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f <br /> 1 <br /> 1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No] � <br /> Action Agenda Item Abstract <br /> Meeting Date: August 5, 1996 <br /> SUBJECT: Merritt Mill Square <br /> DEPARTMENT: Housing/Community Dev. Public Hearing YES NO_x_ <br /> Budget Amendment <br /> Needed YES NO x <br /> ATTACHMENT(S): INFORMATION CONTACT <br /> Tara L. Fikes, 2490 <br /> Project Summary <br /> TELEPHONE NUMBER <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> Purpose: To consider a request from Empowerment, Inc. a non-profit community development <br /> corporation for$30,000 to assist in the acquisition of Merritt Mill Square in Chapel Hill. <br /> Background: Empowerment, Inc., a non-profit community development corporation, is pursuing the <br /> acquisition of Merritt Mill Square (formerly known as the Mason Motel) in order to preserve the ten rental <br /> units presently offered in the community. For the past several years, Merritt Mill Square has offered <br /> affordable efficiency units for lower income individuals. <br /> The total cost of acquisition and renovation costs are estimated to be $305,000. After acquisition, <br /> Empowerment, Inc. intends to renovate the property and make the units available to single room <br /> occupancy units for low income Orange County residents. The corporation is working to assemble <br /> financing from a variety of sources including: The Town of Carrboro, Town of Chapel Hill, Orange <br /> County and BBBT. Specifically, they have received a $20,000 commitment from the Town of Chapel <br /> Hill contingent upon financial contributions from the Town of Carrboro and Orange County as well as an <br /> initial verbal commitment from BBBT. They plan to ask the Town of Carrboro for a $10,000 contribution <br /> on August 13. Also, the Orange Community Housing Corporation has indicated their willingness to <br /> relinquish $50,000 in 1996 HOME funds which had been allocated for site improvements at the Scarlett <br /> Drive. This reallocation of HOME funds will require the approval of all participating jurisdictions as well <br /> as the approval of the State HUD Office. <br /> Empowerment, Inc. was incorporated by Myles Preslar and Tremain Myles and they are working to <br /> assemble a Board of Directors committed to their mission of community building. The organization is in <br /> the process of receiving tax exempt status from the Internal Revenue Service. <br /> This request for funding was received in July, after the present year budget was adopted. Therefore, there <br /> are no funds budgeted for this purpose in the 1996-97 fiscal year. <br /> A Project Summary is attached for additional information. <br /> Recommendation:As the Board decides. <br />