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Comprehensive Housing Strategy <br />Prepared for the Orange County HOME Consortium including the Towns of <br />Carrboro, Chapel Hill, and Hillsborough, North Carolina <br />Training & Development Associates, Inc. will provide an overall housing market analysis <br />for the Orange County consortium area as well as for the constituent towns of Carrboro, <br />Chapel Hill, and Hillsborough. In doing so, we will provide an analysis of historical data <br />(from the past 10 years), current numbers, and projections of housing needs for a five - <br />year period. TDA will include in the Comprehensive Housing Strategy for Orange <br />County all the required elements described in the RFP, including an executive summary, <br />analysis of housing activity and production, future demand, gaps analysis, discussion of <br />strategies, as well as a comprehensive inventory of affordable housing currently available <br />in the County. <br />Required Elements: <br />1. Executive Summary <br />In the executive summary, TDA will provide a general description of the housing <br />market in the consortium area and in individual constituent areas as well as the <br />balance of the county. We will document general trends, and we will also <br />highlight specific areas that are not adequately explained by these trends, noting <br />how the housing supply or demand for these areas differs from the surrounding <br />region. <br />2. Analysis of Housing Production Activity <br />TDA will analyze and evaluate current and historical housing production activity <br />with consideration of the geographic and economic descriptions of construction <br />type, tenure, and price (or rent). In doing so, we will utilize information provided <br />by the constituent planning departments (in each town and the county). We will <br />also consult building permit records in each town and the county to determine the <br />total number of housing starts over the historical period of our study. We will also <br />consult with the constituent departments of housing to obtain the number of new <br />assisted housing units. <br />3. Analysis of Housing Sales and Lease Activity <br />TDA will analyze and evaluate new construction sales and existing home resale <br />activity across Orange County. To do so, we will access detailed data from the <br />Multiple Listing Service to obtain historical and current sales information. As <br />described in Item 7 below, we will also contact developers of subdivisions that <br />have been platted for information on ongoing construction, sales, and future plans. <br />For lease information, we will contact by telephone area apartment complexes and <br />property managers to update census information to determine the number of rental <br />units available in the area, rents, and vacancy rates. <br />4. Comprehensive Inventory of Affordable Housing Stock <br />As an add -on to our original proposal, TDA will develop a comprehensive count <br />of all affordable housing units in the County. To do so, we will supplement counts <br />of subsidized housing in the area with information from MLS listings and <br />building permits to determine the number of housing units that are affordable to <br />residents earning 80 percent of the area median income or below. <br />i4? _A/ 21 2 %7 <br />