Orange County NC Website
1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: April 6, 2021 <br /> Action Agenda <br /> Item No. 8-g <br /> SUBJECT: Merritt Mill Apartments Development Updates <br /> DEPARTMENT: Housing and Community <br /> Development <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Emila Sutton, Director, Housing and <br /> Community Development, (919) 245- <br /> 2490 <br /> PURPOSE: To receive an update on changes to the Merritt Mill developments being financed in <br /> part with Affordable Housing Bonds Funds and consider authorizing the developments to move <br /> forward as detailed. <br /> BACKGROUND: In the fall of 2016, Orange County voters approved a $5 million Affordable <br /> Housing Bond. Half of the bond funds ($2.5 million) were awarded in 2017, with CASA, a 501(c)3 <br /> affordable housing developer, receiving two allocations totaling $1,373,366 for the construction of <br /> affordable rental units. CASA's Merritt Mill East project was awarded $636,533 to fund the <br /> development of 12 new rental units and Merritt Mill West received $736,833 to construct 16 new <br /> rental units. Both developments were proposed to serve families earning at or below 50% of the <br /> area median income, with priority for people with disabilities and/or experiencing homelessness. <br /> Since 2017, the projects have evolved to provide more affordable housing opportunities for low- <br /> and moderate-income Orange County residents. The two separate projects have merged into one <br /> 48-unit apartment development to serve families and individuals earning less than 60% of the <br /> area median income, and in 2020, CASA received a Low-Income Housing Tax Credit award from <br /> the North Carolina Housing Finance Agency to finance the project. <br /> Due to these changes, all future documents such as development agreements will need to be <br /> executed between the County and Merritt Mill Apartments, LLC rather than CASA. CASA will be <br /> the managing member of the LLC. The ceremonial groundbreaking for Merritt Mill is scheduled <br /> for April 2021, with construction to begin later in the spring. CASA has consistently communicated <br /> its progress on this development with County staff, and requests approval from the Board to make <br /> the necessary changes to the development agreement for County Bond funding in order to <br /> execute the agreement. <br /> FINANCIAL IMPACT: There are no financial impacts anticipated with this item. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goals are applicable to <br /> this item: <br />