Orange County NC Website
Browse       Search
~_-- ~ <br />.' r ~ Please return this copy to _ <br />Clerk to the Board's office for PAF <br />NORTH CAROLINA <br />ORANGE COUNTY <br />DEVELOPMENT AGREEMENT <br />This is an AGREEMENT between ORANGE COUNTY, a general local governmental <br />unit of the State of North Carolina, (hereinafter referred to as the "County") and HABITAT <br />FOR HUMANITY OF ORANGE COUNTY, NC, INC., a North Carolina non-profit housing <br />organ' ati n (hereinafter referred to as "Habitat"). The effective date of this agreement is <br />WITNESSTH <br />WHEREAS, the Orange County HOME Consortium has designated approximately <br />$200,000 in FY 2007 HOME funds for providing second mortgage funds for ten (10) units in the <br />Highland Woods subdivision in Orange County which subdivision is hereinafter designated as "the <br />Property" and; <br />WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so <br />designated in an agreement dated July 1, 2005, and as such is the lead entity in a representative <br />• capacity for all members of the Orange HOME Consortium for the purposes of carrying out the <br />HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable <br />Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. sec .) (hereina.fter referred to as the "Act"), <br />and as further defined in the Federal Program Requirements provided by the U.S. Department of <br />Housing and Urban Development; and <br />WHEREAS, Habitat intends to construct a 18 unit subdivision on the property with <br />dwelling units for first-time homebuyers earning up to 60% of HUD area median income as <br />described in their FY 2007 HOME Program Application dated February 22, 2007 which is <br />hereby incorporated into this Agreement, and hereafter referred to as "The Project". A copy of <br />the 2007 HOME Program Application is on file in the office of the Housing and Community <br />Development Department; and <br />WHEREAS, Habitat intends to assist ten (10) first-time homebuyers earning up to 60% <br />of HUD area median income purchase the newly constructed housing in the Project; and <br />WHEREAS, afirst-time homebuyer for the purposes of this program is defimed as any <br />low income household that has not owned a home within the past three (3) years including <br />households living in manufactured housing not permanently affixed to a foundation, or owner- <br />occupants of homes not feasible for rehabilitation and has lived or worked in Orange County for <br />at least one year prior to the home purchase; <br />• WHEREAS, notwithstanding any provision of this Agreement, the County and Habitat <br />hereto agree and acknowledge that this Agreement does not constitute a commitment of funds or <br />