Item:
Title
Approve a Contract with Durham Community Land Trustees, Inc. for $1,500,000 to Support Land Trust Investments. American Rescue Plan Act funds support the contract expense.
Body
Date of BOCC Meeting: August 12, 2024
Request for Board Action:
Agenda Text
The Board is requested to authorize the County Manager to negotiate a $1,500,000 contract with Durham Community Land Trustees, Inc. to support community land trust investments for permanent affordable housing. ARPA funds will be used to support the contract expense. In March 2024, the Board authorized staff to move forward with a Request for Proposals (RFP) to identify a third-party provider with experience in affordable housing and community land trusts to assist the County in implementing a Land Trust Investment Program that would bolster Durham County's affordable housing efforts. The program would help Durham County respond to the negative economic impacts of the COVID-19 pandemic and support a solid and equitable recovery for the County by increasing the County's inventory of current and future affordable housing.
The RFP was issued on May 6, 2024. The county received two proposals in response to the RFP, with Durham Community Land Trustees, Inc. (DCLT) receiving the highest scores during the bid review process. As such, the organization was selected to serve as the vendor for the initiative. Under the contract, DCLT will utilize the funding to identify and purchase existing and undeveloped properties for conversion into permanent affordable housing within Durham's community land trust. DCLT will analyze market opportunities to identify properties that are suitable for inclusion in the community land trust, complete acquisition of the property, ensure that properties are long-lasting and able to provide housing for users of all abilities by completing any required construction or development activities on the properties and transitioning the properties into the community land trust to en...
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