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2004 S Housing - Consolidated Housing Plan Annual Update/HOME Program Signed Agreement with Chapel Hill
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2004 S Housing - Consolidated Housing Plan Annual Update/HOME Program Signed Agreement with Chapel Hill
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Last modified
4/15/2011 12:17:44 PM
Creation date
2/7/2011 4:49:04 PM
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BOCC
Date
5/4/2004
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
5g
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Agenda - 05-04-2004-5g
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 05-04-2004
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Transitional Housing Program Description <br />February 27, 2004 <br />Page 4 <br />In addition to the financial benefits, participants benefit from the collaborative partnerships <br />between local agencies (e.g. Women's Center and Orange Community Housing Corporation). As <br />part of the THP's lease agreement, program participants agree to work with local agencies in <br />order to prepare for the move to private market housing. The core curriculum consists of <br />homeownership, family finances, career development; and basic home maintenance classes. <br />Outcomes <br />The Transitional Housing Program addresses several housing priorities identified in the <br />Consolidated Plan for the Housing and Community Development Programs and provides viable <br />long-term strategies and solutions to pressing housing issues. <br />First, the Transitional Housing Program will result in the purchase of houses that will be <br />available for rent to low and moderate-income families. In addition to purchasing homes, funds <br />from the HOME Program will also be used to rehab, if necessary, the homes in order for them to <br />pass all housing code standards. <br />Second, the houses will provide opportunities for affordable housing in the Chapel Hill area. As <br />part of the THP, the houses will serve as tools in the education and preparation of future <br />homebuyers and owners and others entering the private housing market. <br />Third, as more houses are purchased for the THP, the rents paid will provide aself-sustaining <br />base of funds that will in turn assist in maintaining quality, affordable housing for the Chapel <br />Hill area. This strategy will have twofold benefits:. l} It will reduce the dependency on external <br />funds to keep the program solvent, and 2) It will maintain a core of quality, affordable rental <br />housing for low to moderate-income people. <br />The Transitional Housing Program provides the Chapel Hill area with quality rehabbed rental <br />housing affordable to low and moderate-income families. In addition, the THP fosters greater <br />economic independence and economic opportunities for low and moderate-income families. <br />Timetable for Spending Funds and ReachingGoal <br />HOME Program funds will be spent by September 2005. The goal is to purchase a house and <br />make any needed renovations and repairs in order for it to meet all housing code standards. To <br />this end, the process will include reviewing possible properties (4-5 months--seeking and <br />choosing the "right" or an appropriate house), purchasing the selected property (1-2 months <br />completing the legal work), and rehabilitating the property (2-3 months-bringing the house up <br />to living standards). <br />
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