HomeMy WebLinkAboutNA ORD-2002 Affordable Housing Program Capital Project Ordinance 26
Affordable Housing Program
Capital Project Ordinance
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. The project is financed by
proceeds from the 1997 voter approved bond referendum and from Housing Trust funds.
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 Through FY
2000-01 FY 2001-02 2001-02
Sales Tax $0 $0 $0
Bond Funds $690,000. $625,000 $1,315,000
Private Placement $0 $0 $0
Fees $0 $0 $0
Housing Trust Funds $0 $50,000 $50,000
Total Funding $690,000 $675,000 $1,365 000
Section 4. The following amount is appropriated for this project:
Through FY Through FY
2000-01 FY 2001-02 2001-02
Land
EmPOWERment $90,000 $0 $90,000
Habitat for Humanity $460,000 $0 $460,000
Total Land $550,000 $0 $550,000
Design $0 $0 $0
Construction $0 $0
Scarlett Drive $140,000 $0 $140,000
Meadowmont
Condominiums $0 $400,000 $400,000
Continuing Care Center $0 $275,000 $275,000
Total Construction $140,000 $675,000 $815,000
Other $0 $0 $0
Total Costs $690,000 $675,000 $1 65 000
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, 2002.
Adopted this 5"'day of February 2002.