HomeMy WebLinkAbout2024-261-E-Housing Dept-Community Housing Partners-Affordable Housing CIP Funds4892-4116-9314, v. 6
NORTH CAROLINA
CAPITAL INVESTMENT PLAN
DEVELOPMENT AGREEMENT
ORANGE COUNTY
This is an AGREEMENT (the “Agreement”) between Orange County, a general local
governmental unit of the State of North Carolina, (hereinafter referred to as the “County”) and
Community Housing Partners Corporation, a North Carolina Non-Profit Corporation (hereinafter
referred to as “Community Housing Partners”). The effective date of this Agreement is April 15,
2024.
WITNESSETH
WHEREAS, 751 Trinity Court, Chapel Hill, North Carolina is currently owned by the
Town of Chapel Hill, North Carolina, which has selected the Community Housing Partners
Corporation, to develop the property for affordable rental units serving households earning from
below 30% of the HUD area median income to up to 80% of the HUD area median income; and
WHEREAS, the County, in the implementation of the 2023-24 Capital Investment Plan
solicited applications from interested eligible organizations; and
WHEREAS, Community Housing Partners, as the developer of the project, submitted an
application for County funding to assist with demolition, predevelopment, and infrastructure and
site improvement costs, as described herein, at 751 Trinity Court, Chapel Hill, North Carolina,
which will include approximately 54 affordable housing units for lease to households earning less
than 30% to up to 80% of the HUD area median income, as described in its application submitted
for Orange County Affordable Housing Bond Program funds, dated September 27, 2023, which
application is incorporated by reference into this Agreement and is on file in the office of the
Orange County Department of Housing and Community Development; and
WHEREAS, the Orange County Board of Commissioners on January 16, 2024, approved
the award to Community Housing Partners of Nine Hundred and Fifty Thousand ($ 950,000.00)
in FY 2023-24 Capital Investment Plan funding (hereinafter, “Project funds”) to support the
development of 751 Trinity Court; and
WHEREAS, Community Housing Partners intends to loan the Project funds to Trinity
Court Redevelopment, LLC (“Owner”) to assist with demolition, predevelopment costs, and
infrastructure and site improvement costs at 751 Trinity Court (hereinafter, “the Project”), a
development in Chapel Hill with a planned 54 affordable units and 20 three bedroom, 20 two-
bedroom, 14 on-bedroom unit. The 54 affordable homes which will be leased to households
earning between less than thirty percent (30%) and up to eighty percent (80%) of the HUD area
median income. The Project is located on property more particularly described in Exhibit A
(hereinafter, the “Property”), attached hereto and made a part of this Agreement. All Exhibits
attached to this Agreement are hereby made a part of this Agreement and are incorporated into this
Agreement, as it now reads or as it may be modified by the parties; and
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WHEREAS, as of the effective date of this Agreement, the Property is owned by the Town
of Chapel Hill, North Carolina (hereinafter, the “Town”). The Town selected the Community
Housing Partners as the developer for the Property as part of a competitive RFQ process. The
Town will enter into a ground lease with Owner; and
WHEREAS, notwithstanding any provision of this Agreement, the County and
Community Housing Partners hereby agree and acknowledge that this Agreement is conditioned
on satisfactory completion of an applicable environmental review. The parties further agree that
the provision of such funds to the project is conditioned on the County’s determination to proceed
with, modify, or cancel the project based on the results of such environmental review. The County
acknowledges and agrees that the completion by HUD of its Part 50 environmental review satisfies
the County’s requirements.
NOW, THEREFORE, in consideration of the mutual covenants, promises, and
representations contained herein, it is agreed between the parties hereto as follows:
I. USE OF PROJECCT FUNDS
A. Community Housing Partners shall cause Owner to perform the projects or tasks related
to its allocation of Project funds as provided in Exhibit B, Scope of Services, and
within the proposed budget outlined in Exhibit C (in addition to funds provided by
other parties).
B. Community Housing Partners may not request disbursement of Project funds under this
Agreement until the funds are needed for payment of eligible costs. The amount of each
request must be limited to eligible costs as determined by County staff.
