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41 <br /> 1 Kimberly Sanchez said it is an impossible question due to great need on both sides, noting <br /> 2 renters who stabilize become homeowners and homeowners who stabilize move to private <br /> 3 market. <br /> 4 Delores Bailey said she disliked pitting rental against ownership and emphasized that for- <br /> 5 profit developers offering affordable rentals must maintain permanent affordability rather than <br /> 6 temporary commitments. She said some developments like Shelton Station haven't maintained <br /> 7 affordable commitments adequately. <br /> 8 Ansel Pritchard asked how long they commit to keep the units affordable. <br /> 9 Delores Bailey said it's not years. <br /> 10 Commissioner Bedford said she was surprised that some units are only kept affordable for <br /> 11 30 years. She asked if the non-profits had any statistics on inventory held by hedge funds and <br /> 12 investors to use the properties as rentals. <br /> 13 Delores Bailey said it is happening, but they don't have the statistics. <br /> 14 Commissioner Bedford informed participants about General Assembly committee <br /> 15 activities that could limit counties'taxation abilities, potentially reducing available housing funds. <br /> 16 She said it's time for nonprofits and housing advocates to engage with the General Assembly. <br /> 17 Delores Bailey asked if that reduces the amount of money available to housing non-profits. <br /> 18 Commissioner Bedford said it could, and it would force the counties to go to sales tax, <br /> 19 which is regressive. <br /> 20 Commissioner Carter said one potentially positive change being discussed would close <br /> 21 loopholes allowing developers to receive property tax exemptions for affordable housing without <br /> 22 adequate ongoing compliance monitoring. She asked about other counties' budget allocations <br /> 23 for affordable housing programs. <br /> 24 Kimberly Sanchez said Durham and Wake passed bonds to support housing. She said CHT <br /> 25 worked with Self-Help to shape the property tax bill. <br /> 26 Delores Bailey said Durham offers additional subsidies beyond bond funding through <br /> 27 home buyer programs that have helped people purchase homes, while Orange County <br /> 28 participants in similar programs haven't resulted in local home sales due to inventory and subsidy <br /> 29 limitations. <br /> 30 Blake Rosser said he would investigate what other municipalities are doing. He said it may <br /> 31 be possible for the Board to allocate portions of the $5 million every three years in bond and CIP <br /> 32 funding toward 30%AMI or below housing. <br /> 33 Delores Bailey mentioned housing choice voucher homeownership possibilities. <br /> 34 Blake Rosser said that it's a possibility, but the required income levels would disqualify <br /> 35 people from the program due to high housing costs. <br /> 36 Lynn Nilsson said transportation could be put along Old 86 and Hwy 86. She suggested <br /> 37 that could be changed in the land use plan. <br /> 38 Ansel Pritchard said that's what Habitat was considering as well. <br /> 39 Lynn Nilsson said another challenge is septic limitations in the rural areas when looking to <br /> 40 add ADUs, and alternative methods of providing septic would be helpful. <br /> 41 Chair Hamilton said they'd had separate discussion on water and sewer possibilities in <br /> 42 rural areas. <br /> 43 Lynn Nilsson added having the workforce so far away from employers makes it difficult for <br /> 44 employees to consistently show up for work when there are weather related issues. <br />