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3 <br />RESOLUTION AUTHORIZING <br />THE ORANGE COUNTY 2003-2004 HOME PROGRAM DESIGN <br />BE IT RESOLVED, by the Orange County Board of Commissioners as a member of the Orange <br />County HOME Consortium approve following activities for the 2003-2004 HOME Program. <br />Property Acquisition <br />Funds would be allocated to Affordable Rentals, Inc. to assist in the purchase of a duplex rental unit on <br />Roosevelt Street in Chapel Hill for lease to low income families with incomes at 50% and below of <br />median income. <br />(Requested amount: $188, 000) <br />$188,000 <br />Funds would be allocated to the Town of Chapel Hill to assist the Town Department of Housing purchase <br />one dwelling unit to provide transitional housing for a public housing family transitioning to permanent <br />housing. <br />(Requested amount.• $125, 000) $32,000 <br />Homeowner Assistance <br />Funds would be allocated to Habitat for Humanity to provide ten (10 deferred second mortgages to first- <br />time homebuyers with incomes below 80% of median income in the Richmond Hills subdivision. <br />(Requested amount: $150,000) $150,000 <br />Funds would be allocated to Orange Community Housing and Land Trust to provide down-payment <br />assistance for up to 10 newly constructed condominiums at the planned Greenway Condominiums at <br />Meadowmont. Eligible families would be first-time homebuyers with incomes below 80% of median <br />income. <br />(Requested amount: $100,000) $100,000 <br />Funds would be allocated to EmPOWERment to provide up to 10 deferred second mortgages to first-time <br />homebuyers with incomes below 80% of median income. <br />(Requested amount: $250, 000) $ 75,000 <br />Funds would provide deferred loans to rehabilitate owner-occupied housing for homeowners with <br />incomes less than 80% of the area median income. <br />277,040 <br />Community Housing Development Organization (CHDO) Support <br />Funds would be allocated to Orange Community Housing and Land Trust to provide operational support. <br />(Requested amount: $10,000) $ 10,000 <br />Program Administration <br />TOTAL PROGRAM FUNDS <br />$ 73,959 <br />$ 832,040 <br />BE IT FURTHER RESOLVED, that the Manager is hereby designated as the authorized <br />representative of the County to act in connection with the submission of this plan and to provide such <br />additional information as maybe required by the U.S. Department of Housing and Urban Development. <br />This the 6th day of May 2003. <br />