Orange County NC Website
Browse       Search
APPROVED 9/16/2008 <br />Orange County Board of County Commissioners <br />WORK SESSION <br />June 5, 2008 <br />7:30 pm <br />Link Government Services Center, Hillsborough, NC <br />The Orange County Board of Commissioners met for a Work Session on Thursday, June <br />5, 2008 at 7:30 p.m. at the Link Government Services Center in Hillsborough, N.C. <br />COUNTY COMMISSIONERS PRESENT: Chair Barry Jacobs and Commissioners Moses <br />Carey, Jr., Valerie Foushee, Alice M. Gordon, and Mike Nelson <br />COUNTY COMMISSIONERS ABSENT: <br />COUNTY ATTORNEY PRESENT: Geof Gledhill <br />COUNTY STAFF PRESENT: County Manager Laura Blackmon, Assistant County <br />Managers Willie Best and Gwen Harvey, and Clerk to the Board Donna Baker (All other staff <br />members will be identified appropriately below) <br />NOTE: ALL DOCUMENTS REFERRED TO IN THESE MINUTES ARE IN THE <br />PERMANENT AGENDA FILE IN THE CLERK'S OFFICE <br />Chair Jacobs said that there is an addition to the agenda, which was leftover from June <br />3~d. The Board agreed to add this item concerning the Housing Board Program. <br />6-b. Housing Bond Program <br />The Board considered awarding housing bond funds in the amount of $1,000,000 to the <br />TBLF Eno Haven LLC to assist in the construction of Eno Haven, a 76-unit multi-family rental <br />complex in Hillsborough and authorizing the Manager in consultation with the County Attorney <br />to enter into a Development Agreement detailing the conditions of the award. <br />Housing and Community Development Director Tara Fikes introduced this item. This <br />property is 11 acres on US 70A, very close to the Central Orange Senior Center site. The <br />developer plans to apply to the State of North Carolina for low-income housing tax credits. Of <br />the 76 units, 44 will be one-bedroom units and 32 will be two-bedroom units. They will all be <br />affordable housing, serving families at 60% of median income and below. The project cost is <br />$8.9 million. She provided financial information at the request of Commissioner Nelson. This <br />application is from afor-profit organization and is the first application that the County has <br />received from afor-profit organization since the Board changed its policy last fall. This sponsor <br />has carried out approximately eight projects in the state, utilizing a variety of federal, state, and <br />local private funding sources. The Project Review and Selection committee has spent a <br />considerable amount of time reviewing this application and it is recommended that the Board <br />award the request of $1,000,000 for this project, contingent upon receiving tl~e low-income <br />housing tax credits. <br />Commissioner Nelson asked about the reputation of this firm. Tara Fikes said that she <br />is not aware of any problems. Most of the other projects done by this firm received housing tax <br />credits, and this is one of the most heavily regulated programs. This facility will be secured to <br />remain affordable for 99 years. The investment will be secure. This will be the first tax credit <br />project in the northern part of the County for elderly and disabled. <br />