C. Said Project funds shall be disbursed by the County to Community Housing Partners
for performance of the services described in Exhibit B by check made payable to
Community Housing Partners.
D. Project funds will be a fixed subsidy provided in the form of a grant.
II. AMOUNT OF PROJECT FUNDS/LOAN TERMS
A. The County shall make available to Community Housing Partners up to Nine Hundred
and Fifty Thousand ($ 950,000.00) pursuant to this Agreement.
B. Said funds to be disbursed by the County to Community Housing Partners to be loaned
to Owner for the performance of the services described in Exhibit B.
III. LIEN POSITION
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N/A
IV. TIMELINESS
Community Housing Partners shall cause the Owner to complete the Project by May 1, 2026.
However, in the event of any alterations or addition or circumstances beyond the control of
Community Housing Partners and Owner, which in the reasonable opinion of the Director of
the County’s Department of Housing and Community Development Department will require
additional time for completion of the Project, then in that case, the time of completion shall be
extended by the County Manager in writing for a period of time not to exceed six (6) months.
Any further extension will require the approval of the Orange County Board of County
Commissioners.
V. DURATION OF THE AGREEMENT
This Agreement will remain in effect for the Period of Affordability as provided in Section VI,
Affordability Requirements, the term of which is ninety-nine (99) years from proper recording
of the Orange County Declaration of Restrictive Covenants in the Orange County Registry.
VI. AFFORDABILITY REQUIREMENTS
A. Community Housing Partners agrees that, upon completion of vertical construction of
the affordable housing units on the Property (hereinafter, “the Project dwelling units”),
the Project dwelling units located on the Property shall be leased to households whose
income is between less than 30% and no more than 80% of the HUD area median
income by family size, throughout the 99 year Period of Affordability. The Area
Median Income by family size is determined by the U.S. Department of Housing and
Urban Development and amended from time to time. Residential leases shall not
exceed one year in term.
B. Community Housing Partners shall assure compliance with affordability of each of the
Project dwelling units on the Property by causing the Owner to record on the Property
a "Declaration of Restrictive Covenants," the form of which is attached hereto as
Exhibit D (hereinafter, “the Declaration”) on the Property. This Declaration shall
constitute and remain a first lien on the Property during the Period of Affordability,
subject to that RAD Use Agreement, that Declaration of Land Use Restrictive
Covenants for Low-Income Housing Tax Credits and other encumbrances approved by
the County. The Period of Affordability starts from the date of record ing of the
Declaration and continues for a period of ninety-nine years thereafter. The Declaration
shall constitute and remain a lien on the Project dwelling units during the Period of
Affordability.
C. Community Housing Partners agrees to the affordability requirements as provided
herein.
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D. Community Housing Partners will cause the Owner to rerecord the Declaration of
Restrictive Covenants periodically and no less often than one day less than every 30
years from the date hereof for the purpose of renewing the rights of first refusal in the
Property or portion thereof including any leasehold interest in the Property or portion
thereof. Orange County retains the right to periodically and every 30 years after the
first recording of the Declarations of Restrictive Covenants to register, with the
Register of Deeds of Orange County, a notice of preservation of the restrictive
covenants on the Property as provided in North Carolina General Statute § 47B-4 or
any comparable preservation law in effect at the time of the recording of the notice of
preservation. It is the intent of this Section of this Agreement that the 99-year duration
of this Declaration of Restrictive Covenants be accomplished and that any future
owner(s) of the Property and Orange County will do what is necessary to ensure the
same is not extinguished by N.C. Gen. Stat. § 41-29 or any comparable law purporting
to extinguish, by the passage of time, preemptive rights in the Property and by the Real
Property Marketable Title Act or any comparable law purporting to extinguish, by the
passage of time, non-possessory interests in real property. Community Housing
Partners and the County agree to do what each must do to accomplish the 99 -year
duration of the Declarations of Restrictive Covenants.
VII. OWNER PERFORMANCE UNDER THIS AGREEMENT
A. Community Housing Partners agrees to cause the Owner to use the Project funds for
demolition, predevelopment, and infrastructure and site improvement costs on the Property
described in Exhibit A to facilitate the future construction and development of 54
affordable housing units for lease to households earning between less than 30% and no
more than 80% of the HUD area median income by family size, as determined by the U.S.
