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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 followina revenue is anticinntPd to cnrnnIPtP this nrniar_t-
<br />Section 4.The foil ing amount is appro riated for this ro'ect:
<br />Through FY
<br />2001 -02
<br />FY 2002 -03
<br />Through FY
<br />2002 -03
<br />Sales Tax
<br />$0
<br />$0
<br />$0
<br />Bond Funds
<br />$1,287,500
<br />$345,000
<br />$1,632,500
<br />Grant Funds
<br />$0
<br />$15,000
<br />$15,000
<br />Private Placement
<br />$0
<br />$0
<br />$0
<br />Fees
<br />$0
<br />$0
<br />$0
<br />Transfer from Community
<br />Development (Program
<br />Income )
<br />$0
<br />$126,432
<br />$126,432
<br />Transfer from Community
<br />Development (Housing
<br />Trust Funds)
<br />$50,000
<br />$123,568
<br />$173,568
<br />Total Fundingi
<br />$1,337,500
<br />$610,000
<br />$1,947,500
<br />Section 4.The foil ing amount is appro riated for this ro'ect:
<br />Through FY
<br />2001 -02
<br />FY 2002 -03
<br />Through FY
<br />2002 -03
<br />Land
<br />EmPOWERment
<br />$90,000
<br />$0
<br />$90,000
<br />Habitat for Humanity
<br />$460,000
<br />$0
<br />$460,000
<br />Total Land
<br />$550,000
<br />$0
<br />$550,000
<br />Design
<br />$0
<br />$0
<br />$0
<br />Construction
<br />$0
<br />$0
<br />$0
<br />Scarlett Drive
<br />$140,000
<br />$0
<br />$140,000
<br />EmPOWERment
<br />$247,500
<br />$0
<br />$247,500
<br />Meadowmont
<br />Condominiums
<br />$400,000
<br />$0
<br />$400,000
<br />Continuing Care Center
<br />$0
<br />$275,000
<br />$275,000
<br />Total Construction
<br />$787,500
<br />$275,000
<br />$1,062,500
<br />Pine Knolls Community
<br />House Relocation
<br />$0
<br />$85,000
<br />$85,000
<br />Sunrise Road Project
<br />$0 1
<br />$250,000
<br />$250,000
<br />Total Costs
<br />$1,337,500 1
<br />$610,000
<br />$1,947,500
<br />
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