution would be adjusted annually on a pro -rata basis in accordance with the number of CHT homes located within each respective municipality. b) Transit - Related Affordable Housing Opportunities Local leaders and transportation planners have recognized the need for predictable and dependable alternatives to driving in the congested corridor between Durham and Chapel Hill, two of the Triangle's most prominent municipalities. On February 8, 2012, the Durham - Chapel Hill - Carrboro Metropolitan Planning Organization (DCHC MPO) adopted Light Rail Transit (LRT) on an alignment between the University of North Carolina (UNC) Hospitals in Chapel Hill and Alston Avenue in east Durham as the LPA for inclusion in the 2035. Long Range Transportation Plan (LRTP) and subsequent environmental studies. A premium high- capacity transit investment in the Durham - Orange County Corridor was proposed to provide a transit solution that addresses the following mobility and development needs: 1. Need to enhance mobility 2. Need to expand transit options between Durham and Chapel Hill 3. Need to serve populations with high propensity for transit use; and 4. Need to foster compact development The proposed Durham - Orange Light Rail Transit (D -O LRT) Project is a 17.1 mile light rail transit line which extends from UNC (UNC Hospitals Station) to east Durham (Alston Avenue Station). The D -O LRT alignment connects a range of educational, medical, employment, and other important activity centers, park- and -ride lots, transfer centers, the Durham Amtrak Station, and the Durham Station. In consideration of this increased access to these services, the County and the Towns entertained the need to ensure that affordable housing is within convenient proximity to the light rail transit. The government leaders also agreed that such affordable housing choices should not be centralized or concentrated in one geographical or economic location.