BC 2015 02 02 Work Session - Laserfiche WebLink

Home Browse Search

February 2, 2015 (Work Session) Page 2281 The staff anticipates refunding all or a portion of the 2007 Certificates of Participation (2007 COPS), the 2008A Certificates of Participation (2008A COPS), the 2008C Certificates of Participation (2008C COPS) and the 2009 Certificates of Participation (2009 COPS) (collectively herein the Prior COPS) as long as the market conditions are favorable. If market conditions are unfavorable, then all or a portion of the Prior COPS will not be refunded until the market conditions for all or such portion of the Prior COPS improve. The term of the Prior COPS will not be extended. An update on the savings will be provided to the Board following each sale of refunding limited obligation bonds. Commissioners Mynatt and Shue commended Finance Department staff for their fiscal responsibility and continued search for areas of savings. Planning and Development - Construction Standards Staffing Request Kelly Sifford, Planning and Development Director, presented a request for the addition of two full -time Code Enforcement staff to be funded immediately in order to meet the goal of next -day inspections. She advised revenues are exceeding projections for this year and the positions are proposed to be funded completely by Construction Standard's increased revenues. As justification for the requested staff, she stated in February 2013, 2,142 inspections were conducted. In January 2014, 4,424 inspections were conducted. She further stated the inspectors' work load is more than recommended by the state and the additional staff will help alleviate this issue. Scott Devaux, Chief Codes Enforcement Officer, was also in attendance. Planning and Development - HOME Program 2015 -2016 Funding Year Kelly Sifford, Planning and Development Director, presented the following information relating to the HOME Program 2015 -2016 funding year. Staff is proposing a project that will potentially work with Prosperity Unlimited, the City of Kannapolis, and Wesley Community Development Corporation to use 2015 -2016 HOME funds to assist in constructing a tax credit housing project for seniors. The proposed site is located on Little Texas Road. This site is conveniently located for affordable housing units for seniors age 55 and older. Available amenities include a municipal bus route that runs along Little Texas Road and the Lunch Plus Program for seniors which is located at the Living Water Church of God adjacent to the proposed site. Cabarrus County has traditionally provided single family housing rehabilitation services with HOME funds however, in recent years it has been difficult to qualify clients. There is still an excess of housing rehabilitation funds at this time. Additionally, this project responds directly to a need identified in the Aging Strategic Plan. Housing for seniors was identified by the Strategic Aging Committee's housing subcommittee as a high priority. This proposal will require match funds that will be proposed as part of the annual county budget. The match will be approximately $25,000.00. The use of HOME funds means fewer tax credit dollars are needed which will make this project more competitive. Commissioner Shue expressed support for the funding. Roy Helm, President, Wesley Community Development Corporation, stated the Boards' endorsement of HOME funds for this project would be a huge plus for their efforts to obtain funding. He added, the applications for tax credits to build these types of projects are very competitive. He also responded to questions from the Board. Commissioner Mynatt expressed support for the funding. Ms. Sifford requested the item be updated to authorize staff to issue a commitment letter for Wesley Community Development Corporation and Prosperity Unlimited, Inc.