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<br />"! <br />V //~ / / <br />NORTH CAROLINA <br />ORANGE COUNTY <br />Orange County HOME Consortium <br />HOME Investment Partnership Program Consortium Agreement <br />THIS AGREEMENT made and entered into by and among the County of Orange <br />(hereinafter "County"), the Town of Carrboro, the Town of Chapel Hill, and the Town of <br />Hillsborough (hereinafter "Towns"), each being a general local governmental unit of the <br />State of North Carolina, and is made pursuant to North Carolina Statutes, Article 20 of <br />Chapter 160A. <br />WHEREAS, County and Towns agree that it is desirable and in the interests of their <br />citizens to secure approval by the federal government to be considered as a consortium <br />under the federal HOME Program operated by the U.S. Department of Housing and <br />Urban Development as authorized under the HOME Investment Partnership Act, Title II <br />of the Cranston-Gonzalez National Affordable Housing Act of 1990, as amended; <br />NOW, THEREFORE, the County and the Towns agree as follows: <br />Section 1. Definitions <br />The definitions contained in 24 CFR Part 92, Subpart A, paragraph 92.2 are incorporated <br />herein by reference and made a part hereof, and the terms defined in this section have the <br />following meanings given them: <br />A. "Act" means Title II of the Cranston-Gonzalez National Affordable <br />Housing Act, as amended (42 U.S.C. 12701 et. seq.). <br />B. "Consolidated Plan" means the Consolidated Plan for Housing and Community <br />Development Programs as established in the Act and prepared and adopted by the <br />County and Towns, as amended from time to time. The Plan describes the needs, <br />resources, priorities and proposed activities to be undertaken with respect to HUD <br />Programs, including the HOME Program. <br />C. "Federal HOME Program" means a procedure established for the use of funds <br />made available from HUD through the Act to carry out multi-year housing <br />strategies through assistance to first-time homebuyers and existing homeowners, <br />property acquisition, rehabilitation and new construction of housing, site <br />improvements, tenant-based rental assistance, demolition, relocation expenses and <br />other reasonable and necessary expenses related to the development of affordable <br />housing. <br />D. "HUD" means the United States Department of Housing and Urban Development. <br />E. "Regulations" means 24 CFR Part 92 HOME Investment Partnerships Program <br />Implementing Regulations as issued by HUD. <br />F. "Federal HUD Consortium" means a consortium of units of general local <br />governments bound by the terms of a HOME Investment Partnership Act <br />