Agenda - 09-06-2016 - 6-a - Minutes

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10 1 • Repair and Rehabilitation 2 o Home Ownership Assistance 3 • Down payment and closing cost assistance 4 • Buy down interest rate with lender 5 6 0 Example Projects — Down payment and closing cost assistance 7 • Community Home Trust (CHT) 8 o Townhome (1280 sq, ft.), Chapel Hill, May 2016 9 10 Commissioner Jacobs said the best way to focus the plan is to finish the analysis and 11 then adjust the units accordingly. 12 Commissioner Jacobs said the BOCC has not discussed the point, at which, it wants to 13 bring other governments into the conversation, but he would like for the Board to have fairly 14 extensive discussion before involving other governments who already have plans in place. 15 Commissioner Rich asked if this plan is being used as the priority, when the new HOME 16 group is given its new charge. 17 Travis Myren said Commissioner Jacobs was suggesting having further discussions 18 within the Board before giving any guidance to the multi-jurisdictional housing group. 19 Bonnie Hammersley said she would suggest bringing this discussion on affordable 20 housing back after the break. 21 Commissioner Rich asked if the new multi-jurisdictional group was supposed to meet 22 over the summer. 23 Bonnie Hammersley said she has not heard anything yet from the other jurisdictions 24 about meetings. 25 Commissioner Rich said she agreed and that flexibility is important going forward. 26 Travis Myren resumed the presentation: 27 28 0 Capital Investment Plan — FY2016-17 Recommendations 29 • Affordable Housing Land Banking - $1 million 30 o Added to existing $1 million 31 • Affordable Housing Bond - $2.5 million 32 o 1st draw of$5 million proposed bond 33 o 2nd draw proposed to occur in FY2018-19 34 o May be advanced based on project schedule 35 36 Commissioner Price asked if anything has been done with the first $1 million, which the 37 County allotted for landbanking. 38 Chair McKee said it is sitting there and the second million will be added to the financing 39 package. 40 Bonnie Hammersley said financing would not occur without having projects in place. 41 She said it is a placeholder. 42 Commissioner Jacobs said there should be clarified focus regarding the Board's 43 direction to address problems of the manufactured housing communities and the purpose of the 44 land being banked. He said the 1989 Low and Moderate Income Housing Task Force had 45 some interesting suggestions, including potential mobile home park standards. He said if 46 money is going to continue to be set aside, there must be a plan in place. 47 Commissioner Price said if there are needs and money set aside, there should be a plan 48 of action. 49 Commissioner Jacobs said there are a couple of examples: one is Charlottesville and 50 one is south of Garner. He said staff could go investigate the details in Garner.