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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 5, 2016 <br /> Action Agenda <br /> Item No. 6-i <br /> SUBJECT: Community Home Trust Request— Housing Bond Program <br /> DEPARTMENT: Housing, Human Rights & <br /> Community Development <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Audrey Spencer-Horsley, Housing, <br /> 1. Letter from Robert Dowling, CHT Human Rights and Community <br /> Executive Director Development Director, (919)245-2492 <br /> 2. June 4, 2013 Agenda Materials <br /> 3. Excerpt of BOCC June 4, 2013 <br /> Minutes <br /> 4. Community Home Trust Invoice <br /> PURPOSE: To clarify the terms of assistance provided to Community Home Trust to utilize <br /> $75,000 reallocated Housing Bond funds for repairs to heating, ventilation and air conditioning <br /> (HVAC) systems at the Greenbridge Condominiums as grant funds. <br /> BACKGROUND: On June 4, 2013, the Board of County Commissioners received a letter <br /> (Attachment 1) from Robert Dowling, Executive Director of Community Home Trust (CHT), <br /> describing the dilemma with some heating, ventilation and air conditioning (HVAC) systems at <br /> the Greenbridge Condominiums in Chapel Hill. Some of the HVAC systems have experienced <br /> problems and have needed to be repaired. CHT anticipates the replacement of existing <br /> systems when necessary in the 15 units occupied by low income homebuyers at approximately <br /> $11,000 per replacement unit. The Board of County Commissioners approved the request to <br /> use Affordable Housing Bond funds in the amount of $75,000 allocated to Community Home <br /> Trust. <br /> The agenda item abstract presented on June 4, 2013 (Attachment 2) referenced only second <br /> mortgage assistance in the item. In preparing a recent amendment by the County in response <br /> to a request from Mr. Dowling to begin using the funds to repair HVAC systems, Mr. Dowling <br /> was advised that the use of funds were to be in the form of second mortgage assistance. Mr. <br /> Dowling contacted staff and indicated the request was intended to use the funds as a grant and <br /> not second mortgage assistance. Therefore, staff is requesting clarification from the Board and <br /> recommending the $75,000 be used as grant funding. <br /> FINANCIAL IMPACT: The subject $75,000 of the Affordable Housing Bond Funds of $200,000 <br /> have already been committed to CHT, thus no additional financial impact is anticipated. <br />