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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 2, 2019 <br /> Action Agenda <br /> Item No. 6-b <br /> SUBJECT: Approval to Acquire Property at 509 Central Avenue, Hillsborough <br /> DEPARTMENT: Housing and Community <br /> Development <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> (1) Photographs of the Property, Sherrill Hampton, Housing and <br /> including the GIS Property Map Community Development Director, <br /> (2) Draft Offer to Purchase and (919) 245-2490 <br /> Contract and Addendum to Offer to <br /> Purchase and Contract <br /> (3) Draft Resolution <br /> PURPOSE: To adopt a resolution: <br /> 1) Approving the exercise of the County's Right of First Refusal and the acquisition of <br /> property at 509 Central Avenue, Hillsborough, NC 27278 at a purchase price to be <br /> negotiated but not to exceed $171,000 plus other associated closing costs, including <br /> the cost of any ad valorem taxes due on the property following closing for the year, in <br /> order to maintain the said property for affordable housing purposes. If the acquisition <br /> is approved, the funds for purchase will be paid out of the Affordable Housing Land <br /> Banking Fund; and <br /> 2) Authorizing the County Manager, after consultation with the County Attorney and/or <br /> the closing attorney retained by the County, to execute the necessary sale documents <br /> with the seller, Shannon Brown; and <br /> 3) Authorizing the County Manager, after consultation with the County Attorney, to <br /> execute the necessary documents to transfer purchased property at 509 Central <br /> Avenue, Hillsborough, NC 27278 to EmPOWERment, Inc. for use as an affordable <br /> rental unit. The unit will be rehabbed before the transfer to EmPOWERment, Inc. <br /> takes place. The rehabilitation cost will be paid out of County HOME or other <br /> applicable housing rehabilitation funds. <br /> BACKGROUND: On February 20, Delores Bailey, Executive Director of EmPOWERment, Inc., <br /> contacted Orange County's Housing and Community Development Department (H&CD) about <br /> the proposed sale of 509 Central Avenue, Hillsborough, NC and the required pay-off of a $5,000 <br /> second mortgage and satisfaction of the associated Deed of Trust for Shannon Brown, the <br /> owner of the property. H&CD staff notified the County Attorney's Office and began the process <br /> of review. <br />