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A;11Z,:saL 9.z <br />HILLSBOROUGH SAVINGS <br />Mr. Moses Carey, Chairman <br />Orange County Board of Commissioners <br />Post Office Box 8181 <br />Hillsborough, North Carolina 27278 <br />Dear Mr. Carey, <br />AND LOAN ASSOCIATION <br />260 SOUTH CHURTON STREET <br />P.O. BOX 1000 <br />HILLSBOROUGH, NORTH CAROLINA 27278 -1000 <br />TEL. 919 - 732 -2143 <br />FAX 919- 732-WI <br />May 21, 1992 <br />The Hillsborough Savings and Loan Association Board of <br />Directors wishes to go on record as opposing the proposed impact <br />fee. We oppose the impact fee for the following reasons; <br />1. The fee is another form of tax. Property tax, at best, <br />is an unfair tax. The implementation of an impact fee <br />would make the taxes in Orange County even more unfair. <br />2. The cost of living in Orange County is already above the <br />North Carolina State average. To impose the fee would <br />increase the cost of living even more for Orange County <br />Citizens. <br />3. The implementation of the fee would impose a greater <br />burden on existing Orange County Citizens rather than on <br />new home - owners moving into the county. Why would anyone <br />want to move to Orange County and build a home when one <br />could move to an adjacent county and build a home for <br />approximately $3,000.00 less? Many local real estate <br />developers already develop in adjacent counties because <br />of the burdensome process of developing home -sites in <br />Orange County. <br />4. The Orange County Commissioners have previsously <br />expressed an interest in "affordable" housing in the <br />county. The implementation of the impact fee appears to <br />be a step in the wrong direction. As the impact fee is <br />across the board without regard to size, location, <br />income, etc, the low income population would suffer the <br />greatest burden. This also creates a "regressive tax" <br />situation. <br />5. One of the criteria that an industry looks at is the cost <br />of moving its employees. It appears that an industry <br />••,...... sr <br />