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4 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />Orange County HOME Consortium <br />HOME Investment Partnership Program Consortium Agreement <br />THIS AGREEMENT made and entered into by and among the County of Orange (hereinafter <br />"County"), the Town of Carrbaro, the Town of Chapel Hill, and the Town of Hillsborough <br />(hereinafter "Towns"), each being a general local governmental unit of the State of North <br />Carolina, and is made pursuant to North Carolina Statutes, Article 20 of Chapter 160A. <br />WHEREAS, County and Towns agree that it is desirable and in the interests of their citizens to <br />secure approval by the federal government to be considered as a consortium under the federal <br />HOME Program operated by the U.S. Department of Housing and Urban Development as <br />authorized under the HOME Investment Partnership Act, Title II of the Cranston-Gonzalez <br />Natioi~al Affordable Housing Act of 1990, as amended; <br />NOW, THEREFORE, the County and the Towns agree as follows: <br />Section 1. Definitions <br />The definitions contained in 24 CFR Part 92, Subpart A, paragraph 92.2 are incorporated herein <br />by reference and made a part hereof, and the terms defined in this section have the following <br />meanings given them: <br />A. "Act" means Title II of the Cranston-Gonzalez National Affordable Housing Act, as <br />amended (42 U.S.C. 12701 et. seq.). <br />B. "Consolidated 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 />and Towns, as amended from time to time. The Plan describes the needs, resources, <br />priorities and proposed activities to be undertaken with respect to HUD Programs, <br />including the HOME Program. <br />C. "Federal HOME Program" means a procedure established for the use of funds made <br />available from HUD through. the Act to carry out multi-year housing strategies through <br />assistance to first-time homebuyers and existing homeowners, property 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 for <br />the purpose of participating in the Federal HOME Program and receiving funds as <br />authorized in the Federal Program Regulations. <br />