Department of Housing and Urban Development and amended from time to time.
Notwithstanding any other provision of this Agreement, in the event that Owner is unable
to complete its obligations under this Agreement, Community Housing Partners may be
required to exercise remedies against the Owner pursuant to the loan documents to repay
the full amount of Project funds expended by the County pursuant to this Agreement,
provided that such repayment obligation may be subject and subordinate to the rights of
senior lenders.
B. Community Housing Partner agrees to cause Owner to authorize the County to conduct on-
site reviews, examine client and contractor records, client applications and to conduct any
other procedures or practices to assure compliance with these provisions.
C. Community Housing Partners agrees to not violate any State or Federal laws, rules or
regulations regarding a direct or indirect illegal interest on the part of any employee or
elected official of Community Housing Partners in the Project or payments made pursuant
to this Agreement.
D. Community Housing Partners agrees that to the best of its knowledge, neither the Project
nor the funds provided therefore, and the personnel employed in the administration of the
program shall be in any way or to any extent engaged in the conduct of political activities
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in contravention of Chapter 15 of Title 5, United States Code, referred to as the Hatch Act,
as applicable.
E. Community Housing Partners shall comply with applicable audit requirements contained
in 2 CFR, Subpart F which requires Owner to have an annual audit conducted within nine
(9) months of the end of their fiscal year, if Owner has an aggregate expenditure of more
than $750,000 in federal funds in a fiscal year. Owner shall submit to the County copy of
said audit report. Owner shall permit the authorized representatives of the County, HUD
and the Comptroller General of the United States to inspect and audit all data and reports
of Owner relating to its performance under the Agreement. Any deficiencies noted in audit
reports must be fully cleared by Owner within thirty (30) days after receipt of same.
F. County shall provide, upon request, copies of all laws, regulations and orders cited in this
Agreement.
G. Owner certifies by executing this Agreement that Community Housing Partners has not
been identified and has not utilized the services of any agent or subcontractor identified,
on the list created by the State Treasurer pursuant to G.S. 147-86.58.
H. Community Housing Partners hereby assures and certifies that it will cause Owner to
comply with the regulations, policies, guidelines and requirements with respect to the
acceptance and use 2023-24 Capital Investment Plan in accordance with the policies of the
County. Also, Community Housing Partners certifies with respect to the Project that the
Project will be conducted and administered in compliance with:
1. Title VIII of the Civil Rights Act of 1968 (Pub. L. 90-208, 42 U.S.C. Sec 2000d at
seq.), as amended; and that the Owner will administer all programs and activities
related to housing and community development in a manner to affirmatively further
fair housing;
2. Section 504 of the Rehabilitation Act of 1973 (Pub. L. 93-112), as amended, and
implementing regulations when published in effect;
3. The Age Discrimination Act of 1975 (Pub. L. 94135), as amended, and implementing
regulations when published for effect;
4. The Fair Housing Act (42 U.S.C. 3601-20);
5. Lead Based Requirements at 24 CFR Part 35
VIII. ADMINISTRATION AND REPORTING REQUIREMENTS
A. Community Housing Partners shall cause Owner to submit to the County a quarterly
progress report (the “Progress Report”) no later than the fifth day of the months of January,
April; July; October until the activity has been reported completed.
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IX. MISCELLANEOUS PROVISIONS
A. Termination of Agreement. The full benefit of the Project will be realized only after
the completion of the affordability periods for all Project dwelling units on the
Property. It is the County's intention that the full public benefit of the Project shall be
completed under the auspices of the Owner as follows:
1. In the event that the Owner is unable to proceed with any aspect of construction of
the Project in a timely manner, and County and the Owner determine that
reasonable extension(s) for construction completion will not remedy the situation,
then the Owner will retain responsibility for requirements for the Property and
County will make no further payments to the Owner.
