Orange County NC Website
Browse       Search
33 <br /> 1 Slide #57 <br /> Housing Department - page 178 <br /> — Based on that cohort, county staff estimated what level of relief FY 26 LHA program would <br /> provide at different funding levels. However, staff can't estimate the number of applicants. <br /> The more applicants to the program,the less benefit each household receives. <br /> — Board could restrict program rules to 10 years of ownership, to ensure a larger benefit for a <br /> smaller base. Would have made 80 applicants in FY 25 ineligible. <br /> — Recommended funding levels would be able to absorb tax increases from FY 25 to FY 26 with <br /> some ability to absorb an increased cohort. Would not provide the same proportional benefit. <br /> AwardProvide both FY 25's <br /> Cover tax FY 26 Provide the same award and cover <br /> increases from Recommended proportional tax increase in taxes from <br /> Funding Program FY 25 to FY 26 Budget relief as FY 25 rY 25 to FY 26 <br /> $268,656" $249,529 $774,000 $328,213 $501,362 <br /> Average Size ofAward $458 $428 $467 $565 $863 <br /> Percent of County Tax <br /> Burden Alleviated 25% 19% 21% 25% 38% <br /> 'F{ousing Department ulilized internal funds to increase award above$250.D66 in budget <br /> ORANGE COUNTY <br /> 57 NORTH CAROLINA <br /> 2 <br /> 3 Commissioner Fowler asked if any folks have a lower percentage increase, would they <br /> 4 differentiate between the groups. <br /> 5 Kirk Vaughn said that if they receive the same proportional benefit, he still included them. <br /> 6 He said the proportion of the benefit stays the same. <br /> 7 Commissioner Fowler asked for that small group they would only get an additional break. <br /> 8 Kirk Vaughn said he was not including changes in how the program was awarded but <br /> 9 rather benchmarking. He said they would still have the same rules unless the Board changes <br /> 10 them. <br /> 11 Commissioner Fowler said for the last one, if they had an increase from 2025-26 they <br /> 12 would not just give 38%. <br /> 13 Kirk Vaughn said they would only give them to what the tax burden was in 2025. He said <br /> 14 that they are the minority and on average there are more people needing more money. <br /> 15 Vice-Chair Hamilton said she is concerned about the approach to the program and <br /> 16 changing the rules. She said people who would want to apply to the program need consistency. <br /> 17 Chair Bedford asked if she would want to change the eligibility to 10 years or keep it at 5 <br /> 18 years. <br /> 19 Vice-Chair Hamilton said she would keep it at 5 years. <br /> 20 Commissioner McKee said he would not want to change the eligibility. He said the <br /> 21 changes that this would create would eliminate people that still have a need. He said that some <br /> 22 benefit to a larger group is better. He asked if the funding recommended for the program would <br /> 23 cause a small increase in the 2.94%. <br /> 24 Kirk Vaughn said the value of the penny is $3.3 million. <br /> 25 Commissioner McKee stated that it would not make a difference on the tax bill, but it would <br /> 26 make a psychological difference. <br /> 27 Commissioner Greene said George Barrett of the Jackson Center said there is a rubric <br /> 28 which awards more points to people that have been in their homes longer and people who are <br /> 29 older. She said he seemed to think it would not make much difference to leave it at five. She said <br />