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