Brunswick County Board of Commissioners ACTION AGENDA ITEM February 17, 2020

Action Item # V. - 8.

Request that the Board of Commissioners adopt a resolution approving a utility system development fee deferral agreement to support the tax credit application for Calabash Meadows Affordable Senior Community and to authorize County Manager to execute upon document approval by the County Attorney.

Holly Smith with llex Properties and the representative for Calabash Meadows Senior Community and Jim Fish, President of Brunswick Senior Resources, Inc. (BSRI) partnered to submit a fee deferral request in support of a tax credit application for the Calabash Meadows Senior Community. This request is identical to the fee deferral request approved for this project last year. Tax credits were not awarded for this project last year and will be re-submitted this year.

The proposed Calabash Meadows Affordable Senior Community is located off Calabash Road, identified as a portion of 2250008302 encompassing 4.25 acres. The proposed project is a housing development consisting of sixty (60) apartments (1- and 2-bedrooms).  Rents and income levels will be limited to seniors and disabled persons earning 60% or less of Brunswick County Median Income. Initials rents are projected in the range of $650 to $750. BSRI has partnered with llex Properties and will provide programs and services on-site, at little, or no, cost.

The following terms for the requested agreement:

- Agreement Amount:  $150,000 to pay the estimated Water and Sewer Impact Fees.

- Interest & Term:  2.0% over 15 years.

Enclosed is additional information, including water and sewer fees calculation worksheets, site plan, as well as an example of a fee deferral agreement for reference.