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Community Development Block Grant/Individual Development Account Program <br /> Grant Project Ordinance <br /> e County Board of County Commissioners that pursuant to Section <br /> Be it ordained by the Orang <br /> rant project is <br /> 13.2 of Chapter 159 of the General Statutes of North Carolina, the following g <br /> hereby adopted. <br /> project authorized is the Community Development Block Grant e County <br /> Section 1. The prof artment of <br /> (CDBG)llndividual Development Account Program <br /> North Carolina n Dep rang <br /> Housing and Community Development by qualify for <br /> Commerce. Funds from this granw to purchase their first home. To qu fy <br /> participants' savings for a down payment <br /> this match, homebuyers must have incomes below 80% of the area median income. <br /> The officers of the County are hereby directed to proceed with the grant project <br /> Section 2. rant document, the rules and regulations of the North Carolina <br /> within the g <br /> Department of Commerce. lete this project: <br /> Section 3. The following revenue is anticipated to be available to comp 50,000 <br /> 06)5-06) $P0,000 <br /> b:tergoverrnnentad-CDBG-IDA Prrogram 05-06) $15,000 <br /> Tranrferfrom 2005-06 HOME Program 0 05-0 85,000 <br /> Traa fer from CDBG Program Income �05-06) $90,000 <br /> 000 <br /> Contribution from the W'O"" r:'a Center Total <br /> Section 4. The following amount is appropriated for this project: <br /> $90,000 <br /> Human Services-Individual Development Account Program <br /> Section 5. The finance officer is hereby directed to ovine the ahin thei grto the grantor agency <br /> specific detailed accounting records to p <br /> required by the grant agreement and federal and state regulations. <br /> be advanced from the General Fund for the purpose of making for agency in <br /> Section 6. Funds may requests should be made to the g <br /> payments due. Reimbursement <br /> an orderly and timely manner, <br /> Copies of this grant project ordinance shall be made available to the finance officer <br /> Section 7. <br /> for direction in carrying out this project. <br /> Section 8. No full-time equivalent County positions are related to this grant. <br /> Section 9. This ordinance supersedes previous Community Development Block <br /> Grant/Individual Government t Account Program Grant Project Ordinances for <br /> Orange Co y <br /> Section 10. This project period goes through February 28, 2008. <br /> Adopted this 26th day of June 2007. <br />