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4 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />grange County HgME Consortium <br />HgME Investment Partnership Program Consortium Agreement <br />THIS AGREEMENT made and entered into by and among the County of Orange thereinafter <br />"County"}, the Town of Carrboro, the Town of Chapel Hill, and the Town of Hillsborough <br />thereinafter "Towns"}, each being a general local governmental unit of the State of North <br />Carolina, and is made pursuant to North Carolina Statutes, Article °2~ of Chapter 164A. <br />WHEREAS, County and Towns agree that it is desirable'and irk the interests of their citizens to <br />secure approval by the federal government to be considered as a° ;.consartium under the federal <br />HOME Program operated by the U. S. Depar~ment~~-..of Housing ~ and Urban Development as <br />authorized under the HOME Investment Partnership ~ Act, Title II of,, the Cranston-Gonzalez <br />National Affordable Housing Act of I994, as`amended; <br />NOW, THEREFORE, the County and the Towns agree as follows: ... <br />Section 1. Def nations ~ = <br />The definitions contained in 24 CFR Park 92, Subpart A, paragraph 92.2 are incorporated herein <br />by reference and made;a:: p~.rt .hereof, acid ~ .the ~ern~ `: def ned in `this section have the following <br />meanings given theni:`:~` " <br />A. "Act" means T~~le II of the Cranston-.±Ganzalez National Affordable Housing Act, as <br />amended_~42 U.S.C.1270.Z'~et::seq,}. <br />B. " C:onsolidate~d~ .Plan" means the ~~ Consolidated Plan for Housing and Community <br />Development Programs as established in~ the Act and prepared and adopted by the County <br />andTowns, as amended from time to time. The Plan describes the needs, resources, <br />priorites....,.and proposed acti~~~:ies to be undertaken with respect to HUD Programs, <br />including `lhe HOME Program: <br />C. "Federal HOME Program" means a procedure established for the use of funds made <br />available from ~~:UD .through the Act to carry out multi-year housing strategies through <br />assistance to f rst~~t~ne homebuyers and existing homeowners, propeirty acquisition, <br />rehabilitation and new construction of housing, site improvements, tenant-based rental <br />assistance, demolition, relocation expenses and other reasonable and necessary expenses <br />related to the development of affordable housing. <br />D. "HUD" means the United States Department of Housing and Urban Development. <br />E. "Regulations" means 24 CFR Part 92 HOME Investment Partnerships Program <br />Implementing Regulations as issued by HUD. <br />F. "Federal HUD Consortium" means a consortium of units of general local governments <br />bound by the terms of a HOME Investment Partnership Act Consortium Agreement far <br />the purpose of participating in the Federal HOME Program and receiving funds as <br />authorized in the Federal Program Regulations. <br /> <br />