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Agenda - 01-19-1999 - 8g
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Agenda - 01-19-1999 - 8g
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Last modified
8/5/2015 10:52:14 AM
Creation date
7/17/2009 4:10:55 PM
Metadata
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Template:
BOCC
Date
1/19/1999
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8g
Document Relationships
1999 S Agereement - Housing HOME Program Creel Street
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\1990's\1999
Minutes - 19990119
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\1990's\1999
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I r- <br />NORTH CAROLINA <br />ORANGE COUNTY DEVELOPMENT AGREEMENT <br />This is an AGREEMENT AMENDMENT between ORANGE COUNTY, a general <br />local governmental unit of the State of North Carolina, (hereinafter referred to as the <br />"County") and EmPOWERment, Inc., a North Carolina nonprofit corporation (hereinafter <br />referred to as "EmPOWERment'). The date of this Agreement is January 19, 1999. <br />WITNESSETH <br />WHEREAS, the Orange County HOME Consortium has expended $16,000 in FY <br />1992 HOME funds for the purpose of acquiring the property more particularly described in <br />Exhibit A attached hereto and made a part of this Agreement (hereinafter referred to as the <br />"Property"); and <br />WHEREAS, the County is the lead entity of the Orange HOME Consortium, so <br />designated in an agreement dated August 27, 1992, and amended January 26, 1993, and <br />July 28, 1993, and as such is the lead entity in a representative capacity for all members of <br />the Orange HOME Consortium for the purposes of carving out the HOME Program in <br />accordance with the Title II of the Cranston - Gonzalez National Affordable Housing Act <br />(Pub. L. 101 -625), (42 U.S.C. 3535(d.) et. seg.) (hereinafter referred to as the "Act "), and <br />as further defined in the Federal Program Requirements provided by the U.S. <br />Department of Housing and Urban Development; and <br />WHEREAS, EmPOWERment intends to develop the Property for the purpose of <br />constructing homeownership opportunities for first -time homebuyers; <br />WHEREAS, the County, entered into a Development Agreement with <br />EmPOWERment, Inc. on November 18, 1997; <br />NOW, THEREFORE, the County and EmPOWERment, Inc. agree that Paragraph <br />2 is amended to read as follows: <br />EmPOWERment agrees to accept conveyance of the Property and then to <br />market the Property, construct a single family home on the Property for the <br />selected buyer and complete the sale of the Property to the selected buyer on or <br />before June 30, 1999. The sales price of the Property to the selected buyer shall <br />not exceed the North Carolina Housing Financing Agency maximum new home <br />sales price in effect at the time of the sale to the selected buyer. <br />
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