Agenda - 12-07-2020; 8-a - Minutes

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5 1 2 BACKGROUND: In the fall of 2016, Orange County voters passed a $5 million Affordable 3 Housing Bond. Half of the bond funds ($2.5 million)were awarded in 2017. The 2020 4 application cycle is for the remaining $2.5 million of the bond funds. 5 Eligible projects are new construction and/or rehabilitation for homeownership and/or rental 6 development affordable to low-income households. Projects may be mixed-use and/or mixed- 7 income. No more than 20% of residential units may be set aside for people with disabilities, in 8 compliance with best practices outlined in the State of North Carolina's Olmstead settlement 9 agreement. Land banking is not an eligible use. 10 11 Eligible applicants for funding are: nonprofit organizations involved in affordable housing and 12 community development (including faith-based organizations), for-profit developers, and joint 13 ventures between eligible nonprofit and for-profit entities. 14 15 The application evaluation scorecard (see Attachment 1) considers the following factors for 16 each proposed project: (1) income and vulnerable population targeting, (2) targeting of 17 households currently living and/or working in Orange County, (3) leveraging of other funding 18 sources, (4) building and site design, including environmental sustainability and accessibility 19 features, (5) community design, including neighborhood compatibility and location, (6) 20 community sponsorship, engagement, and support, (7) project feasibility, and (8) developer 21 experience. 22 23 The application cycle opened on June 8, 2020 and closed on July 31, 2020. Four applications 24 were submitted, summarized below and in Attachment 2. 25 26 Weaver's Grove (Habitat for Humanity): $817,080 27 Community Partners: N/A 28 Funds will be used to assist with infrastructure and site improvement costs for Weavers Grove, 29 Habitat's future development of 100 affordable homes off of Sunrise Road in Chapel Hill. Habitat 30 also plans to sell 136 finished lots to market-rate builders to develop entry-level homeownership 31 opportunities. The project's vision is to create a thriving, mixed-income community of homes 32 that are aesthetically pleasing, architecturally integrated, and energy efficient. This would be the 33 first affordable housing development in this section of Chapel Hill. 34 35 Chase Park Apartments Stairwell Rehabilitation (InChuCo): $165,840 36 Community Partners: N/A 37 Funds will be used to make critical repairs to 8 elevated stairwell landings between the upper 38 levels of the 4 residential buildings at Chase Park Apartments, a 45-year old complex home to 39 40 affordable units. The stairwell landings require immediate attention because of their 40 deteriorated condition. Further, heavy rainfall from Hurricanes Michael and Florence damaged 41 the road and now the creek-side lane is closed. However, HUD will not endorse a loan to repair 42 the only road into and out of the complex until the stairwell landings are replaced. The 43 complex's estimated remaining useful life is estimated to be at least an additional 40 years 44 barring any natural disasters 45 46 PEACH Apartments (EmPOWERment, Inc.): $700,000 47 Community Partner(s): Pine Knolls Community Center 48 Funds will be used to construct 8 affordable rental apartments in the Northside Neighborhood 49 Conservation District at the location of the former Pine Knolls Center. This project will produce a 50 mixed-income, multigenerational apartment building that will honor the historical culture of this 51 neighborhood.