B. Default, Remedies. This Agreement may be terminated by a non-defaulting party
upon an event of default hereunder, after written notice thereof and thirty (30) days
grace period in which the defaulting party may act to cure. As used herein, the term
"an event of default" shall mean and refer to a failure or act of omission by either party
with respect to any undertaking, obligation, covenant or condition as set forth in this
Agreement. With respect to any event of default, the non-defaulting party may exercise
any right available to it at law or in equity with respect to such default. Notwithstanding
the foregoing, the County shall have no right or remedy without giving Owner and its
members 90 days written notice and an opportunity to cure, or such longer period so
long as such cure is commenced during the 90 day period and diligently pursued to
completion. Any cure offered by a member of the Owner shall be accepted or rejected
as if tendered by Owner.
C. Books and Records. Community Housing Partners shall cause the Owner shall
maintain records of its grant requirements under this contract for a period of not less
than the completion of the affordability periods for all Project dwelling units.
a. The Owner shall ensure the County access to records and financial statements, as
necessary, to provide effective monitoring and evaluation of project performance.
Additionally, the Owner shall submit a copy of its annual audit to the County.
b. Upon reasonable advance notice, County or its authorized representatives may from
time to time inspect, audit, and make copies of any of Owner records that relate to
this contract. If any audit by County discloses that payments to Owner were in
excess of the amount to which Owner was entitled under this contract, Owner shall
promptly pay to County the amount of such excess. If the excess is greater than 1%
of the contract amount, Owner shall also reimburse County its reasonable costs
incurred in performing the audit.
c. Owner shall maintain files of all tenants, regardless of length of occupancy, residing
in assisted units. Documentation shall verify eligibility for locally assisted housing
at the point of initial tenancy and every subsequent year thereafter for the period of
affordability. Information maintained shall include information maintained shall
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include: tenant income level; name of family members; ethnic data; family type –
e.g. female head of household; disability status; and monthly rent or mortgage
payment(s).
d. Owner shall maintain records verifying the affordability of the Project dwelling
units.
D. Notices. Any notice shall be in writing and shall be given by depositing the same in
the United States mail, post-paid and registered or certified, and addressed to the party
to be notified, with return-receipt requested, or by delivering the same in person to an
officer or principal of such party. Notice deposited in the mail in the manner here in
above described shall be effective upon mailing. For purposes of Notice, the addresses
of the parties shall, unless changed as hereinafter provided, be as follows:
a. To the County: Orange County
c/o Housing, Human Rights and Community Development
Department
P.O. Box 8181
Hillsborough, NC 27278
ATTN: Director
b. To the Owner: Community Housing Partners Corporation
448 Depot Street NE
Christiansburg, VA 24073
ATTN: President
With copies to: TCC Trinity Court, LLC
c/o Truist Community Capital, LC
303 Peachtree Street, N.E., Suite 2200
Mail Code GA-ATL-0243
Atlanta, GA 30308
And to: Holland & Knight LLP
10 St. James Avenue, 11th Floor
Boston, MA 02116
Attn: Jarrod C. Connors, Esq.
Either the County or the Owner may change the person or address to which any future
Notice shall be given as herein provided.
E. No Assignment. Except as permitted pursuant to the Declaration, no transfer or
assignment of the interest of the Owner in this Agreement shall occur without the prior
written consent of the County; neither may the Owner assign this Agreement without
the prior written consent of County.
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F. Conflict of Interest. Community Housing Partners shall be aware of and observe the
requirements of the Orange County 2023-24 Capital Investment Plan Program Funds
which provides that no member of the Orange County Board of Commissioners shall
be admitted to any share or part of this Agreement or to any benefit to arise from the
same. The Owner shall also be aware of and observe the requirements which states that
no member, officer, or employee of Orange County or its designees or agents, no
member of the governing body of the locality who exercised any functions or
responsibilities with respect to the program during his/her tenure or for one year
thereafter, shall have any private interest, direct or indirect, in this contract or any
subcontract, or the proceeds thereof, for work to be performed in connection with the
program assisted under the agreement.
G. Binding Effect. This Agreement shall be binding upon and shall inure to the benefit
of the parties hereto and their respective successors and assigns.
