Orange County NC Website
3 <br /> 1 Rental (174 units) $ 6,720,000 <br /> 2 Homeownership (124 units) $ 4,620,000 <br /> 3 Urgent Repairs & Rehabilitation (242 units) $ 1,759,000 <br /> 4 Housing Locator $ 200,000 <br /> 5 Risk Mitigation Fund $ 50,000 <br /> 6 Total $13,349,000 <br /> 7 <br /> 8 Projected Resources by OCAHC - $12, 550,00 (includes Chapel Hill Development <br /> 9 Reserve and CDBG, Carrboro Affordable Housing Fund, HOME Funds and Orange <br /> 10 County Affordable Housing Bond) <br /> 11 <br /> 12 Working cooperatively, sharing resources can identify better opportunities, optimize assets, <br /> 13 have greater impact than separately. <br /> 14 <br /> 15 Affordable Housing Gap: Goals and Priorities <br /> 16 Goal: 1000 affordable housing assisted units <br /> 17 • Greatest needs priority: <br /> 18 — rental homes for extremely low income (persons and families with incomes at or <br /> 19 below 30% of median income and special needs populations) - 500 units or more <br /> 20 — Followed by workforce rental and homeownership assistance for persons and <br /> 21 families at or below 50% to 80% median? — 500 units <br /> 22 <br /> 23 Commissioner Dorosin asked if the target income ranges for the 314 planned rental <br /> 24 units are known. <br /> 25 Audrey Spencer Horsley said the full range: less than 30%, and up to 80%. <br /> 26 Commissioner Dorosin said having this information would be useful. <br /> 27 Commissioner Dorosin asked if the statistics about households that are cost burdened <br /> 28 are linked to affordable housing. He said one could live in an expensive house, and still be cost <br /> 29 burdened. <br /> 30 Audrey Spencer Horsley said the cost burden number represents people who are the <br /> 31 lowest income, and of those people how many are paying more than 30% of their income for <br /> 32 housing. <br /> 33 Commissioner Dorosin referred to the roughly 16,000 households on page 3, and asked <br /> 34 if there is a cut off point for these households. <br /> 35 Audrey Spencer Horsley said these households range from those at 30% and 50% of <br /> 36 median income. <br /> 37 Chair McKee asked if the median income could be identified. <br /> 38 Audrey Spencer Horsley said the median income for Orange County is about $72,000 <br /> 39 for a family of four. <br /> 40 Commissioner Pelissier referred to the affordable housing providers listed on page 7, <br /> 41 and asked if these prices assume you have to buy land. <br /> 42 Audrey Spencer Horsley said that information was not provided, but it can be obtained. <br /> 43 Commissioner Pelissier referred to the section urgent repairs and rehab, and asked if <br /> 44 these units are currently occupied affordable housing units which are in danger of being <br /> 45 unlivable. <br /> 46 Audrey Spencer Horsley said a program called Brush of Kindness, run by Habitat for <br /> 47 Humanity, typically provides improvements to the exterior of a home. She said the Rebuilding <br /> 48 Together program, also run by Habitat, involves more substantial rehabilitation. She said these <br /> 49 units are not at risk of going offline. <br />