RES-2006-047 Resolution Authorizing Orange County 2006-2007 Home Program Design & 2005-2006 Home Program Amendment

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~~S-~~~~-aye s~-~ -~~ RESOLUTION AUTHORIZING THE ORANGE COUNTY 2006-2007 HOME PROGRAM DESIGN ~ Q- AND 2005-2006 HOME PROGRAM AMENDMENT BE IT RESOLVED, by the Orange County Board of Commissioners as a member of the Orange County HOME Consortium approve the following activities for the 2006-2007 HOME Program. Property Acquisition Funds would be allocated to the Chrysalis Foundation to acquire property for a permanent supportive housing project that would provide housing for chronically homeless individuals and families. (Requested amount: $200, 000) $100,027 Homebuyer Assistance Funds would be allocated to Orange Community Housing and Land Trust to provide down-payment assistance for up to 12 newly constructed townhomes in the Waterstone development in Hillsborough. The dwelling .units will be developed by the private sector, and then placed in the Land Trust. Eligible families would be first-time homebuyers with incomes below 80% of median income. (Requested amount: $120, 000) $120,000 Funds would be allocated to EmPOWERment. to provide second mortgages to eight (8) first-time .homebuyers earning less than 80% of the area median income. (Requested amount: $159, 000) $159,000 Operational Support Funds would be allocated to Orange Community Housing and Land Trust as a Community Housing Development Organization for administrative expenses. (Requested amount: $1 S, 000) $15,000 New Construction Funds would be allocated to Habitat for Humanity to provide funding for infrastructure development of the Highland Woods subdivision in the Northern Fairview community in Hillsborough. (Requested amount: $240, 000) $240,000 Funds would be allocated to Habitat for Humanity to provide funding for infrastructure development of Phase II of the Rusch Hollow project located on Rusch Road in Chapel Hill. Habitat plans to build at least 12 dwelling units for sale to first-time homebuyers earning less than 60% of the area median income. (Requested amount: $250, 000) $250,000 Program Administration TOTAL HOME PROGRAM FUNDS $ 66,566 $950,593 BE IT FURTHER RESOLVED, that the Orange County Board of Commissioners as a member of the Orange County HOME Consortium approve following amendment for 2005-2006 HOME Program at the request of the Town of Hillsborough. The reallocation of $100,000 from Property Acquisition/Rehabilitation in the Northern Fairview community to New Construction to provide partial funding for infrastructure development in the proposed Highland Woods subdivision in the Northern Fairview community. BE IT FURTHER RESOLVED, that the Manager is hereby designated as the authorized representative of the County to act in connection with the submission of this plan and to provide such additional information as may be required by the U.S. Department of Housing and Urban Development. This the 4th day of May 2006.