Agenda - 06-02-2015 - 6a - Laserfiche WebLink

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11 1 continue to work with the Community Home Trust to evaluate the funding formula and the 2 current model for homeownership. If identified, alternative models will be brought forward to the 3 Board for consideration. 4 5 FINANCIAL IMPACT 6 Based on the proposed formula, the County's annual financial contribution will be 33% of the 7 approved funding needs of the Community Home Trust. 8 9 RECOMMENDATIONS 10 The Manager recommends that the Board approve the Interlocal Agreement and authorize the 11 Manager to execute the same. 12 13 Bonnie Hammersley said in November 2014 the median income was increased to 115% 14 and the fee simple deed language "unrestricted" was not included. She said this change has 15 been made and the unrestricted language is now included. 16 17 PUBLIC COMMENT: 18 Robert Dowling, Executive Director, Community Home Trust (CHT), said the Board is 19 the first governmental body to discuss this item, and they have been talking about this 20 agreement for two years. He said a shared set of expectations is desired and should have 21 been in place years ago. He said the CHT is a creation of local governments. He said the CHT 22 has done a variety of things for local governments, but in the past 12 years the focus has been 23 on inclusionary housing mostly in Chapel Hill. He said the CHT has been successful, and there 24 are 240 homes in their inventory of affordable homes. He said the challenges faced by the 25 CHT are financial. He said 99 -year ground leases are being assigned, and the organization 26 needs to be viable and well run. He said there has been no increase in funding in 7 years 27 which is not sustainable. He said the agreement offers a model for funding the organization. 28 Commissioner Rich said she was on the CHT Board before Commissioner Price, and a 29 good portion of their meetings were spent talking about this proposal. She said at the AOG 30 there was an overall positive feel from all the local governments. 31 Commissioner Jacobs said affordable housing is a nationwide problem. He said this 32 has been a long time community effort. 33 34 A motion was made by Commissioner Rich, seconded by Commissioner Price for the 35 Board to approve the Interlocal Agreement and authorize the Manager to execute the same. 36 37 VOTE: UNANIMOUS 38 39 Chair McKee said over the next year there must be a plan to address the issue of 40 affordable housing with the Towns and to work with CHT and other organizations to address 41 this problem. He said the need for affordable housing in Orange County may not be as great 42 as some other areas, but there is still a need. 43 Commissioner Rich said Allan Leigh who had been Chair of the CHT is leaving. She 44 said that Allan had guided them through this agreement, and she sends well wishes to him from 45 the Board. 46 47 c. Child Care Budget Planning Information 48 The Board discussed funding needs and possible strategies for meeting the need for 49 child care subsidy for Orange County families.