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30 1 Commissioner Price said this is important in this neighborhood, and in this area. She 2 said affordable homes need to be maintained, and this area could get gentrified very quickly if 3 proactive steps are not taken. She supported the motion. 4 Chair Rich said she remembers comments in the past that Hillsborough does not have 5 an affordable housing problem, but this is no longer true. She said all should be concerned 6 about this, and be proactive. 7 Commissioner McKee asked if the normal protocol is to capture half of the net profit on 8 the sale of any house. 9 Sherrill Hampton said that is a non-qualified buyer is purchasing true if that property, 10 i.e.: they are not low income. 11 Commissioner McKee asked if the house will be sold back to a low-income person. 12 Sherrill Hampton said it will become an affordable rental. 13 14 A motion was made by Commissioner Greene, seconded by Commissioner Price for the 15 Board to adopt a resolution: 16 1) Approving the exercise of the County's Right of First Refusal and the acquisition of 17 property at 509 Central Avenue, Hillsborough, NC 27278 at a purchase price to be 18 negotiated but not to exceed $171,000 plus other associated closing costs, including the 19 cost of any ad valorem taxes due on the property following closing for the year, in order 20 to maintain the said property for affordable housing purposes. If the acquisition 21 is approved, the funds for purchase will be paid out of the Affordable Housing Land 22 Banking Fund; and 23 2) Authorizing the County Manager, after consultation with the County Attorney and/or the 24 closing attorney retained by the County, to execute the necessary sale documents with 25 the seller, Shannon Brown; and 26 3) Authorizing the County Manager, after consultation with the County Attorney, to execute 27 the necessary documents to transfer purchased property at 509 Central Avenue, 28 Hillsborough, NC 27278 to EmPOWERment, Inc. for use as an affordable rental unit. 29 The unit will be rehabbed before the transfer to EmPOWERment, Inc. takes place. The 30 rehabilitation cost will be paid out of County HOME or other applicable housing 31 rehabilitation funds. 32 33 VOTE: UNANIMOUS 34 35 c. Consideration to Discontinue the Durham-Orange Light Rail Protect 36 The Board considered voting to discontinue the Durham-Orange Light Rail Project as 37 recommended by the Go Triangle Board of Trustees. This action will satisfy the requirements of 38 the Interlocal Cost Sharing Agreement for the Durham-Orange Light Rail Transit Project by 39 formally discontinuing the project and beginning a process to reallocate funds that had been 40 allocated to the light rail project through an amended Orange County Transit Plan. 41 42 Travis Myren presented the information below: 43 44 BACKGROUND: 45 On March 27, 2019, the GoTriangle Board of Trustees voted unanimously to recommend that 46 the cost-sharing partners in Durham and Orange counties and the Durham - Chapel Hill - 47 Carrboro Metropolitan Planning Organization discontinue the light-rail project. 48 49 According to a statement issued by GoTriangle (Attachment 2), the Federal Transit 50 Administration informed GoTriangle leadership that due the continued uncertainty with Duke