Agenda - 06-02-2004-9a - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: June 2, 2004 SUBJECT: Housing Bond Policy Revisions DEPARTMENT: Housing/Community Dev, Action Agenda Item No. ~~Q PUBLIC HEARING: (Y!N) No ATTACHMENT(S): Affordable Housing Bond Policy INFORMATION CONTACT: Tara L. Fikes, ext 2490 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 336-227-2031 PURPOSE: To consider approval of a revised Affordable Housing Bond Policy, BACKGROUND: The current Affordable Housing Bond Policy was approved by the BOCC in October 2002. After the FY 2001 Housing Bond awards of June 2003, the Affordable Housing Advisory Board (AHAB) began reviewing the current Affordable Housing Bond Policy and developed revisions to address/incorporate Commissioner comments during the last bond funding round as well as comments received during BOCC work sessions regarding the proposed criteria for a Land Banking Program, After considerable review and discussion, ARAB is presenting the attached blacklined version of the proposed Affordable Housing Bond Policy revisions for your consideration, It should be noted that during the development of the revisions, there was considerable discussion among the ARAB board members regarding the inclusion of up to two BOCC members to the Project Review and Selection Committee (page 4), ARAB wishes to highlight this discussion should the BOCC choose to further discuss this revision as well. The proposed Policy has also been submitted to the County Attorney for review and comment as requested by a member of the BOCG. FINANCIAL IMPACT: The approved Housing Bond Policy will facilitate the implementation of the Land Banking Program with approximately $260,000 in FY 2001 Housing Bond funds currently available for this purpose, RECOMMENDATION(S): The Manager recommends that the Board consider approval of the revised Affordable Housing Bond Policy.