HomeMy WebLinkAboutRES-1998-025 Consolidated Housing Plan Annual Update/1998 HOME Program Design -- -9 050
3
RESOLUTION AUTHORIZING THE 1998-99 HOME PROGRAM DESIGN
BE IT RESOLVED, by the Orange County Board of Commissioners, that the
Commissioners as a member of the Orange County HOME Consortium approve the following
activities for the 1998-99 HOME Program.
New Construction
Funds would be allocated to Habitat for Humanity of Orange County, Inc., an approved
Community Housing Development Organization (CHDO) to assist in the construction of six (6)
new houses throughout Orange County. The funding amount includes $3,000 that will be used
for program administration expenses.
$63,000
Neighborbood Revitalization Homeownership Revolving Loan Fund -
Funds would be used to capitalize a Neighborhood Revitalization Loan Fund for the purchase,
rehabilitation, and/or new construction of housing in existing neighborhoods. Priority for funding
will be granted for activities in the Northside Community in Chapel Hill.
$210,000
Housing Rehabilitation
Funds would provide deferred loans to rehabilitate low income owner-occupied and rental
housing units. Homeowners with less than 60% of median income would be eligible for these
loans.
180,375
Program Administration
$40,300
TOTAL PROGRAM FUNDS $493,675
BE IT FURTHER RESOLVED, that the Manager is hereby designated as the
authorized representative of the County to act in connection with the submission of this revision
and to provide such additional information as may be required by the U.S. Department of Housing
and Urban Development.
This the 6th day of May 1998.