HomeMy WebLinkAboutAgenda 09-07-1993 - III-I 1
ORANGE COUNTY
BOARD OF COMMISSIONERS
Action Agenda
Item No. _
ACTION AGENDA ITEM ABSTRACT
Meeting Date: September 7, 1993
SUBJECT: HOME Investment Partnerships Program
•
DEPARTMENT: Housing/Comm. Dev. PUBLIC HEARING YES: NO: x
ATTACHMENT(S) : INFORMATION CONTACT: Tara L. Fikes
Amendment to Funding Approval
w/Attachments TELEPHONE NUMBER-
Hillsborough - 732-8181
Chapel Hill - 968-4501
Mebane - 227-2031
Durham - 688-7331
PURPOSE: To approve execution of the Amendment to Funding Approval
for the Orange County HOME Investment Partnerships Program.
BACKGROUND: On June 7 , 1993, the Board of Commissioners approved an
amendment to the Orange County HOME Consortium Program to re-program
$300, 000 set-aside for the Orange Community Housing Corporation for the
Erwin Village project. The amendment was submitted to the N.C. Department
of Commerce-Division of Community Assistance for their consideration.
Since that time administration of the HOME Program has shifted to the N.C.
Housing Finance Agency, who recently approved our amendment request. In
order to proceed with program activities, the attached Amendment of
Funding Approval must be executed by the Chair of the Board.
Approval of these documents will enable the Consortium and Orange
Community Housing Corporation to proceed with the approved grant
activities.
RECOMMENDATION(S) :
The Manager recommends execution of the Amendment to Funding Approval
for the Orange County HOME Investment Partnerships Program and authorize
the Chair to sign these documents on behalf of the Board.
ADDENDUM TO ADMENDMENT TO FUNDING APPROVAL
REPLACEMENT PROJECTS : This Amendment approves the recipient's request to delete
Erwin Village as the new construction project activity under FY 1992 funding approval
and replaces that $300,000 funding allocation with the following proposed project activities.
1. Acquisition of 2 lots on Creel Street in Chapel Hill, NC to construct single family
homes for qualified homebuyers. Total HOME funds - $32,000.
2. Administer an existing Townhome Second Mortgage Program on a countywide basis for
5 qualified buyers of existing townhomes. Total HOME funds - $68,000.
3. Acquire land and construct new single family homes adjacent to the town limits of
Hillsborough, NC for first time homebuyers( 20 units). Total HOME funds - $200,000.
ADMINISTRATIVE CONDITIONS : This Amendment authorizes the recipient to spend up to
the amounts specified in the attached Project Budgets for administrative and service delivery
costs necessary for the implementation of its approved HOME projects. In executing this
Amendment, the recipient agrees to the following conditions:
1. Project performance goals established in the original application and any subsequent
amendments are not being altered by this Amendment except for the above referenced
replacement project activities.
2. The recipient will request all administrative and service delivery funds from the North
Carolina Housing Finance Agency. No funds drawn directly by the recipient through the
C/MI System will be used for administrative or service delivery charges.
3. The recipient will not draw from the C/MI System a total cumulative amount that
would cause the sum of administrative funds received from the State and project funds
drawn from the C/MI System to exceed the total funding award. The recipient
understands that receiving funds in excess of the total funding award will result in a
Performance Finding and that any such excess funds must be returned to the State.
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AM NDMENT TO ECxI D NG APPROVAL
1. NAME AND ADDRESS OF RECIPIENT 2. HFA RECIPIENT CMI # M92—SG-37-0111
County of Orange 0)ORIGINAL
P.O.Box 8181 (DATE)
Hillsborough,North Carolina 27278 (x)AMENDMENT 07-28-93
(DATE)
3. APPROVED PROJECTS
HFA PROJECT# PROJECT NAME APPROVED AMOUNT
1 Abbotts Colony Acquisition $50,000.00
2 Orange County Rehab.—SF Owner $270,000.00
3 Orange County Rehab.—SF Renter $183,600.00
4 Creel Street Acquisition $32,000.00
5 Townhouse Second Mortgages—Homebuyer $68,000.00
6 Hillsborough New Construction $200,000.00
TOTAL FUNDS APPROVED $803,600.00
4. FUNDING APPROVAL CONDITIONS
This Funding Approval Amendment incorporates by reference and modifies certain conditions imposed on the original Funding Agreement.An
ADDENDUM is attached to this Amendment which imposes certain new conditions to the Funding Agreement.
ENVIRONMENTAL CONDITION: No funds may be obligated or expended in any project except for the payment of reasonable costs related to
planning,administration,engineering,design and environmental assessments for the approved project(s)until the recipient has complied with the
Environmental Review Procedures for the North Carolina HOME Program.
5. SIGNATURE OF AUTHORIZED HFA OFFICIAL 6. SIGNATURE OF AUTHORIZED CHIEF ELECTED OFFICIAL
(FOR LOCAL GOVERNMENTS)OR CHIEF EXECUTIVE
OFFICER (FOR NON—PROFIT CORPORATIONS)
I r - 4014/114
CHAIR, ORANGE_ COUNTY
BOARD OF COMMISSIONERS /
A.Robert Kucab,Executive Director
North Carolina Housing Finance Agency Title
3D 19 '2D
Date 1 Date
PROJECT BUDGETS
County of Orange C/MI# M92-SG-37-0111
Project: Abbotts Colony
Activity HOME Funds
B1 Acquisition $ 46,500.00
Hi Administration $ 3,500.00
Total Project Amount $ 50,000.00
Project: Orange County Rehab.-SF Owner
Activity HOME Funds
Cl Rehab.-SF Owner $ 251,100.00
H1 Administration 18,900.00
Total Project Amount $ 270,000.00
Project: Orange County Rehab.-SF Renter
Activity HOME Funds
C2 Rehab.-SF Renter $ 170,748.00
H1 Administration $ 12,852.00
Total Project Amount $ 183,600.00
Project: Creel Street
Activity HOME Funds
B1 Acquisition $ 29,760.00
Hi Administration $ 2,240.00
Total Project Amount $ 32,000.00
Project: Townhome Second Mortgage Program
Activity HOME Funds
D3 Repay. Subordinated Mortgages $ 63,240.00
H1 Administration $ 4,760.00
Total Project Amount $ 68,000.00
Project: Hillsborough New Construction
Activity HOME Funds
B1 Acquisition $ 66,960.00
D4 New Construction $ 119,040.00
H1 Administration $ 14,000.00
Total Project Amount $ 200,000.00
TOTAL HOME FUNDING $ 803,600.00