Agenda - 12-04-2000-8p - Laserfiche WebLink

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2 The request has been reviewed in accordance with the above stated eligibility criteria and determined eligible for reimbursement. Results of Eligibility Review 1. Household Income: a. Family #1: Family of one Annual Income: $14,880 b. Family #2: Family of six Annual Income: $22,000 c. Family #3: Family of two Annual Income: $22,008 d. Family #4: Family of three Annual Income: $21,816 e. Family #5: Family of two Annual Income: $16,536 f. Family #6: Family of five Annual Income: $27,456 g. Family #7: Family of four Annual Income: $24,960 h. Family #8: Family of two Annual Income: $22,912 All incomes are less than 50% of the area HUD published median income. Z. Purchase Price: $67,500 3. Certification of 2Q year Affordability: Habitat for Humanity of Orange County, NC, Inc. certifies in writing that the eleven homes will remain affordable to families earning less than 80% of the area median income for at least ninety-nine (99) years. In addition, Habitat retains a right of first refusal for the life of its mortgage (20 to 30 years) on all homes it sells, and will buy back any of the homes that would otherwise be sold to non-income eligible buyers. 4. Documentation of Impact Fee Payment Yes FINANCIAL IMPACT: The approved 2001-02 budget included a total of $127,500 for reimbursement of impact fees. This amount provides for reimbursements to Habitat for Humanity ($10,500), EmPOWERment ($12,000), Orange Community Housing for Scarlet Drive ($42,000), and First Baptist Church ($63,000). The amount for First Baptist will be combined with funds appropriated by the Board in fiscal year 1999-00 for a total of $123,000. This is the first reimbursement request received by the County for this fiscal year. RECOMMENDATION(S): The Manager recommends approval of the impact fee reimbursement request from Habitat for Humanity of Orange County, NC, Inc. for $6,000 for eight new homes.