Agenda - 03-03-2015 - 7c - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: March 3, 2015 Action Agenda Item No. 7 -c SUBJECT: Land "Swap" Transaction — 416 Faucette Mill Road, Hillsborough DEPARTMENT: Asset Management Services, PUBLIC HEARING: (Y /N) No County Attorney, Tax Administration, Housing, Human Rights & Community Development ATTACHMENT(S): 1) Site Locator 2) Proposed Site "Swap" Illustratives 3) Due Diligence Information Supporting a Buildable Residential Lot on the County Parcel 4) Resolutions PURPOSE: To consider: INFORMATION CONTACT: Jeff Thompson, 919 - 245 -2658 John Roberts, 919 - 245 -2318 James Bryan, 919 - 245 -2319 Dwane Brinson, 919 - 245 -2726 Audrey Spencer - Horsley, 919 - 245 -2492 This Item is a carry - forward from the February 17, 2015 meeting cancelled due to weather. 1) approving a land recombination ( "land swap ") transaction with AlterVue, LLC involving adjacent parcels to mutually benefit the County and AlterVue, LLC with regard to the integrity of a single family residential property located at 416 Faucette Mill Road and adjacent County owned property that may be used for future affordable housing development; 2) donating the resulting County parcel to Habitat for Humanity of Orange County for the purpose of developing an affordable single family housing unit; 3) authorize the Chair to sign the attached resolutions and other necessary paperwork upon final review of the County Attorney; and 4) supporting the Manager's efforts in pursuing similar efforts to analyze under - utilized or vacant parcels owned by the County that may be suitable for future affordable housing development. BACKGROUND: AlterVue, LLC, ( "AlterVue ") a local real estate investor, purchased a single family home located near 416 Faucette Mill Road ( "AlterVue Parcel ") in Hillsborough for the purpose of improving the property and marketing it to potential homebuyers. (See Attachment 1, "Site Locator ").