HomeMy WebLinkAboutAgenda - 06-29-2000-8tORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: June 29, 2000
Action Agenda
Item No. ~~
SUBJECT: Impact Fee Reimbursement--EmPOWERment, Inc.
DEPARTMENT: Hausing/Comm. Development PUBLIC HEARING: (Y/1~ No
ATTACHMENT(S): INFORMATION CONTACT:
Taza L. Fikes, ext 2490
TELEPHONE NUMBERS: -
Hillsborough 732-8181
Chapel Hill 968-4501
Durham 688-7331
Mebane 336-227-2031
PURPOSE: To approve the impact fee reimbursement request from EmPOWERment, Inc. for $3,000
for a new home constructed in Carrboro.
BACKGROUND: On November 1, 1995, the BOCC approved a policy for impact fee reimbursement
to local non-profit organizations meeting the established eligibility criteria. This policy was last revised
on Mazch 4, 1998 and incorporated into the Long-Term Housing Affordability Policy approved by the
Board in Apri12000.
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 to 3.0 times annual family income; and
3. The non-profit organization must certify in writing that, for owner-occupied housing, it will
remain affordable to the anticipated beneficiary or benef curies for a period of a minimum of
ninety-nine (99) yeazs or longer depending on the funding source. This requirement will be
secured by a Declazation of Restrictive Covenants.
4. The non-profit organization is responsible for providing documentation of impact fee payment.
The County has received a reimbursement request for $3,000 from EmPQWERment, Inc. for a new
home in Carrboro at 218 Broad Street. EmPOWERment has provided evidence that the impact fee far
the home has been paid and EmPQWERment intends to complete construction by the end of the month.
The request has been reviewed in accordance with the above stated eligibility criteria and determined
eligible far reimbursement.
Results of Eligibility Review
1. Household Income:
Applicant Family: Family of four Annual Income: $26,005
2
The family incarne is 41% of the area HUD published median income of $62,800 for a family
of four.
2. Purchase Price: $124,000 First Mortgage: $$4,891; Seeand Mortgage: $22,500;
Third Mortgage: $15,609;
Family Contribution: $1,000.
3. Certification of 99 year Affordability:
EmPOWERment agrees to comply with the County Lang-Term Housing Affordability Policy
to ensure that the housing remains affordable for families earning less than 80% of the area
median income for 99 yeazs. This requirement will be secured by a Declaration of Restrictive
Covenants.
4. Documentation of Impact Fee Payment Yes
FINANCIAL IMPACT: There is a line item in the current yeaz budget for impact fee reimbursements.
The current balance is $93,000.
RECOMMENDATION(S): The Manager recommends approval of the impact fee reimbursement
request from EmPOWERrnent, Inc. for $3,000 for a newly constructed home in Carrboro.