Agenda - 10-18-94 - VII-A - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda , Item No \40:-)4 ACTION AGENDA ITEM ABSTRACT Meeting Date: October 18, 1994 SUBJECT: Culbreth Park Interim Assistance Grant Program DEPARTMENT: Housing/Community Dev PUBLIC HEARING YES_x NO ATTACHMENT(S) : INFORMATION CONTACT Program Summary Tara L. Fikes, x. 2490 Certificate of Completion TELEPHONE NUMBER Hillsborough 732-8181 Chapel Hill 968-4501 Mebane 227-2031 Durham 688-7331 PURPOSE: To receive citizen comments prior to official closeout of the Culbreth Park Interim Assistance Grant Program and authorize the execution of the Certificate of Completion and Public Hearing Certification by the Chair of the Board of Commissioners. BACKGROUND: Orange County was awarded a Community Development Block Grant (CDBG) Interim Assistance Grant Award of $2 .25 million dollars from the N.C. Department of Commerce for the proposed Culbreth Park Affordable Housing subdivision in April 1990. The interim assistance grant was in the form of an 18 month construction loan at two (2) percent interest. The loan $2,295,528.52 was repaid on November 5, 1991 while housing construction and sales continued. Although the loan was repaid, the grant program remained open to allow the Culbreth Park Community Development Corporation (CPCDC) additional time to build and sell these homes to the targeted number of low/moderate income first-time homebuyers. At this time, CPCDC is concluding its activity. There are fifty (50) buildable lots in Culbreth Park. Eight (8) of these lots were sold to the Town of Chapel Hill for future affordable housing development; CPCDC has built and sold 35 homes ( 19 were sold to CDBG eligible families - 16 to non-CDBG eligible families) ; and CPCDC is presently building the remaining seven (7) homes. A detailed summary is attached. In order to complete the grant closeout process, the N.C. Department of Commerce requires that a public hearing be held prior to official closeout of the Interim Assistance Program to assess the performance of the County and CPCDC during the grant program. All comments received during the hearing should be reviewed to determine the level of consistency with program goals. Additionally, the County is required to submit a Certificate of Completion along with the Public Hearing Certification with minutes of the closeout process. RECOMMENDATION: The Manager recommends authorizing the execution of the Certificate of Completion and Public Hearing Certification, which will contain minutes of tonight' s public hearing, by the Chair on behalf of the Board.