HomeMy WebLinkAboutAgenda - 03-18-2008-4gORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: March 18, 2008
Action Agenda
Item No. _ ~~__ c. J
SUBJECT: Impact Fee Reimbursement
DEPARTMENT: Housing/Comm. Development PUBLIC HEARING: (YIN) No
ATTACHMENT(S):
INFORMATION CONTACT:
Tara L. Fikes, (919) 245-2490
PURPOSE: To approve an impact fee reimbursement request from Orange Community
Housing and Land Trust of $4,407 for a recently built home in Chapel Hill.
BACKGROUND: On November 1, 1995, the BOCC approved a policy for impact fee
reimbursement to local non-profit organizations that met the established eligibility criteria. This
policy was last revised on March 4, 1998.
The policy requires the following:
1. Housing must be developed for first-time homebuyers with incomes at or below 80%
of HUD published median income for the Raleigh-Durham-Chapel Hill, NC MSA;
2. Affordable housing is defined as owner-occupied housing which can be purchased for
no more than 2.5 times annual family income;
3. The non-profit organization must certify in writing. that, for owner-occupied housing, it
will remain affordable to the anticipated beneficiary or beneficiaries for a period of a
minimum of ninety-nine (99) years. A Declaration of Restrictive Covenants will secure
this requirement; and
4. The non-profit organization is responsible for providing documentation of impact fee
payment.
The County has received a reimbursement request for $4,407 from Orange Community
Housing and Land Trust (OCHLT) for a home it recently built in Northside neighborhood in
Chapel Hill. OCHLT has provided evidence that the impact fee has been paid and the house
was purchased by aloes-income homebuyer.
The request has been reviewed in accordance with the above stated eligibility criteria and
determined eligible for reimbursement. ,
Results of Eligibility Review
1. Household Income:
Family #1: Family of three Annual Income: $34,154
All incomes are less than 80% of the area HUD published median income.
2. Purchase Price: $120,000
3. Certification of 99 year Affordability:
OCHLT certifies in writing that the home will remain affordable to families earning less
than 80% of the area median income for at least ninety-nine (99) years.
4. Documentation of Impact Fee Payment The County has a copy of the impact fee
payment provided 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 OCH~T and recorded in the Register of Deeds Office.
FINANCIAL IMPACT: The current balance from the FY 2007-2008 appropriation for impact
fee reimbursements is $9,477. Expenditure of $4,407 far this reimbursement will leave a
balance of $5,070.
RECOMMENDATION (S): The Manager recommends that the Board approve the impact fee
reimbursement request from Orange Community Housing and Land Trust for $4,407 for a
recently built home in Chapel Hill.