HomeMy WebLinkAboutORD-2007-074 - Capital Project OrdinanceAffordable Housing Program
Capital Project Ordinance
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Be it ordained by the Orange County Board of County Commissioners that pursuant to Section
13.2 of Chapter 159 of the General Statutes of North Carolina, the following
capital project is hereby adopted.
Section 1. The project authorized provides funds to fund housing activities in the following
categories: land acquisition, housing development, and homeownership.
Proceeds from the 1997 and 2001 voter approved bond referenda, Affordable
Housing Trust funds and Community Development Program Income finance the
project.
Section 2.
The officers of the County are hereby directed to proceed with the project within
the budget contained herein.
Section 3. The following revenue is anticipated to complete this project:
Through FY
2006 -07
FY 2007 -08
Through FY
2007 -08
Sales Tax
$0
$0
$0
1997 Bond Funds
$1,800,000
$0
$1,800,000
2001 Bond Funds
$2,600,000
$0
$2,600,000
Grant Funds
$0
$0
$0
Private Placement
$0
$0
$0
Fees
$0
$0
$0
Transfer from Community
Development (Program Income)
$126,432
$0
$126,432
Transfer from Community
Development (Housing Tnist Funds)
$173,568
$0
$173,568
Total Funding
$4,700,000,7
$0
$4,700,000
Section 4. The following amount is appropriated for this project:
Section 5. This ordinance supersedes previous Affordable Housing Capital Project
Ordinances for Orange County Government.
Section 6. This ordinance shall remain in effect until June 30, 2008.
Adopted this 26th day of June 2007.
Through FY
Through FY
2006 -07
FY 2007 -08
2007 -08
EmPOWERment
$90,000
$0
$90,000
Pine Hill Drive
Sykes Street Homeownership Program
$90,000
$0
$90,000
Pine Knolls Community land
$129,930
$0
$129,930
Total EmPOWERment
$309,930
$0
$309,930
Habitat for Humanity
$4607000
$0
$460,000
Richmond Hills
Rusch Road Homeownersbi Program
$280,000
$0
$280,000
Total Habitat for HumamtY
$740,000
$0
$740,000
Legion Road
$140,000
$0.
$140,000
Continuing Care Center
$275,000
$0
$275,000
Transitional Housing (Chapel Hill)
$75,000
$0
$75,000
Scattered Site Housing
$300,000
$0
$300,000
Sunrise Road Project
$300,000
$0
$300,000
OPC Foundation - Special Needs Rental
$260,000
$0
$260,000
Affordable Rentals - Special Needs Rental
$300,000
$0
$300,000
weaver Community Housing Association
$220,000
$0
$220,000
Land Banking
$480,070
$0
$480,070
2001 Unallocated Bond Funds
$1,300,000
$0
$1,300,000
Total Costsl
$4,700,000
$0
$4,700,000
Section 5. This ordinance supersedes previous Affordable Housing Capital Project
Ordinances for Orange County Government.
Section 6. This ordinance shall remain in effect until June 30, 2008.
Adopted this 26th day of June 2007.