Agenda - 02-17-2004-9e4 - Laserfiche WebLink

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Orange Community Housing and Land Trust Information for Board of Directors members Some background Orange Community Housing and Land Trust (OCHLT) was created in July 2001 as the result of merging two exisfing non-profit organizations. Since 1991, Orange Commtmity Housing Corporation (OCHC) had created a variety of rental and owner-occupied housing, focusing on families and individuals with income levels at or below median income in Orange County. Its operational funding was provided by the four local govemments of Orange County, the Town of Chapel Hill, the Town of Carrboro ~md the Town of Hillsborough. Ln 1999, the Community Land Trust in Orange County (CL,TOC) was established to provide opportunities for low- and modernte- incame households to secure decent, affordable housing and keep it permanently affordable utilizing the community land trust model. CLTOC was staffed by OCHC and partnered with OCHC to develop the first land trust project, the Legion Road Townhomes in Chapel Hill. With the support of both organizations and the four local governments, OCHLT was formed in order to achieve greater operational and fiscal efficiency, as well as a strengthened mission and purpose regarding affordable housing. A community land trust (CLT) keeps housing affordable for future generations by controlling the price owners receive when they sell their homes, It balances a homeowner's ability to develop wealth with the community's desire to maintain a variety of housing affndable to all of its citizens. The CLT model was created in the 1S~70s; there are presently over 120 CL,Ts throughout the United States. Composition of the Board of Directors • The Boazd shall represent a diver.>ity of technical skills to enable the Board to make informed, well-balanced decisions on the economic viability and social impact of its activities • There shall be socio-economic, racial, gender and geographic diversity among the Boazd of Directors There are I8 directors, as folEorvs • [6] Lessee Representatives Nominated by Lessee Member:; and elected by the R,egulaz Membership • [6] General Representatives ~,_^___._.~lominateti_lzy Gene_ ___ral_Membe.rs and elected by the Regular Membership + [6] Public Representatives 1 A ointed by the Orange County Board of Commissioners ~ (1) Appointed by the Chapel ' I Town Council -" (1) Appointed by Canboro Board of Aldermen (1) Appointed by the Hillsborou;;h Town Board (1) Appointed by The Universit~~ of North Carolina at Chapel Hill (1) Nominated and elected by f?~e OCHLT Boazd of Directors, representing a Iocal nonprofit organization that provides housing or other services for low- or moderate- income people. OCHLTInjormudon,for Bo¢rd ajDirectors members Stvlember 1, 1003