HomeMy WebLinkAboutAgenda - 03-18-2008-6aORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: March 18, 2008
Action Agenda
Item No. (p - q
SUBJECT: Housing Bond Program
DEPARTMENT: Housing/Community Dev. PUBLIC HEARING: (Y/N) No
ATTACHMENT(S):
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INFORMATION CONTACT:
Tara L. Fikes, 245-2490
PURPOSE: To consider awarding housing bond funds in the amount of $632,300 to
Gommunity Alternatives for Supportive Abodes (CASA) to purchase five (5) duplexes in Chapel
Hill and authorize the Manager in consultation with the County Attorney to enter into a
Development Agreement detailing the conditions of award.
BACKGROUND: An application for Housing Bond funds was received from Community
Alternatives for Supportive Abodes (CASA) requesting $675,000 for the purchase of five
duplexes on Pritchard Avenue Extension in Chapel Hill. The duplexes are referred to as the
Pritchard Avenue Apartments and the five duplexes containing 10 one-bedroom units. CASA
plans to renovate these duplexes and then lease them to low-income individuals who are
formerly homeless and/or have a disability. The properties will be managed by CASA through
its in-house property management division. A location map is attached to this abstract.
CASA is anon-profit housing developer incorporated in 1992 dedicated to serving the housing
needs of low wealth individuals, especially those with disabilities. The organization is based in
Raleigh and has developed and currently owns a total of 158 housing units throughout Wake
County. It has extensive experience in working with federal, state, and local funding sources.
The Pritchard Avenue Apartments will be the first project for CASA in Orange County.
As required by the Orange County Housing Bond Policy, the Project Review and Selection
(PRS) Committee held apre-application conference with staff from Habitat to discuss .the
proposed application, reviewed the submitted application, and then met with the organization to
discuss the committee's funding recommendation. Members of the Project Review and
Selection Committee include: County Staff Members: Willie Best, Paul Thames, Craig Benedict,
Perdita Holtz, arid Tara Fikes; Commissioners Valerie Foushee and Barry Jacobs; and
Affordable Housing Advisory Board Members Barbara Mull, Jabrina Robinson, and Gary Gaddy.
The Committee also includes representatives from the Towns of Carrboro, Chapel Hill, and
Hillsborough in the persons of James Harris, ~oryn Barnes, and Margaret Hauth respectively.
After review of the application as well as supplemental material submitted by CASA including a
reduction in the amount of the request after property appraisals were received, the Committee
recommended the allocation of up to $632,300 in housing bond funds for the acquisition of the
Pritchard Avenue Apartments in Chapel Hill with the following condition. Because all acquisition.
costs are being provided by housing bond funds, CASA will be required to provide the .County
with an annual accounting of project income and expenses and may be required to repay to the
County any excess program income beyond normal maintenance reserves.
FINANCIAL IMPACT: There is currently approximately $2.22 million available from the FY
2001 Affordable Housing Bond Program. This expenditure will leave a balance of $1.59 million
dollars.
RECOMMENDATION (S): The Manager recommends that the Board award affordable housing
bond funds in the amount of $632,300 to Community Alternatives for Supportive Abodes
(CASA) to purchase five (5) duplexes in Chapel Hill known as Pritchard Avenue Apartments for
future .renovation and lease to low income/disabled individuals and authorize the Manager in
consultation with the County Attorney to enter into a Development Agreement detailing the
conditions of award.
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his map caniains parcels prepared for the invontory of real property within Orange Gounly, and is compiled from rocorded deeds plats, and
othor public records and data. Users of ibis map aro horeby notiliod chat the atoromentioned public pnmary mionnalron sourcas should be
onsutted ror verification of the information confalnod on this map. Tile county and its mapping companion assume no logal responsibility for Iho
information contained on this ma .
This Pa e Printed Monda ,March 3, 2008 10:51 am
Parcels Current Thru 6/4/2007. Owner Information Current Thru 4/2912007
Parcel Identification Number: 9788198553
r Summary f Building (-' Land f Documents I`" Prior Owners C- Addresses
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