Agenda - 11-05-2015 - 6-a - Minutes

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13 1 rates would be different enough to have a material impact on the overall costs to the County 2 with respect to the tax rate, affordability and capacity benchmarks. 3 4 If you have questions, please do not hesitate to contact me. Thank you. 5 6 7 Commissioner Dorosin asked if it is cheaper to borrow through the bond or through the 8 CIP. 9 Bonnie Hammersley said borrowing through the bond is cheaper, because the general 10 obligations bonds are backed by the full faith and credit of the County. She added that as 11 Orange County has a AAA bond rating, a favorable interest rate would be received. She said 12 limited obligation bonds would probably receive a good interest rate as well. 13 Commissioner Dorosin asked if a vote is taken tonight determining certain amounts for 14 certain purposes, then moving forward the Commissioners could only reduce or eliminate 15 funds, and no additional funds or purposes could be added. 16 Bob Jessup said yes. 17 Chair McKee said he would like to go to public comment on this item. 18 19 PUBLIC COMMENT: 20 Allan Rosen, the Project Manager for the Interfaith Council for Social Service, thanked 21 the BOCC for its on going support for affordable housing. He said he supports bond funding for 22 both schools and affordable housing, as good homes plus good schools equals great 23 communities. He asked the BOCC to lead the development of a strategic plan for affordable 24 housing and to assign at least $10 million bond funds to allow for the execution of such a plan. 25 He said such funding could provide 500 housing units. 26 Natalie Britt, Vice President for Rental Development at DHIC, said she supports bond 27 funding for affordable rental housing in Orange County. 28 Burnis Hackney said he supports bond funding for both schools and affordable housing. 29 He said the two needs go hand-in-hand. He said he is also speaking on behalf of Saint Paul's 30 Church which is committed to developing affordable housing. 31 Marty Smith said he is from Tennons Woods Community in Efland, and he supports 32 funding for affordable housing and the schools. 33 Rose Snipes said she too is a member of Saint Paul's AME Church, and affordable and 34 senior housing are the congregation's number one priorities, as well as educational 35 development for children. 36 Jane Kerwin said she attended the September 15, 2015 meeting and noticed that no 37 one stepped forward to oppose a bond. She said it was even suggested that a larger bond be 38 approved. She emphasized the great physical needs of the schools and that the schools must 39 be safe and ADA compliant. 40 Mark Marcoplos said he is here to ask that affordable housing be included in the bond in 41 the amount of$10 million. He said he also supported funding for the schools and seniors. He 42 also noted his appreciation for the public that has come out to speak at the two meetings and 43 made the vital connections between safe, affordable housing and good schools. 44 Jill Simon said she is speaking on behalf of the Chapel Hill Carrboro City Schools 45 (CHCCS) PTA Council and would like the full bond amount of$125 million for the schools, as 46 well as additional funds for affordable housing. 47 Joann Mitchell said she is a Habitat homeowner, and she supports funding for 48 affordable housing in the bond. 49 Jonathan Young, Community Empowerment Fund, said he supported bond funds for 50 affordable housing.