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3 <br />RESOLUTION AUTHORIZING THE 1998 -99 HOME PROGRAM DESIGN <br />BE IT RESOLVED, by the Orange County Board of Commissioners, that the <br />Commissioners as a member of the Orange County HOME Consortium approve the following <br />activities for the 1998 -99 HOME Program. <br />New Construction <br />Funds would be allocated to Habitat for Humanity of Orange County, Inc., an approved <br />Community Housing Development Organization (CHDO) to assist in the construction of six (6) <br />new houses throughout Orange County. The funding amount includes $3,000 that will be used <br />for program administration expenses. <br />$63,000 <br />Neighborhood Revitalization Homeownership Revolving Loan Fund <br />Funds would be used to capitalize a Neighborhood Revitalization Loan Fund for the purchase, <br />rehabilitation, and/or new construction of housing in existing neighborhoods. Priority for funding <br />will be granted for activities in the Northside Community in Chapel Hill. <br />$210,000 <br />Housing Rehabilitation <br />Funds would provide deferred loans to rehabilitate low income owner - occupied and rental <br />housing units. Homeowners with less than 60% of median income would be eligible for these <br />loans. <br />180,375 <br />Program Administration <br />$40,300 <br />TOTAL PROGRAM FUNDS $493,675 <br />BE IT FURTHER RESOLVED, that the Manager is hereby designated as the <br />authorized representative of the County to act in connection with the submission of this revision <br />and to provide such additional information as may be required by the U.S. Department of Housing <br />and Urban Development. <br />This the 6th day of May 1998. <br />