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<br />Attachment 2
<br />Affordable Housing Program
<br />Capital Project Ordinance
<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 capital project is
<br />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. The project is
<br />financed by proceeds from the 1997 voter approved bond referendum and from Affordable
<br />Housing Trust funds.
<br />Section 2.The officers of the County are hereby directed to proceed with the project within the
<br />budget contained herein.
<br />Section 3.The followin revenue is antici ated to com lete this ro'ect:
<br /> Through FY
<br />2001-02
<br />FY 2002-03 Through FY
<br />2002-03
<br />Sales Tax $0 $0 $0
<br />Bond Funds $1,287,500 $345,000 $1,632,500
<br />Grant Funds $0 $15,000 $15,000
<br />Private Placement $0 $0 $0
<br />Fees $0 $0 $0
<br />Transfer from Community
<br />Development (Program
<br />Income
<br />
<br />$0
<br />
<br />$126,432
<br />
<br />$126,432
<br />Transfer from Community
<br />Development (Housing
<br />Trust Funds)
<br />
<br />$50,000
<br />
<br />$123,568
<br />
<br />$173,568
<br />Total Fundin $1,337,500 $610,000 $1,947,500
<br />Section 4.The following amount is appropriated for this project:
<br /> Through FY
<br />2001-02
<br />FY 2002-03 Through FY
<br />2002-03
<br />Land
<br />EmPOWERment $90,000 $0 $90,000
<br />Habitat for Humani $460,000 $0 $460,000
<br />Total Land $550,000 $0 $550,000
<br />Desi $0 $0 $0
<br />Construction $0 $0 $0
<br />Scarlett Drive $140,000 $0 $140,000
<br />EmPOWERment $247,500 $0 $247,500
<br />Meadowmont
<br />Condominiums
<br />$400,000
<br />$0
<br />$400,000
<br />Continuin Care Center $0 $275,000 $275,000
<br />Total Construction $787,500 $275,000 $1,062,500
<br />Pine Knolls Community
<br />House Relocation
<br />$0
<br />$85,000
<br />$85,000
<br />Sunrise Road Pro'ect $0 $250,000 $250,000
<br />Total Costs $1,337,500 $610,000 $1,947,500
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