HomeMy WebLinkAboutAgenda - 10-05-1999 - 8iORANGE COUNTY
BOARD OF COMMISSIONERS
ACTION AGENDA ITEM ABSTRACT
Meeting Date: October 5, 1999
Action Agenda
Item No. _~_
SUBJECT: Impact Fee Reimbursement
DEPARTMENT: Housing/Comm. Development PUBLIC HEARING: (Y/N) No
ATTACHMENT(S): INFORMATION CONTACT:
Tara 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 newly
renovated owner-occupied housing.
BACKGROUND:
On November 1, 1995, the BOCC approved a policy for impact reimbursement to local non-profit
organizations meeting 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 asowner-occupied housing which can be purchased for no more
than 2.5 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 beneficiaries for a period of a minimum of
twenty (20) years or longer if required by HUD policy.
The County has received a reimbursement request for $3,000 from EmPOWERment, Incorporated for
105-B Fowler Street in Carrboro. EmPOWERment, Inc. purchased an existing dwelling at 105 Fowler
Street from Habitat for Humanity in February 1999. EmPOWERment, Inc. repaired the unit and created
two condominiums. Since a new dwelling unit was created, EmPOWERment, Inc. was required to pay
the impact fee for the newly created unit at 105-B Fowler Street. EmPOWERment, Inc paid the impact
fee in June 1999.
The request has been reviewed in accordance with the above stated eligibility criteria and determined
eligible for reimbursement.
Results of Eli ig bility Review
1. Household Income: $30,720 for a family of three (3)
(56% of HUD published median income)
2. Purchase Price: $64,720
3. Certification of 20 year Affordability:
A second mortgage of $17,500 was provided to this purchaser which requires that the property
remains affordable for 20 years or the mortgage is payable in full.
FINANCIAL IMPACT:
There is a line-item in the current year budget for impact fee reimbursements. The current balance is
$129,000. Since the 1993-94 Fiscal Year, the County has received~'7,598,680 in impact fees and have
reimbursed approximately $259,648 or 3% of that total.
RECOMMENDATION(S):
The Manager recommends approval of the impact fee reimbursement request from EmPOWERment,
Inc. for $3,000.