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1 <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: December 10, 2002 <br />Action Age da <br />Item No. ~ ~ G- <br />SUBJECT• Funding Request -Habitat for Humanity of Orange County, NC, Inc. <br />DEPARTMENT: Housing/Comm. Development PUBLIC HEARING: (YIN) No <br />ATTACHMENT(S): <br />Letter from Susan Levy, Executive Director <br />Habitat for Humanity of Orange County, <br />INFORMATION CONTACT: <br />Tara L. Fikes, ext. 2490 <br />NC, Inc. TELEPHONE NUMBERS: <br />Site Map Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 336-227-2031 <br />PURPOSE: To consider approval of a funding request from Habitat for Humanity of Orange <br />County, NC, Inc. to assist in the purchase of a 16-acre tract on Sunrise Road in Chapel Hill. <br />BACKGROUND: Habitat for Humanity of Orange County, NC Inc. (HHOC) is requesting funds <br />for the purchase of a 16-acre tract of land for the future development of affordable housing. <br />HHOC plans to partner with area non-profit organizations such as Orange Community Housing <br />and Land Trust to construct affordable rental and homeownership units on this site. <br />Considering the current zoning classification, the land is suitable for the development of 64 <br />affordable homes and could be built on the site using a cluster design. The total purchase price <br />is $400,000. HHOC has executed an Offer to Purchase for this property for $400,000 with a <br />condition requiring that funding for the purchase must be committed by December 31, 2002 with <br />a proposed closing date of February 2003. <br />Habitat for Humanity has approximately $100,000 available for this purchase. On October 31, <br />2002, HHOC submitted a request for funding assistance to the Town of Chapel Hill and Orange <br />County for the remaining $300,000 necessary to complete the purchase. County and Town <br />staff have met with HHOC staff to clarify this funding request and to discuss possible future <br />development options. As a result, both entities agreed to attempt to find possible funding <br />sources to help HHOC meet the December commitment deadline. Additionally, the County <br />Affordable Housing Advisory Board has reviewed this request and that group endorses the <br />funding request. <br />At a regularly scheduled meeting on November 25, 2002, the Town of Chapel Hill approved the <br />appropriation of $50,000 from their Housing Trust Fund to assist with this acquisition, leaving a <br />$250,000 funding gap. County staff has examined possible funding sources and recommend <br />that the County appropriate $126,432 in available Community Development Program income <br />and the remaining $123,568 from the County Housing Loan Trust Fund for a total of $250,000. <br />