H. Indemnification. To the extent legally possible, Community Housing Partners shall
cause the Owner to indemnify and hold County, its officers, agents, and employees,
harmless from and against any and all claims, actions, liabilities, costs, including
attorney fees and other costs of defense, arising out of or in any way related to any act
or failure to act by the Owner, its employees, agents, officers, and contractors in
connection with this contract. In the event any such action or claim is brought against
County, the Owner shall, upon County's tender, defend the same at the Owner’s sole
cost and expense, promptly satisfy any judgment adverse to County or to County and
the Owner jointly, and reimburse County for any loss, cost, damage, or expense,
including attorney fees suffered or incurred by County.
I. Subcontracting. Community Housing Partners shall cause the Owner to require any
approved subcontractor to agree, as to the portion subcontracted, to comply with all
applicable federal, state, and local laws, rules, ordinances, and regulations at all times
and in the performance of the work and to comply with all applicable obligations of the
Owner specified in this contract. The Owner shall remain obligated for full
performance of subcontracts and County shall incur no obligation to any subcontractor,
and the Owner shall indemnify, defend, and hold County harmless from all claims of
its contractors.
J. No Joint Venture or Agency. The County and Community Housing Partners each
agree and acknowledge that nothing contained herein or otherwise, including, without
limitation, any act of the County or the Owner under this Agreement, shall be deemed
or construed to create any relationship of joint venture, partnership or agency between
the parties.
K. Effect of Waiver or Forbearance. No failure by the County to insist upon the strict
performance of any term or condition of this Agreement, or to exercise any right or
remedy upon the breach by the Owner of any of its obligations, agreements, or
covenants hereunder, shall be a waiver of such affected term or condition or of such
breach; nor shall any forbearance by the County to seek a remedy for any breach by the
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Owner be a waiver by the County of its rights and remedies with respect to that or any
other breach.
L. Governing Law. This Agreement shall be construed in accordance with and governed
by the laws of the State of North Carolina. Any litigation arising out of this Agreement
shall be brought in courts sitting in North Carolina, with venue in Orange County.
M. Severability. The provisions of this Agreement are independent of and separable from
each other, and no provision shall be affected or rendered invalid or unenforceable by
the fact that for any reason any other provision may be invalid or unenforceable in
whole or in part. If any provision of this Agreement or the application thereof to any
person or circumstances shall, to any extent, be or become invalid or unenforceable,
the remainder of this Agreement, or the application of such provision to persons or
circumstances other than those as to which it is held invalid or unenforceable, shall not
be affected thereby, and each provision of this Agreement shall be valid and be
enforced to the fullest extent permitted by law. The County and Community Housing
Partners agree to substitute for such provision of this Agreement or the application
thereof determined to be invalid or unenforceable, such other provision as most closely
approximates, in a lawful manner, such invalid, illegal or unenforceable provision. If
the County and Community Housing Partners cannot agree, they shall apply to a court
of competent jurisdiction to substitute such provision as the court deems reasonable
and judicially valid, legal and enforceable. Such provision determined by the court
shall automatically be deemed part of this Agreement ab initio.
N. Equal Opportunity. Community Housing Partners shall not discriminate against any
employee or applicant for employment because of race, color, religion, sex, national
origin, political affiliation or belief, age, handicap, or familial status in the
implementation of the Project.
O. Headings. Headings are for convenience only and shall not be used to interpret or
construe the provisions of this Agreement.
P. Gender; Singular and Plural. As used herein, the neuter gender includes the feminine
and masculine. The masculine includes the feminine and neuter, and the feminine
includes the masculine and neuter and each includes a corporation, partnership or other
legal entity when the context so requires. The singular number includes the plural and
vice versa, whenever the context so requires.
Q. Compliance with Laws. To the extent applicable, each party hereto agrees to comply
with all laws, ordinances and regulations affecting the Property from and after the date
hereof. Without limiting the generality of the foregoing, Community Housing Partners
shall comply with all federal, state and local laws, regulations and ordinances
applicable to the expenditure of funds provided by the County, to develop the Property.
R. Publicity; Signage. Community Housing Partners agrees to provide such publicity
with respect to the County's participation in the development of the Property as the
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County shall reasonably require. Any signage at the Property shall acknowledge the
County's role and contribution.
S. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original but all of which together shall constitute one and the
same instrument.
T. No Third Party Rights. The parties hereto covenant and agree that nothing contained
in this Agreement or any act by the County or Community Housing Partners shall be
deemed or construed by the parties or any third party to create any relationship of third
party beneficiary, including third party principal or agent, or to create any right, claim
or cause of action against the County, Community Housing Partners or any of their
respective officers, agents or employees by any third party.
U. Performance of Government Functions. Notwithstanding anything in this
Agreement which may be to the contrary, nothing contained in this Agreement shall in
any way stop, limit or impair the County from exercising or performing any regulatory,
policing or governmental powers or functions with respect to the Property including,
without limitation, inspection of the Property in the performance of such functions.
V. Duration of Agreement. This Agreement shall be effective on the date of execution
and shall remain in effect during the period of affordability required by the recorded
Declaration of Restrictive Covenants. Notwithstanding anything else herein to the
contrary, upon recordation of the Declaration of Restrictive Covenants and completion
of construction of the Project, the County’s sole remedy will be with respect to
enforcement of its rights and remedies pursuant to the Declaration of Restrictive
Covenants, and prior to completion of construction, the County can enforce rights
against CHP if construction is not completed, but County’s sole rights with respect to
Owner shall be set forth in the Declaration of Restrictive Covenants , and Owner shall
have no liability to County for the Project Funds.
[SIGNATURES ON FOLLOWING PAGE]
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IN WITNESS WHEREOF, the parties hereto, intending to be legally bound, have set their hands and seals
on the day and year first above written.
COMMUNITY HOUSING PARTNERS CORPORATION
By: _________________________________
Andrew Davenport, Vice President
ORANGE COUNTY, NORTH CAROLINA
By: ___________________________________
Bonnie Hammersley, County Manager
This document has been preaudited in accordance with the N.C. Local Government and Fiscal
Control Act.
____________________________
Gary Donaldson, Finance Director
Approved as to form and legality
____________________________
Morgan Pierce, Staff Attorney
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EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
BEING all of Orange County Tax Parcel # 9788194511 and being more particularly described as
follows:
PARCEL 1:
Beginning at an Iron Rod found, having North Carolina State Plane coordinates of N:789,586.63
feet, E: 1,981,828.35 feet, being the southeasternmost corner of the property herein described,
located North 44°28'14" West, 1,840.15 feet from NGS Monument Fireman, having North
Carolina State Plane coordinates of N:788,273.48 feet, E: 1,983,117.45 feet; thence South
65°57'03" West, 442.19 feet to a Capped 5/8 Inch Rebar found, a common corner with Hong
Ryeol Na & spouse Sung Kwak (DB 6780 PG 908) and Mercia Residential Properties, Inc. (DB
2026 PG 557), passing through an Iron Rod found, 1.17 feet north of line, at 169.75 feet, passing
through an Iron Rod found, 1.40 feet north of line, at 227.66 feet, passing through an Iron Pipe
found, 1.63 feet north of line, at 262.66 feet, passing through an Iron Rod found, 1.24 feet north
of line, at 317.99 feet, passing through an Iron Rod found, 0.97 feet north of line, at 373.24 feet
and passing through an Iron Rod found, 0.66 feet north of line, at 428.49 feet; thence No rth
22°10'41" West, 163.48 feet to an Iron Pipe found, a common corner with Mercia Residential
Properties, Inc. (DB 2026 PG 557) and Marty D. Boles (DB 6781 PG 391); thence South
65°42'08" West, 185.81 feet to an Iron Pipe found, a common corner with Marty D. Boles (DB
6781 PG 391) and Self-Help Ventures Fund (DB 6643 PG 2180); thence North 23°17'57" West,
252.21 feet to an Iron Pipe found, a common corner with Self-Help Ventures Fund (DB 6643 PG
2180) and The Town of Chapel Hill (DB 772 PG 191); thence South 88°51'18" East, 738.50 feet
to a 2 Inch Pinched Top Iron Pipe found, a common corner with The Town of Chapel Hill (DB
772 PG 191) and Community Alternatives for Supportive Abodes (DB 4583 PG 470); thence
South 1° 54'49" West, 111.67 feet, passing through an Iron Rod found, at 6.95 feet, and crossing
Trinity Court, a variable width Driveway Easement, to the Beginning, containing 3.23 acres,
more or less.
