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Town of Chapel Hill Executive Summary |
Meeting Date: 01-26-2009 AGENDA #4g |
Title of Agenda Item: Response to Petition from Orange Community Housing and Land Trust Regarding the Town’s Affordable Housing Policy
Background: The attached memorandum from the Council Committee on Affordable Housing provides a response to a petition from Orange Community Housing and Land Trust regarding a proposed change to the Town’s Affordable Housing Policy
Fiscal Note: Could provide additional funds to the Affordable Housing Fund
Council Committee on Affordable Housing Recommendation: That the Council adopt the attached resolution to modify the Town’s Affordable Housing Policy to allow the Council to: (1) accept a payment-in-lieu of all or part of an affordable housing obligation; and (2) require all projects with an affordable housing component to have an Affordable Housing Plan incorporated into an Affordable Housing Performance Agreement to be signed by the applicant, the Town and the entity responsible for administration of affordable housing units.
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