Orange County NC Website
2 <br /> The Tar Heel Mobile Home community was sold approximately 20 months ago. At that time <br /> the new owners shared with the tenants the vision to build a gas station and a three-story <br /> storage unit. The owners shared at that time some residents were going to be re-located in <br /> other parts of the park and also warned some leases were not going to be renewed. One of <br /> those families is the recipient of this third manufactured home. The family has two working <br /> adults and five children living in the home, and have lived in the current home for almost 15 <br /> years. Per the landlord, leaving the park was their only option, and as such, EmPOWERment <br /> determined this family was a candidate for the DMAP program. <br /> The Displacement Mitigation Assistance Program (DMAP) has a lease-purchase component <br /> that allows for manufactured home park tenants who received a replacement unit under the <br /> program to purchase units after twelve (12) months of successful renting. The home must be <br /> affordable and payments must not exceed thirty percent (30%) of the household income. The <br /> proposed transfer of ownership of the one (1) new manufactured home units to <br /> EmPOWERment, Inc. would allow for the activation of the lease-purchase component. The <br /> formula for calculating the purchase price for each of the units is as follows: <br /> • Purchase price shall not exceed seventy percent (70%) of the original base purchase <br /> price and the mortgage shall be for a period of 10 years with a zero percent interest <br /> rate. <br /> 0 3-Bedroom Unit: $30,824 X 70% _ $21,576.80. $21,576.80/10= $2,157.68. <br /> $2,157.68/12 = $179.81 per month. <br /> 0 2-Bedroom Unit: $29,633 X 70% _ $20,743.10. $20,743.10/10= $2,074.31. <br /> $2,074.31/12 = $172.86 per month <br /> Note that the above monthly amounts paid by tenants to EmPOWERment, Inc. under the <br /> lease-purchase component will be transferred to the County on a monthly basis. To date, one <br /> tenant has expressed interest in purchasing the manufactured home. <br /> FINANCIAL IMPACT: There is no negative impact to the County. However, the value of the <br /> asset or manufactured homes will be transferred to EmPOWERment, Inc., but all mortgage <br /> payments will be returned to Orange County. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goals are <br /> applicable to this item: <br /> • GOAL: FOSTER A COMMUNITY CULTURE THAT REJECTS OPPRESSION AND <br /> INEQUITY <br /> The fair treatment and meaningful involvement of all people regardless of race or color; <br /> religious or philosophical beliefs; sex, gender or sexual orientation; national origin or <br /> ethnic background; age; military service; disability; and familial, residential or economic <br /> status. <br /> • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY <br /> The creation and preservation of infrastructure, policies, programs and funding <br /> necessary for residents to provide shelter, food, clothing and medical care for <br /> themselves and their dependents. <br /> The creation and preservation of affordable housing options helps to meet a basic human need <br /> and advances economic self-sufficiency. <br /> • GOAL: CREATE A SAFE COMMUNITY <br /> The reduction of risks from vehicle/traffic accidents, childhood and senior injuries, gang <br /> activity, substance abuse and domestic violence. <br />