Minutes 10-05-2021 Virtual Business Meeting

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22 community did not want to include age limit when creating the program, because there are people across age groups dealing with these issues. Commissioner Richards said the issue of heir's property came up while she was looking into this program. She said the idea of a clawback is something that might be included if the home in sold to developer or investor, instead of being passed down to an heir if concern if neighborhood preservation is the goal. She said this is a way to sustain the program once ARPA money is gone. She said part of concern with age is if there is a 25 year old that inherits a property and wanted to stay in the neighborhood, the tax impact will be the same to them. She said for future funding it could be treated one way if it is an heir property, even though it would require more investigation for county staff. She said this would have to apply across the county. She said she thinks this is an interesting concept if the property will be sold for investment. Nancy Freeman said if the property is being sold or passed down, there is still the requirement that the property has been owned for 10 years, and that time clock would start over again at that time. Commissioner Hamilton said she looks at this program as a way to help people who barely make enough to make ends meet, and to stretch money more. She said for these types of residents clawbacks are needless complications, and each homeowner should be considered on their own income. She said she understands the point of funding the program in the future. She said this program can be viewed as a pilot and, based on impact, the Board can determine whether to continue funding or not. Commissioner McKee said he appreciated Commissioner Greene clarifying the clawback on farm use, as it is not necessarily the seller who pays it, and is quite often the buyer. He said the reason he brought that up because if the home is sold for development, it is coming out of what the goal of the Board is. He said he doubts a buyer in Chapel Hill or Carrboro will flinch at a few thousand more dollars for the necessity of covering the payback of the subsidy. He clarified he is not interested in a generational clawback. He said he thinks the program is trying to maintain the ability of residents to stay in their homes, while their home values are increasing. He said he is glad to hear the reminder from Commissioner Richards that this will be a countywide program, because a lot of discussion surrounds urban areas. He said his only issue with program is the age requirement, and he would like to keep the focus on the aging population near retirement age Chair Price said she would like to see this program without age limits, since there are other relief options with age requirements. A motion was made by Commissioner Richards, seconded by Commissioner Hamilton, to approve the proposed Longtime Homeowner Assistance program design, with the removal of the age requirement. Commissioner Bedford asked for clarification on whether or not the calculations Travis Myren mentioned earlier only included those over age 62. Travis Myren said no. Commissioner Greene said she is struggling with the age, and age 50 could be a compromise. She said since this is a pilot, would it be better to start with less restrictions and add more later, if necessary, or have age limit now and open it up in the future. Chair Price said she wants to keep people in their homes, regardless of age. She said there are young families who may have lost jobs over the past year, but want to stay in the same home. She said gentrification may continue, and it may be difficult to maintain income. She said the point of the program is to keep people in homes regardless of age.