HomeMy WebLinkAboutRES-2019-020 Resolution authorizing the acquisition of Property at 509 Central Avenue, Hillsborough RES - 2019 -020
RESOLUTION
Authorizing the Acquisition of Property at 509 Central Avenue , Hillsborough , NC
For
Affordable Housing Purposes
BE IT RESOLVED , the Orange County Board of Commissioners approves the exercise of the
County ' s First Right of Refusal and the acquisition of property at 509 Central Avenue ,
Hillsborough , NC at a purchase price to be negotiated but not to exceed $ 171 , 000 plus the
associated closing costs , including the cost of any ad valorem taxes due on the property following
closing for the year, in order to maintain the said property for affordable housing purposes . The
purchase price and associated closing costs will be paid from the County ' s Affordable Housing
Land Banking Fund ; and
BE IT RESOLVED , that the Orange County Board of Commissioners also authorizes the
County Manager, after consultation with the County Attorney and/or the Closing Attorney
retained by the County , to execute the necessary sale documents with the seller, Ms . Shannon
Brown ; and
BE IT FURTHER RESOLVED , that the Board of County Commissioners authorizes the
County Manager , after consultation with the County Attorney and/ or the Closing
Attorney retained , to execute the documentation necessary to transfer the property at
509 Central Avenue , Hillsborough , NC to EmPOWERment , Inc . , after acquisition and
the rehabilitation of the unit has been completed .
This day of , 2019
Pe Ric , C i ,
�,�.0.nsQ * Ora e County and of Commissioners
Not
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