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Agenda - 02-06-2018 6-a - Approval of Transfer of Rental Property from CASA to the Town of Chapel Hill for Continued Affordable Housing Use
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Agenda - 02-06-2018 6-a - Approval of Transfer of Rental Property from CASA to the Town of Chapel Hill for Continued Affordable Housing Use
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BOCC
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2/6/2018
Meeting Type
Regular Meeting
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Agenda
Agenda Item
6-a
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Agenda - 02-06-2018 Regular Board Meeting
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\Board of County Commissioners\BOCC Agendas\2010's\2018\Agenda - 02-06-2018 Regular Meeting
Minutes 02-06-2018
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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 6, 2018 <br />Action Agenda <br />Item No. 6 -a <br />1 <br />SUBJECT: Approval of Transfer of Rental Property from CASA to the Town of Chapel Hill <br />for Continued Affordable Housing Use <br />DEPARTMENT: Department of Housing and <br />Community Development <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Sherrill Hampton, 919 - 245 -2490 <br />PURPOSE: To approve CASA's transfer of four (4) scattered site condos in Chapel Hill to the <br />Town of Chapel Hill for continued affordable housing use. The request is being made based on <br />CASA's current Agreement with the County and its requirement for having the Board of County <br />Commissioners' (BOCC) approval when transfers to entities other than a non - profit occur. <br />BACKGROUND: In 2009, CASA assumed ownership of 20 units of scattered -site housing in <br />Orange County when a local non - profit dissolved. CASA collaborated with Orange County to <br />ensure that the units remained in use as affordable housing. CASA undertook extensive interior <br />rehab work on all the units. At the present time, CASA feels that individual condos are not a <br />sustainable model for affordable rentals. In the condo model, the owner does not control the <br />costs of the HOA dues and special assessments or the schedule of preventive maintenance and <br />capital replacements. <br />The current status of the 20 -unit portfolio is as follows: <br />• 1 unit, a single- family home in Hillsborough at 2308 Redbird Lane, was sold to <br />EmPowerment in 2017. As the transfer was to another non - profit, per CASA's current <br />Agreement with Orange County, the Board of County Commissioners did not need to <br />approve the transaction. <br />• 1 additional scattered site condo was also transferred to EmPowerment in 2016. <br />• 3 scattered site condos in Carrboro are proposed to be sold in 2018. <br />• 4 additional scattered site condos in Chapel Hill are to be sold in 2018. EmPowerment is <br />considering the acquisition of these units. <br />• 4 scattered site condos in Chapel Hill are proposed for transfer to the Town of Chapel Hill <br />and are the subject of this Abstract. <br />• 7 units will continue to be held by CASA, including: <br />0 2 duplexes in Chapel Hill (4 units) <br />0 2 homes on one lot in Carrboro (3 units) <br />
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