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2 <br />Application Summary <br />FY2010 Orange County Economic Recovery Program Application <br />Background <br />Orange County has received an invitation from the NC Department of Commerce - <br />Division of Community Assistance to re-apply for Community Development Block Grant (CDBG) <br />funds from the 2010 NC Economic Recovery Program. (An unsuccessful application was <br />submitted in June 2009.) <br />Program Policies <br />Eligibility Criteria <br />1. The applicant must be the Owner of the residential property located in Orange <br />County but outside the corporate limits of the Town of Chapel Hill. . <br />2. The applicant must have total household income at or below 50% of the HUD <br />published area median income. <br />3. The property must not have received assistance for housing rehabilitation during <br />the previous 15 years. <br />4. The property must need repairs to meet the Minimum Housing Code. <br />5. The applicant shall have evidence of title to the property to be rehabilitated. <br />6. The applicant shall have paid all due property taxes. <br />Participant/Household Selection <br />Eight participants selected in 2009 will be resubmitted for reconsideration. <br />No extensive program marketing is anticipated at this time. The Housing, Human <br />Rights, and Community Development Department currently has a waiting list of <br />approximately 25 homes in need of rehabilitation assistance. <br />Terms of Assistance <br />All CDBG financial assistance will be in the form of a deferred loan that is proportionally <br />forgiven over the applicable term of recapture. <br />CDBG Assistance Recapture Period <br />$15,000 and less 5 years <br />$15,000 and $25,000 10 years <br />$25,000 and above 15 years <br />All deferred loans will be secured with a note and deed of trust recorded in the Orange <br />County Register of Deeds. <br />Target Number of Substandard Units <br />This program will target the repair of an estimated eight (8) substandard dwelling units at <br />an average cost of $45,000 per unit. Clearance and relocation is proposed for one <br />severely dilapidated dwelling unit that will be replaced from the footing. <br />Budget <br />Housing Rehabilitation $359,000 <br />Urgent Repair $100,000 <br />Clearance/Relocation $ 16,000 . <br />Program Administration $ 25,000 <br />