PARCEL 2:
TOGETHER WITH the easement rights appurtenant to said property as set forth and described
in that certain Access Easement Agreement made by and between CASA and the Town of Chapel
Hill recorded in Book 6818, Page 1038, Orange County Registry.
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EXHIBIT B
Scope of Services
Services to be provided are in accordance with Community Housing Partners Corporation 2023-
24 Capital Investment Plan Funding Application and attachments.
Funds will be used to assist with demolition, predevelopment, and infrastructure and site
improvement costs, as described herein, at 751 Trinity Court, Chapel Hill, North Carolina, which
will include approximately 54 affordable housing units for lease to households earning between
less than 30% and no more than 80% of the HUD area median income.
All improvements and/or construction will be completed in compliance with applicable state and
local building codes, regulations, and ordinances.
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Exhibit C
PROJECT BUDGET
Proposed Uses of Funds
Demolition, Predevelopment, Infrastructure and $950,000.00
Site Improvement
Total Uses of Funds $950,000.00
Sources of Funds
Orange County Capital Investment Plan $ 950,000.00
Total Sources of Funds $ 950,000.00
Community Housing Partners Corporation may not request disbursement of funds under this
Agreement until the funds are needed for payment of eligible costs. The amount of each request
must be limited to eligible costs as determined by the County’s Housing and Community
Development Department (“HCD").
Funds may be shifted between line items of the Project without prior approval of the County only
to the extent of “Minor Adjustments,” defined as actions which do not result in a change in the
Project and so long as such Minor Adjustments do not exceed ten percent (10%) of the line item
total from which the funds are being removed or to which the funds are being added, there is no
increase to the Total Renovation Cost specified in the above budget, and there are only minor
changes to the Plans and Specifications.
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EXHIBIT D
Declaration of Restrictive Covenants
See attached
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Revised 07/20
ORANGE COUNTY—DEPARTMENT USE ONLY
______________________________________________________________________________
Party/Vendor Name: Community Housing Partners Party/Vendor Contact Person: Andy Davenport Contact Phone:
(540) 382-2002 Party/Vendor Address: 448 Depot St NE City: Christiansburg State: VA Zip: 24073 Department:
Housing Amount: $950,000 Purpose: Affordable Housing CIP Funds Budget Code(s): 61370035-889105-14001
Vendor #: 68497 Vendor is a BOCC consultant? Yes No Contract Type: (Check one) New Renewal
Amendment Effective Date April 15, 2024 Approved by Board Yes No Agenda Date: 12/ 2023
This agreement is approved as to technical form and content and I as Department Direc tor affirmatively state work on
this project has not been initiated prior to execution of the agreement:
Department Director’s Signature ________________________________________ Date: ________
Agreements for emergency services or repair are not subj ect to the above affirmation. If services related to this
agreement have already begun or been completed please briefly describe the nature of the emergency condition that
was addressed:
Information Technologies
(Applicable only to hardware/software purchases or related services) This agreement has been reviewed and is
approved as to information technology content and specifica tions:
Office of the Chief Information Officer___________________________________ Date: ________
Risk Management
This agreement is approved for sufficiency of insurance standards, specifications, and requirements:
Office of the Risk Management Officer___________________________________ Date: _________
Financial Services
This instrument has been pre-audited in the manner required by the Local Government Budget and Fiscal Control Act:
Office of the Chief Financial Officer ____________________________________ Date: _________
Legal Services
This agreement is approved as to legal form and sufficiency:
Office of the County Attorney __________________________________________Date: ________
Clerk to the Board
Received for record retention:
All Docusign contracts must be copied to the Clerk upon completion: occlerkdocs@orangecountync.gov
The following signature block is for hard copies only and is not required for Docusign contracts:
Office of the Clerk to the Board __________________________________________Date:_________
DocuSign Envelope ID: 6723EB43-5934-4E1A-A173-E46F70EADEBB
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