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ATTACHMENT 3 <br />Community Development Block Grant/Individual Development Account Programs <br />Grant Project Ordinance <br />Be it ordained by the Orange County Board of County Commissioners that pursuant to Section <br />13.2 of Chapter 159 of the General Statutes of North Carolina, the following grant project is <br />hereby adopted. <br />Section 1. The project authorized is the Community Development Block Grant <br />(CDBG)/Individual Development Account Program as awarded to Orange County <br />Housing and Community Development by the North Carolina Department of <br />Commerce. Funds from this grant will be used to match first-time homebuyer <br />participants' savings for a down payment to purchase their first home. To qualify for <br />this match, homebuyers must have incomes below 80% of the area median income. <br />Section 2. The officers of the County are hereby directed to proceed with the grant project <br />within the grant document, the rules and regulations of the North Carolina <br />Department of Commerce. <br />Section 3. The following revenue is anticipated to be available to complete this project: <br />Irn-er~;az~rmrental -CDBG - IDA Program (FY OS-06) $S0, 000 <br />Transfer from 2005-06 HOYI~IE Pyngrarr~FY OS-06) $20, 000 <br />Transfer from CDBG Program Irx~ (FY OS-06) $1 S, 000 <br />Cc~nrJ~zi frown tlae Worr~rz's C,errter (FY OS-06) $S, 000 <br />T~ral $90,000 <br />Section 4. The following amount is appropriated for this project: <br />I~rrmanServue.c -IndzvidualD~velopment~4cauntProgram ,x'90,000 <br />Section 5. The finance officer is hereby directed to maintain within the Grant Project sufficient <br />specific detailed accounting records to provide the accounting to the grantor agency <br />required by the grant agreement and federal and state regulations. <br />Section 6. Funds may be advanced from the General Fund for the purpose of making <br />payments due. Reimbursement requests should be made to the grantor agency in <br />an orderly and timely manner. <br />Section 7. Copies of this grant project ordinance shall be made available to the finance officer <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 Development Account Program Grant Project Ordinances for <br />Orange County Government. <br />Section 10. This project period goes through February 28, 2007. <br />Adopted this 21 st day of February 2006. <br />