Item:
Title
Approval of the 500 E. Main St. Affordable Housing Development Documents
Body
Date of BOCC Meeting: January 13, 2025
Request for Board Action:
Agenda Text
The Board is requested to authorize the County Manager to execute any and all documents (including but not limited to those shown in the table of Attachment ‘A’ to this agenda item) for the 500 East Main Street Affordable Housing Project.
A summary description of each document item is provided in the attached “Description of Documents.” All documents will be finalized and approved to form prior to execution. These documents are included and/or are supplemental to the Master Declaration and Development Agreements for the project. Minor changes are being made to align with the U.S. Department of Housing and Urban Development (HUD) regulations and/or comments from the lending authorities participating in the project.
Alignment with Strategic Plan: This aligns with the Durham Strategic Plan Goal of Sustainable Infrastructure and Environment
Resource Persons: Peri Manns, ASLA, LEED GA, Deputy Director; Nathan McKinney, Senior Assistant County Attorney; Greg Smith, Senior Development Manager, Laurel Street Residential; Crystally Wright, Interim Chief Financial Officer; Jay Gibson, P.E. Director of E, E&S; Sherrod Banks, Principal, Banks Law Firm; Deirdre Denechaud, Partner, Parker Poe Attorneys and Counselors at Law.
County Manager’s Recommendation: The County Manager recommends that the Board authorize the County Manager to execute the documents and amendments required for the 500 E. Main St. Affordable Housing Development Project, upon legal review and approval by private counsel and the County Attorney’s Office.
Signature
County Manager: ____________________________