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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 20, 2003 <br />Action Agenda <br />Item No. 9- Q <br />SUBJECT: Housing Bond Program <br />DEPARTMENT: Housing/Community Dev. PUBLIC HEARING: (Y/N) No <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Tara L. Fikes, ext 2490 <br />Proposal Summaries <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider awarding funding to the recommended affordable housing bond <br />projects and authorize the Manager to issue a Letter of Commitment to each funded agency <br />detailing the conditions of award. <br />BACKGROUND: Orange County voters approved the second Affordable Housing Bond issue <br />in November 2001 for affordable housing in the amount of $4 million dollars. Subsequently, the <br />Affordable Housing Advisory Board (ARAB) began review of the existing bond policy in <br />preparation of identifying projects to be financed from the 2001 bonds. AHAB's review has <br />yielded further recommendations for modifications and the revised bond policy was presented <br />to the Board of County Commissioners (BOCC) and approved on October 15, 2002. <br />On November 4, 2002, the County issued a Request for Proposals soliciting applications for the <br />first round of bond funding with total available funds of $1,040,000. Funding pools were <br />established in the following categories: Homeownership; Special Needs -Ownership or <br />Rentals; and Non-Special Needs Rental and Cooperative Housing. <br />Applications were due by the end of business on December 16, 2002, and five (5) applications <br />were received by the deadline date. The five (5) proposals requested a total of $1,267,000. A <br />summary of each application is provided with this abstract. Full copies of all applications are <br />available upon request from the Housing and Community Development Department. <br />The Project Review Committee met three (3) times to review applications and also invited each <br />applicant to meet with the Committee to discuss their applications. Members of the Project <br />Review and Selection (PRS) Committee included three Affordable Housing Advisory Board <br />members -Frances Douglas, Stephen Jenks and Tracey Dudley; and the following staff <br />persons -Assistant County Manager Gwen Harvey; Housing/Community Development Director <br />Tara L. Fikes; Planning Director Craig Benedict, Finance Director Ken Chavious, James Harris <br />of Carrboro; Loryn Barnes of the Town of Chapel Hill, Margaret Hauth of the Town of <br />