Agenda - 12-13-1999 - 5 - Laserfiche WebLink

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ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: December 13, 1999 Action Agenda Item No. 5 SUBJECT: Housing Bond Program Awards DEPARTMENT: County Manager/Housing and PUBLIC HEARING: (Y/N) No Community Development ATTACHMENT(S): Letters of Commitment (under separate cover) INFORMATION CONTACT: Albert Kittrell, ext 2300 Tara Fikes, ext 2490 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 968-4501 Durham 688-7331 Mebane 336-227-2031 PURPOSE: To consider approving letters of commitment of bond funds for two affordable housing projects. BACKGROUND: At their meeting on December 7, 1999, the Board of Commissioners considered applications from various agencies for the use of a portion of the $1.8 million approved by voters in November 1997 for affordable housing projects. The Board deferred action on most of these applications, but indicated a desire to act now to support two time- sensitive projects. The first is a proposal from EmPOWERment to construct 4 condominiums in their Pine Hill Drive project in Carrboro. The second proposal from Habitat for Humanity involves the purchase of a 42-acre tract in the Efland-Cheeks area and construction on that tract of a subdivision with 44 single-family dwellings. County staff is preparing two letters for the Board's approval that would indicate the Board's commitment to provide bond funds for these two projects - $90,000 for the Pine Hill Drive project, and $460,000 for Habitat's project in Efland-Cheeks. The draft letters of commitment and relevant background material will be distributed prior to the December 13 work session, under separate cover. FINANCIAL IMPACT: The funds committed to these projects will come from the $1.8 million in approved affordable housing bonds. RECOMMENDATION(S): The Manager recommends that the Board approve the two letters of commitment and authorize the Chair to sign them.