Agenda - 04-01-1992 - Laserfiche WebLink

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and equipment, installed telephones, created an accounting and administrative management system, and met with all the members of the Board of Directors. During that same period, she began the process of developing an identity for OCHC among local elected officials, administrators, human service providers, financial institutions, builders, realtors, and others involved in the development of affordable housing. 1990 -91 Program Activities The most important activity of OCHC staff this spring has been the search for a site for our first development project. Although no site was secured during the fiscal year, several sites have been evaluated and staff has become familiar with local development regulations that will effect any site selected. In addition, OCHC is working with Professor William Rohe, UNC Department of City and Regional Planning, to conduct a workshop class in the fall that will focus on site selection for affordable housing development. Two affordable housing projects were underway in Orange County when the Executive Director began work in January. Whitted Forest Apartments, a 35 -unit apartment complex for families, was proposed as a joint venture between Orange Congregations in Mission (OCIM), a 10- year -old human service agency serving rural Orange County, and MB Corporation, a private developer based in Raleigh. With no previous experience in housing development, OCIM requested that OCHC assist them in procuring funding and analyzing proposals from the private developer. Before Ms. Dyer began work in January, OCHC provided funds to retain the services of staff from Downtown Housing Improvement Corporation, a Raleigh non - profit housing development organization, to analyze the development proposal. The OCHC Board also sent letters to funding agencies in support of Whitted Forest. Once the Executive Director began work, OCHC helped Whitted Forest in its search for second mortgage funding for the project. OCHC continues to assist OCIM and Hillsborough Affordable Housing Corporation, established by OCIM to develop Whiffed Forest, as they contract and build the project. Culbreth Park, 50 units targeted for first time homebuyers with incomes below 80% of the area median, was also underway when Ms. Dyer began work. The Town of Chapel Hill requested that OCHC evaluate the possibility of assuming the administration of Culbreth Park, including the ongoing management of second mortgages from the Town to homebuyers in the subdivision. Although the project was not at a stage that administration could be delegated from the Town to OCHC, we completed research regarding Culbreth Park's progress and provided comments to the Town and the developer about the project's development, financing, and marketing. We are continuing to work with Culbreth Park Community Development Corporation regarding other housing development opportunities, and we have left open the question of long -term administration of the Town's second mortgages. Orange Community Housing Corporation FY 1990 -91 Annual Report Page 2