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REC'DFEB232001 <br />February 21, 2001 <br />Board of <br />Directors <br />Korth D. Cask <br />Chairman <br />Wayne Kuncl <br />vice-Chairman <br />Josh Gurlifz <br />secretary <br />Rabin .Lsclcey <br />Jaravbs <br />Marion Bnavks <br />Jim F,arnhardt <br />Jim GiUazi <br />weedy <br />Famirrgton <br />Jae Keg <br />Rachael <br />Murphey <br />GarrySrnnce <br />;John 7Jvrnell' <br />Bob Ward <br />Executive <br />Director <br />RobertD6vwlimg <br />Board of County Commissioners <br />Chapel Hill Town Council <br />Carrboro Board of Aldermen <br />Hillsborough Town Board <br />Dear Orange County Elected Officials: <br />This letter comes to you from Orange Community Housing Corporation (OCHC) <br />and the Community Land Trust in Orange County (CLTOC). As you already <br />know, OCHC has provided staffing for CLTOC since the inception of the land <br />trust in May 1999. After several months of consideration, we believe both <br />organizations would significantly benefit by merging to form one nonprofit <br />corporation. We are writing to request your endorsement of this merger. <br />The primary, and compelling, motivations for merging OCHC and CLTOC are <br />as follows: <br />1. A merged organization with one board of directors will possess greater clazity <br />of mission and purpose. <br />2. A merged organization will allow greater operational efficiencies. <br />The merger would be largely transparent to you, our government fenders. A <br />board of directors that will include an appointee from each of the local governing <br />boards will still govern OCHC (which may possibly be renamed in the course of <br />the merger). In fact, we expect many of the existing board members from both <br />OCHC and CLTOC to remain with the new organization. <br />We will retain the same staff and will continue to work on existing projects like <br />Legion Road, Meadowmant, Milton Avenue, the TANF program, etc. However, <br />direction to the staff will come from a single boazd, rather than two independent <br />boards. The new organization will be free to pursue projects within the land trust <br />structure (which will be preferred) or outside of the land trust if necessary. We <br />will also pursue collaborations with other providers of affordable housing. <br />On the advice of our accountant, we hope to make the merger effective on July 1, <br />2001, the start of the new fiscal yeaz. This will simplify accounting matters for <br />OCHC, CLTOC and the new organization. As we prepaze for this possible <br />merger, we wanted to be su_ re you were all aware of our plans. We very much <br />appreciate the support you have provided us aver the yeazs and we hope to work <br />even more closely with all of you in the future. <br />3 <br />P. D. Box 307 ~ 104_Clones FexxyRd ~ Carrbom, NC Z75I0 ~ 919--967-154,5 ~ Fax 9I9-96&-40.30 <br />