Agenda 06-18-19 Item 8-t - Approval of the Transfer of Ownership of Two (2) Manufactured Home Units to EmPOWERment, Inc.

Browse Search

the indoor air quality of their existing unit. The existing unit was beyond repair and had exceeded the unit lifespan as determined by the manufacturer. The Displacement Mitigation Assistance Program (DMAP) has a lease-purchase component that allows for manufactured home park tenants who received a replacement unit under the program to purchase their units after twelve (12) months of successful renting. The home must be affordable and payments must not exceed thirty percent (30%) of their household income. The proposed transfer of ownership of the two (2) new manufactured home units to EmPOWERment, Inc. would allow for the activation of the lease-purchase component. The formula for calculating the purchase price for each of the units is as follows: • Purchase price shall not exceed seventy percent (70%) of the original base purchase price and the mortgage shall be for a period of 10 years with a zero percent interest rate. o 3-Bedroom Unit: $30,824 X 70% = $21,576.80. $21,576.80/10= $2,157.68. $2,157.68/12 = $179.81 per month. o 2-Bedroom Unit: $29,633 X 70% = $20,743.10. $20,743.10/10= $2,074.31. $2,074.31/12 = $172.86 per month Note that the above monthly amounts paid by tenants to EmPOWERment, Inc. under the lease- purchase component will be transferred to the County on a monthly basis. To date, one tenant has expressed interest in purchasing the manufactured home. FINANCIAL IMPACT: There is no negative impact to the County. However, the value of the asset or manufactured homes will be transferred to EmPOWERment, Inc., but all mortgage payments will be returned to Orange County. SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goals are applicable to this item: • GOAL: FOSTER A COMMUNITY CULTURE THAT REJECTS OPPRESSION AND INEQUITY The fair treatment and meaningful involvement of all people regardless of race or color; religious or philosophical beliefs; sex, gender or sexual orientation; national origin or ethnic background; age; military service; disability; and familial, residential or economic status. • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY The creation and preservation of infrastructure, policies, programs and funding necessary for residents to provide shelter, food, clothing and medical care for themselves and their dependents. The creation and preservation of affordable housing options helps to meet a basic need and advances economic self-sufficiency. • GOAL: CREATE A SAFE COMMUNITY The reduction of risks from vehicle/traffic accidents, childhood and senior injuries, gang activity, substance abuse and domestic violence. Affordable housing options allow individuals to reduce risks associated with being un- housed. 2