HomeMy WebLinkAboutRES-2015-045 Resolution Authorizing the Orange County FY 2015-2016 Home Program Design PBF
Resolution 2015-045 �p/})
RESOLUTION AUTHORIZING
THE ORANGE COUNTY FY 2015-2016 HOME PROGRAM DESIGN
BE IT RESOLVED, by the Orange County Board of Commissioners as a member of the Orange
County HOME Consortium approves the following activities for the 2015—2016 HOME Program.
Homeownership Assistance
Funds would be allocated to Orange County Habitat for Humanity to provide deferred payment zero
interest second mortgages for eleven(11)homes throughout Orange County. Homes will be sold to
households earning between 30 percent and 65 percent of the area median income,which is the"initial
eligibility requirement'. Homes may be sold to households earning up to 80 percent of the area median
income when household income exceeds 65%of the area median income due to a wage increase during
the construction period and prior to closing on the property.
(Requested amount: $270,000) $100,455
New Construction
Funds would be allocated to the Downtown Housing Improvement Corporation, Inc. (DHIC)to support
the new construction of 80 apartment homes for households at less than 60%AMI on Legion Road in
Chapel Hill. Greenfield Place will have a mix of one,two and three bedroom units along with a
community building and other amenities.
(Requested amount: $300,000) $154,500
Acquisition
Funds would be allocated to EmPOWERment, Inc., for the acquisition of a single family property for
lease to households earning 80%or less AMI.
(Requested amount: $60,000) $30,000
Housing Rehabilitation
Funds would be allocated to EmPOWERment, Inc., for rehabilitation of a single family property for lease
to veteran households earning 80%or less AMI.
(Requested amount: $46,500) $46,500
Tenant Based Rental Assistance
Funds would be provided to Housing for New Hope to support homeless outreach and increase housing
support that assist the homeless of Orange County acquire permanent housing.
(Requested amount: $50,000) $50,000
Program Administration $31,183
TOTAL FY 2015-2016 HOME PROGRAM FUNDS $412,638
Resolution 2015-045
BE IT FURTHER RESOLVED, that the County Manager is hereby designated as the authorized
representative of the County to act in connection with the submission of this plan and to provide such
additional information as may be required by the U.S. Department of Housing and Urban Development
This the day of September 2015 C � ^
Gar f
Earl McKee,Chair
SEAL
17
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