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26 <br /> RES-2019-020 Attachment 3 <br /> RESOLUTION <br /> Authorizing the Acquisition of Property at 509 Central Avenue, Hillsborough, NC <br /> For <br /> Affordable Housing Purposes <br /> BE IT RESOLVED, the Orange County Board of Commissioners approves the exercise of the <br /> County's First Right of Refusal and the acquisition of property at 509 Central Avenue, <br /> Hillsborough, NC at a purchase price to be negotiated but not to exceed $171,000 plus the <br /> associated closing costs, including the cost of any ad valorem taxes due on the property following <br /> closing for the year, in order to maintain the said property for affordable housing purposes. The <br /> purchase price and associated closing costs will be paid from the County's Affordable Housing <br /> Land Banking Fund; and <br /> BE IT RESOLVED, that the Orange County Board of Commissioners also authorizes the <br /> County Manager, after consultation with the County Attorney and/or the Closing Attorney <br /> retained by the County, to execute the necessary sale documents with the seller, Ms. Shannon <br /> Brown; and <br /> BE IT FURTHER RESOLVED, that the Board of County Commissioners authorizes the <br /> County Manager, after consultation with the County Attorney and/or the Closing <br /> Attorney retained, to execute the documentation necessary to transfer the property at <br /> 509 Central Avenue, Hillsborough, NC to EmPOWERment, Inc., after acquisition and <br /> the rehabilitation of the unit has been completed. <br /> This day of , 2019 <br /> Penny Rich, Chair <br /> Orange County Board of Commissioners <br /> SEAL <br />