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o rl p-~ ~os~ D 3 S <br />Affordable Housing Program <br />Capital Project Ordinance <br />ATTACHMENTS <br />18 <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 <br />capital project is hereby adopted. <br />Section 1. The project authorized provides funds to fund housing activities in the following <br />categories: land acquisition, housing development, and homeownership. <br />Proceeds from the 1997 and 2001 voter approved bond referenda, Affordable <br />Housing Trust funds and Community Development Program Income finance the <br />project. <br />Section 2. The officers of the County are hereby directed to proceed with the project within <br />the budget contained herein. <br />Section 3. The following revenue is anticipated to complete this project: <br /> Through FY <br />2003-04 <br />F'Y 2004-OS Through FY <br />2004-05 <br />Sales Tax $0 $0 $0 <br />1997 Bond Funds $1,800,000 $0 $1,800,000 <br />2001 Bond Funds $1,300,000 $1,300,000 $2,600,000 <br />Grant Funds $0 $0 $0 <br />Private Placement $0 $0 $0 <br />Fees $0 $0 $0 <br />Transfer from Community <br />Develo ment(ProgramIncome <br />$126,432 <br />$0 <br />$126,432 <br />Transfer from Community <br />Develo ment (Housing Trust Funds <br />$173,568 <br />$0 <br />$173,568 <br />Total Fundin $3,400 000 $1,300,000 $4,700,000 <br />