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18 <br /> R00O2 Contact Information <br /> www.commonenterprise.coop www.ROCUSA.ore <br /> 919-246-9929 Mary O'Hara <br /> Durham, North Carolina mary@rocusa.org <br /> Thomas Beckett <br /> thomas@commoneriterprise.coop <br /> Teia Evans <br /> teia@commanenterprise.coop RM <br /> CAROLINAS <br /> 1 <br /> 2 <br /> 3 Commissioner Fowler thanked the presenters. She said there are big pressures on <br /> 4 mobile home communities in Chapel Hill. She asked if clarification could be provided on how <br /> 5 the program would help communities in Chapel Hill. <br /> 6 Thomas Beckett said the program can help communities by creating opportunities for <br /> 7 financing so they can purchase their properties, and remove them from the speculative market. <br /> 8 He said properties with a high asset value have a high purchase price. He said the program <br /> 9 can help with financing, but a higher price makes the rent unaffordable for residents. He said in <br /> 10 these types of situations, the program looks for alternative financing to reduce the costs of the <br /> 11 loan for residents. <br /> 12 Mary O'Hara said meeting the purchase price of a high asset value can make it difficult <br /> 13 for residents, so the program seeks financial assistance from community groups or local <br /> 14 governments. She said, in some cases, government funding can lower the interest rate, which <br /> 15 makes it more affordable for residents. <br /> 16 Chair Price said she spoke this morning with the local Mayors, and it was suggested that <br /> 17 the Orange County Affordable Housing Collaborative be enlarged by adding a member from <br /> 18 each jurisdiction, and including non-profit organizations that work with housing. She said the <br /> 19 collaborative could research programs like ROC USA and Carolina Common Enterprise. She <br /> 20 said the Board of County Commissioners (BOCC) could expand the charge of the Affordable <br /> 21 Housing Collaborative. <br /> 22 Commissioner Dorosin said local government can aid in financing, and asked if there are <br /> 23 other ways local government could be involved. He noted previous ideas for assisting residents <br /> 24 in mobile home parks. He said he is not sure adding so many members to the Affordable <br /> 25 Housing Collaborative would be useful, since any decisions would have to come back to the <br /> 26 local governing boards for approval. <br /> 27 Commissioner Dorosin asked if there are criteria for choosing mobile home parks to <br /> 28 assist through programs like ROC USA. <br /> 29 Mary O'Hara said every affiliate has targeted areas, but also review areas that come up <br /> 30 for sale. She said the affiliates tend to target bigger areas and developments. She said <br /> 31 investors look for areas where rents are lower, as there is a greater ability to increase rent. She <br /> 32 said infrastructure funding and financing are critical, since some developments have <br /> 33 maintenance issues. She said the public sector can also provide incentives to the community <br /> 34 owners to sell to the residents, and some have used zoning to address alternative use issues. <br /> 35 Commissioner McKee asked if this was exclusive to owner-occupied or renter-occupied <br /> 36 homes. He asked if the increase in rents can be identified, as many residents are already living <br /> 37 on little funds. <br /> 38 Mary O'Hara said ROC typically looks for owner-occupied homes, as they are more <br /> 39 suited for set up a resident cooperative. She said if more than 25% of the homes are rented, it <br />