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DRAFT Meeting Summary 1~4a~1`@'; X395'_' JW>v~ 1, lei ~i ~ Participants: Elected Officials and Managers of : Carrboro, Chapel Hill, Hillsborough, and Orange County. Subject: Orange Community Housing Corporation (OCHC) This meeting was held as a follow-up to the recent request of the Orange Community Housing Corporation for additional administrative funding for this fiscal year. The following items were discussed: There is a need to reaffirm and/or clarify the organization's mission. A copy of the current Organization Mission is enclosed for reference. 2. An updated Organization Workplan should be submitted to each jurisdiction for review. A copy of the current workplan is attached as reference. 3. The group requested a copy of the Corporation's Bylaws. A copy of the current Bylaws is enclosed. 4. The group agreed that the Corporation should reevaluate its involvement in housing rehabilitation programs such as the current Urgent Repair Program being administered by the Corporation. There was general consensus that this effort should be a part of the County's Housing Rehabilitation Program. 5. Consensus Agreement with the Review of OCHC Financial Systems prepared by Ken Chavious, Orange County Finance Director. The recommendations in this report are as follows: a. The budgetary and accounting formats should be changed to account for project revenues and expenditures separate and apart from operations. b. Funding for predevelopment, architects, and engineers should be budgeted within a project budget with funding sources identified. c. Potential projects should be presented to the governing bodies for review. Information provided for review should include proposed project budgets and an identification of any additional funds required. Representatives from each governing body and OCHC could structure this review process to ensure all concerns are addressed. Further, during this review process, a determination will be made regarding the appropriateness of securities or performance bonds which will be determined based on the nature and scope of the proposed project. d. Quarterly reports, to include financial status and project updates should be provided to the County and the Towns. 6. There was consensus that Ken Chavious, Orange County Finance Director and Pam Jones, Orange County Purchasing and Central Services Director would provide lead staff support as necessary to OCHC along with other jurisdiction's staff members who may be called upon as needed.