Minutes 02-21-2017 - Laserfiche WebLink

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19 The draft policy was shared with the Affordable Housing providers for their input. Staff reviewed the providers' input and included some of the suggestions in the amended policy. Bonnie Hammersley reviewed a chart containing the amended policy and changes. Chair Dorosin clarified details about the hand out chart, and from where the comments came. Bonnie Hammersley said providers received the original policy with the County Attorney's amendment, but no other changes. Chair Dorosin said it may be best to go down each part of the chart and ask questions. Commissioner Rich asked if clarification could be provided about the difference between the Community Home Trust (CHT) and the Community Land Trust (CLT). Bonnie Hammersley said the CLT was a model that was used in 2000, and only applied to the CHT. She said the CHT designation will be used throughout the document. Commissioner Rich asked if this change will be made throughout the document, to make all CLT into CHT. Bonnie Hammersley said yes. Commissioner Price referred to the definition of affordable housing, and said it does not convey the intent behind what she felt the County was viewing as affordable. She said the definition is based on a home being 30% of one's income, rather than one's income being at a level of need, or within HUD definitions. John Roberts said this is for the Board's discussion, and the only part he changed was the Exceptions area. He said staff and local housing providers put in the other changes, and all are up for review by the Board. Chair Dorosin said combining both definitions of affordable housing would better achieve the Board's intent. Commissioner Price agreed. Commissioner Jacobs referred to the 90-day sale, and asked if that number came from particular reasoning, and how that number compares to the average time it takes for a home to sell in Chapel Hill and Carrboro. Chair Dorosin said this is the section that refers to waiving the first time homebuyer restriction, if the home in question has been available for more than 90 days. Annette Moore, Interim Housing Director, said the CHT has been asking for this for the last four years. She said 90 days is the average time. Robert Dowling, CHT Director, said this request was made and granted several years ago, and after 90 days a home can be sold to non first-time homebuyers. Commissioner Jacobs asked if there is a reason behind the 90 days number, and how long the average home is on the market in Chapel Hill and Carrboro. Robert Dowling said he does not know the average in those towns, but the average for CHT is 60 days. He said homes that are on the market longer than 60 days are harder to sell, and in the interest of the seller, the 90-day time frame was requested and granted. Commissioner Dorosin said the request is to institutionalize a process that has already been occurring for some time. Bonnie Hammersley said many things in this document are already part of the process, but have never been formalized. Commissioner Price said there are two variables: a First Time homebuyer and a Qualified Buyer. She said one can be considered a first time homebuyer if one has not owned a home in three years, and the same waiver would apply if a first time homebuyer were not found for a home that has been on the market for 90 days. Annette Moore said the buyer would have to be income eligible whether they were a first time buyer or not, even if the home has been on the market more than 90 days.