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WHEREAS, Orange County has previously approved in principle a plan to finance a portion of the <br />construction costs for a new high school for the Orange County school district through an installment <br />financing contract, as authorized under Section 160A-20 of the North Carolina General Statutes; and <br />WHEREAS, by resolution adopted June 6, 2000, the Board of Commissioners made certain findings of <br />fact and tentative determinations to proceed with such an installment financing; and <br />WHEREAS, those findings and determinations were made subject to the Board's further consideration in <br />light of any public comment received at the public hearing that is required by law prior to such an <br />installment financing; and <br />WHEREAS, the Board has now conducted the required public hearing; <br />NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of Orange County, North <br />Carolina, confirms its determination to proceed with an installment financing for the new Orange county <br />high school project, and confirms the findings of fact contained in the resolution of June 6; and <br />BE IT FURTHER RESOLVED that BB&T Capital Markets shall be retained as the County's senior <br />managing underwriter for the installment financing; and <br />BE IT FURTHER RESOLVED that the Finance Officer, the County's bond counsel, and all other County <br />officers and employees are authorized and directed to proceed with the formation of the nonprofit <br />financing corporation necessary for the contemplated plan of financing; and <br />BE IT FURTHER RESOLVED that the Finance Officer and all other County officers and employees are <br />authorized and directed to proceed with all such further action as they may consider necessary or <br />desirable to complete the installment financing contemplated by this resolution. <br />VOTE: UNANIMOUS <br />b. FY 2000 Housina Development Grant Application <br />The Board received comments from the public regarding the development of a FY 2000 <br />Housing Development Grant application and considered a resolution authorizing the submission of the <br />formal application document on or about July 7, 2000. <br />Housing and Community Development Director Tara Fikes said that the purpose of this public <br />hearing was to receive comments on the FY 2000 Housing Development Grant Application. At the last <br />County Commissioners' meeting a public hearing was held to receive citizen comments regarding <br />possible projects for this application process prior to developing the application. At that time, the <br />Executive Director of Habitat for Humanity asked for funding assistance for the development of a planned <br />subdivision in Efland known as Richmond Hills. An application has been developed for Habitat for <br />Humanity. Habitat for Humanity is asking for $250,000 to assist in the construction of necessary <br />infrastructures for the project (water, sewer, or roads). In return, Habitat for Humanity will commit to <br />constructing 25 homes for low-income families within a 30-month performance period. These homes will <br />be affordable to families at 50% and below HUD median income. <br />Commissioner Brown asked why Habitat would commit to 25 houses in 30 months. Susan <br />Levy, Director of Habitat far Humanity, said that they felt that they could build 25 houses in the 30-month <br />time period. The full amount of the grant is $250,000 and there is a requirement of 25 houses to receive <br />the full amount. This grant would allow the houses to be extremely affordable at a cost of $350.00 a <br />month including taxes and insurance. <br />A motion was made by Commissioner Brown, seconded by Commissioner Halkiotis to <br />approve and authorize the Chair to sign the resolution as stated below: <br />RESOLUTION AUTHORIZING AN APPLICATION FOR COMMUNITY <br />DEVELOPMENT BLOCK GRANT FUNDS <br />