Minutes 09-19-2017 - Laserfiche WebLink

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11 o 2 Existing Homes for Rental • One three bedroom home • One two bedroom home • Targeting incomes between 30% and 50% Area Median Income o Project Cost - $264,400 • County grant - $264,400 • Funded using other Affordable Housing Funds in CIP • 100% County grant funds • County investment per unit - $132,200 Scoring Criteria and Evaluation • Income Targeting and Special Needs —45 Points o All projects serve lower income households • 36% of units created are serving households under 30% of Area Median Income • 78% of units created are serving households under 50% of Area Median Income o Special Needs • Three of the five projects serve special needs populations • Any special needs populations served awarded 20 points o Recommended Changes • Better define special needs populations • Prorate scores for proportion of units serving residents with special needs • Local Residency o Applicants not directed on how to report local residency o Reporting across applicants was inconsistent o No scores assigned o Recommended Changes • Define residency as households residing or working in Orange County • Award partial score based on marketing and recruitment efforts • Award partial score based on estimated local residents served with a reporting requirement upon occupancy • Leveraging o Leveraged Funds • Habitat for Humanity— 64% • CASA Merritt Mill West— 65% • CASA Merritt Mill East— 67% • EmPOWERment Cole and Bynum — 0% o Mixed Use and Mixed Income points o Recommended Changes • Eliminate ability to pay property taxes for non-profit agencies since rental property owned and operated by non-profit (2 points) • Eliminate ability to repay bond funds for non-profit agencies due to low operating margins serving lower income residents (13 points)