Agenda - 03-31-2008-6c - Laserfiche WebLink

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Orange County Housing and Community Development Date: March 25, 2008 To: Orange County Assembly of Governments From: Mary Bratsch, Task Force Chair Subject: Status Report -Land Trust Affordable Housing Maintenance Task Force This memorandum is written to provide a status report of the progress made by the Land Trust Affordable Housing Maintenance Task Force created by the Assembly in September 2007. The purpose of the Task Force is as follows: 1. To review issues related to the long term maintenance of affordable housing managed by the' Orange County Housing and Land Trust (OCHLT) and make specific recommendations to the Towns and Orange County regarding how these units may be maintained in order to achieve long-term affordability; and 2. To review capital needs of the Orange County 10 Year Plan to .End Homelessness and make recommendations regarding how OCHLT housing units may be used to meet the identified needs. Appointed members of the Task Force are: Land Trust Homeowner Mary Bratsch, Chapel Hill Council Members Matt Czajkowski and Bill Thorpe, Hillsborough Town Commissioner Eric Hallman, County Commissioner Valerie Foushee, Artie Franklin, Carrboro Alderman Jacquie Gist, At-large Members Gary Kramling and Jeff Peloquin, and UNC-CH representative Bill Rohe. Staff resource persons include: Robert Dowling, Susan Levy and Tara Fikes. As of this date, two meetings have been held this year (February 20th and March 13th) at the Seymour Senior Center in Chapel Hill. During these meetings, after a brief introduction to the land trust model and the 10 Year Plan to End Homelessness, the-task force has worked to understand the issues and challenges associated with the land trust. model and have begun to discuss potential solutions to address future funding challenges. These potential solutions include the following. Jurisdictions could consider either making 15% of homes in a subdivision affordable to those at 80% of median income or allow some combination of actual units and payments in lieu of providing affordable housing. Any money generated from this scenario could be deposited in a trust fund for use to address the affordability/maintenance issues of the Land Trust. Accept payments-in-lieu instead of requiring the production of dwelling units for low/moderate income families. Any money generated from this scenario could be deposited in a trust fund for use to address the affordability/maintenance issues of the Land Trust.