HomeMy WebLinkAboutAgenda - 04-07-2009 - 4iCIRANGE COUNTY
BOARD a~ CGMMiSS~UNERS
ACTIGN AGENDA ITEM ABSTRACT
Meeting Date: April?', 2409
Action Agenda
r
item No.
SUBJECT Im act Fee Reimbursement Chan e Communit Housin and Land Trust
DEPARTMENT: HousinglComm. Development PUBLiC ~iEARiNG: ~YIN~ No
ATTACHMENT(S):
INFGRMAT4N CONTACT:
Tara L. Pikes, ~9~ 9~ 245-2494
PURPC3SE: To approve an impact fee reimbursement request from Change Community
Housing and Land Trust in the amount of $4,44?' for a recently built home in Carrboro.
BACCGRQUND~ CJn November 1, X995, fihe B4CC approved a policy for impact fee
reimbursement fio local non~profifi organizafiions fihafi met the established eligibility crifieria. This
policy was lasfi revised on March 4, ~ 995.
The policy requires fihe following.
~. Housing must be developed for first-time homebuyers wifih incomes afi or below 84°/0
of the HUD ublished median income for fihe Durham MSA and must be developed by
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a nonprofit housing organization;
2. The non-profit organization must cerfiify in wrifiing, for owner~occupied housing, it will
remain affordable fio fihe anfiicipated beneficiary or beneficiaries for a per`~vd of a
minimum of ninety-nine X99}years. A Declaration of Restrictive Covenanfis will secure
fihis requirement; and
3. The nonprofit organizafiion must provide documentation of impact fee payment.
The County has received a reimbursement request for $4,447 from C)range Caommunity
Housing and Land Trust ~C]CHLT} for a home ifi recently built in Carrboro. C'JCHLT has
provided ,evidence the impact fee has been paid and fihe house was purchased by a low
income first~time homebuyer.
The requesfi has been reviewed in accordance with fihe above sfiated eligibility crifieria and
determined eligible far reimbursement.
2
Results of Eli ibilit Review
~. Household income:
Family #1: Family of three Annual Income: $50,39
A[[ incomes are less than S9°/~ of the area HUU published median income.
2. Purchase Prlce: $125,QDQ
3. Gertificatlon of 99 year Affordability:
grange Community Housing and Land Trust, Inc. certifies in writing this house will
remain affordable to families earning less than 80°/~ of the area median income for at
least ninety-nine X99}years.
~~ Documentation of impact Fee Payment The County has a copy of the impact fee
payment at the time of issuance of the Certificate of Occupancy. Actual
reimbursement will take place at the time that the Impact Fee Agreement is executed
by aCHLT and recorded in the Register of Deeds Dffice.
FINANCIAL IMPACT: The current balance from the FY ~OQB-~oo9 appropriation for impact
fee reimbursements is $54,49x. Expenditure of $4,4x1 for this reimbursement will leave a
balance of $49,593.
~~CQMM~NDATI~N ~5~: The Manager recommends the Board approve the impact fee
reimbursement request from Orange Community Housing and hand Trust for $4,447 for a
recently built home in Carrboro.