Browse
Search
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
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2010's
>
2018
>
Agenda - 02-06-2018 Regular Meeting
>
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
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
2/1/2018 5:24:55 PM
Creation date
2/1/2018 5:45:38 PM
Metadata
Fields
Template:
BOCC
Date
2/6/2018
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6-a
Document Relationships
Agenda - 02-06-2018 Regular Board Meeting
(Message)
Path:
\Board of County Commissioners\BOCC Agendas\2010's\2018\Agenda - 02-06-2018 Regular Meeting
Minutes 02-06-2018
(Message)
Path:
\Board of County Commissioners\Minutes - Approved\2010's\2018
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
3
PDF
View images
View plain text
P <br />All properties that are being considered for disposition are small, aging and /or scattered site and <br />are not consistent with CASA's current business model. The proposed disposition allows CASA <br />to capture the value in the properties and reinvest in other rental properties that are more cost - <br />efficient to manage. The disposition also allows for other entities with the correct business <br />model and capacity to take ownership and maintain the units as affordable housing. <br />The proposed disposition of the four (4) scattered site condos to the Town of Chapel Hill is only <br />a transfer in ownership - no sale proceeds will be generated. If the proposed transfer is <br />approved, restrictions regarding "affordability" under the current Agreement will be assumed by <br />the new owner. The units are occupied and the Town intends to keep all current tenants in <br />place. However, when vacancies occur, the Town will utilize the units as transitional housing for <br />families preparing to move out of Public Housing as their economic situation improves. The <br />maximum allowable income for an individual or family occupying the units would be 50% of the <br />area median income (AMI). The Town of Chapel Hill will manage the units, perform annual <br />tenant certifications and conduct routine maintenance. <br />The Town had the units inspected by a licensed home inspection company. All units are in <br />need of some level of rehabilitation, ranging from light /moderate to substantial. The Chapel Hill <br />Town Council has adopted a resolution accepting the transfer of the four (4) units, and <br />authorizing up to $65,000 to be used toward renovation costs and the satisfaction of a private <br />mortgage on the units, if the BOCC approves the transfer. <br />FINANCIAL IMPACT: No negative financial impact is associated with approving CASA's <br />request to transfer ownership of the four (4) scattered site condos to the Town of Chapel Hill. <br />SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goals are applicable <br />to this agenda item: <br />• GOAL: FOSTER A COMMUNITY CULTURE THAT REJECTS OPPRESSION AND <br />INEQUITY <br />The fair treatment and meaningful involvement of all people regardless of race or color; <br />religious or philosophical beliefs; sex, gender or sexual orientation; national origin or <br />ethnic background; age; military service; disability; and familial, residential or economic <br />status. <br />• GOAL: ENSURE ECONOMIC SELF - SUFFICIENCY <br />The creation and preservation of infrastructure, policies, programs and funding necessary <br />for residents to provide shelter, food, clothing and medical care for themselves and their <br />dependents. <br />The creation and preservation of affordable housing options helps to meet a basic need <br />and advances economic self- sufficiency. <br />• GOAL: CREATE A SAFE COMMUNITY <br />The reduction of risks from vehicle /traffic accidents, childhood and senior injuries, gang <br />activity, substance abuse and domestic violence. <br />Affordable housing options allow individuals to reduce risks associated with being un- <br />housed. <br />2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).