Agenda - 02-18-2002 - 2 - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: February 18,2002 Action Agenda Item No. 2 SUBJECT: Assessment of Proposed Carol Woods Payment in-Lieu of Taxes DEPARTMENT: County ManagerhASSessor PUBLIC HEARING: (YIN) No ATTACHMENT(S): INFORMATION CONTACT: 12103101 carol Woods Lefler Rod onsaeq ext 2300 02108102 Assessors Memo John Smith, ext 2101 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-0501 Durham Sell Mebane 336-22]-2031 PURPOSE: To receive a short report on the potential Impacts of the Carol Woods Retirement Community Center decision to file for property tax exemption for CY 2002. BACKGROUND: In a December 3, 2001 letter, Carol Woods Local firmer Patricia Stange wrote he Chair Barry Jacobs, Chapel Hill Mayor Kevin Foy, and DHCCE Superintendent Had Pedersen to announce Carol Woods' Intent to He for property tax exemption in 2002 for reasons outlined In her lever. She also Indicated that in view of the lost property tax revenue that Orange County, the Town of Chapel Hill, and the Chapel Hill Compete School system would a peq that Carol Woods Intends to make charitable gifts to the County,Town, and Schools to the benefit of Orange County citizens. In late January 2002, Carol Woods representatives indeed submitted b the Orange County Assessor applications that would exempt the property from ad valorem taxation. Thebasisof the request is fairly complex,and a sizeable amount of background materiel in support of the exemption application has been submitted and is under review by the County Assessor. Therefore, a final determination on the validity and extent of exemption that may be granted has notyetbaenmade. However,the attached memo ham the County Assessor reduce his preliminary evaluation of the matter and cites the approximate tax value and prospective Property,tax revenue losses to the County Town and CHCCS. Recent staff level discussions between the county and carol Woods Indicate that or the upcoming fiscal Year it is Carol Woods Intent to pay Orange County in donated funds the exact punt that would have been due in taxes on any property determinetl by me Assessor to qualify for exemption. Carol Woods has also indicated that for FY 2002-03 they do not intend to prescribe how any such donated funds should be spent by Orange County. Representatives of Carol Woods will be available at the work session to discuss this matter with the BOCC.