Agenda - 10-15-2002 - 9a - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Data: October 15, 2002 Action Agenda Item N IMm NO. C{-Q SUBJECT Approval of Proposed R ns to Housing Bond Policy DEPARTMENT: Housing/Community Dev. PUBLIC NEARING: (YIN) No� ATTACHMENT(S): INFORMATION CONTACT: Revised Housing Bond Policy Tara L. Hose,an 2490 Summary of Board and Public Comments TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 9884501 Durham 686-7331 Mebane 336-227-2031 PURPOSE: To approve proposed revisions to the Housing Bond Policy. BACKGROUND: The Affordable Housing Advisory Board (AHAB)has reviewed the existing bond policy in preparation for identifying projects to be financed farm the November 2001 Affordable Housing Bond in the amount of$4 million dollars. AHAB's recommendations for policy revisions were presented to the Board of County Commissioners (BOCC)at the September 9 work session. The revised Housing Bond Policy was also distributetl to local non- profit organizations and posted on the County's website In oiler to receive public feedback. Since the work session and in has separate meetings,AHAB and its Bond Policy subcommittee have reviewed comments farm the BOCC and local non-profit organizatons and prepared a final daft of proposed revisions to the Housing Bond Policy for BCCC review and approval. AHAB has also prepared a summary of Board and public comments as additional background Information. The major Items during the comment period were Land Banking: Integrated Projectsl and the Long Tenn Housing Affordability Policy. Following discussion of these items and based on the desire to proceed with round one of the Housing Bond Program, AHAB proposes the following actions: 1. Land Banking: AHAB will continue work to develop criteria fora Land Banking Program for the Board's consideration In the next 30-90 days. In the Interim, the Advisory Board suggests that County staff work with Habitat for Humanity to try to identify passible funding sources to address their immediate acquisition naeds/concerns. 2. Integrated Prolects: Regarding the feasibility of submitting mixed tenure proposals, AHAB has included an affirmative statement in the Bond Policy indicating that these proposals are encouraged and acceptable.