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6 <br />defined in the Federal Program Requirements for funding provided directly by HUD. <br />The County, in its capacity as lead entity, is authorized to enter into an agreement with <br />HUD. The Chair of the Orange County Board of Commissioners, chief elected of~cial of <br />the Lead Entity, acting on behalf of OHC, is authorized to submit an application for <br />funding under the federal HOME Program, consistent with the approved HOME program <br />design for each year. The County, as Lead Entity, is authorized to enter into agreements <br />with non-profit organizations receiving funding under an approved HOME program <br />design. <br />D. The County and Towns mutually agree that the County as Lead Entity shall assume <br />overall responsibility for ensuring that the OHC HOME program meets the requirements <br />concerning the Consolidated Plan is accordance with HUD regulations in 24 CFR Parts <br />92 and 91, respectively, and the requirements of 24 CFR 92.350(a)(5); and further, <br />ensuring that the OHC HOME program is carried out in compliance with the <br />requirements of the Act, the Regulations and the Federal Program Requirements. The <br />Towns agree to assist the County in maintaining compliance with the Act, the <br />Regulations, and the State and Federal Program Requirements for the full compliance <br />period, extending to and continuing beyond the expiration of this Agreement. <br />E. If any new entities join OHC, the County as Lead Entity agrees to notify HUD in writing <br />and to provide a copy of the authorizing resolution from the new members' governing <br />body and an amendment to this Agreement signed by the chief executive officer of the <br />new member. The County, as Lead Entity, is authorized by this agreement to amend this <br />Agreement on behalf of the entire consortium to add new members to OHC. <br />F. The County and the Towns mutually agree that the OHC's HOME program will provide <br />fair and ample opportunity for all members of the consortium to access the funding <br />brought to it in an amount that shall be determined by the State, and that the County and <br />Towns shall be given ample opportunity to comment on and approve the distribution of <br />all funding made available through the OHC. <br />G. The County as Lead Entity will finance the costs of administering the HOME Program <br />for OHC to the extent of appropriations. The County shall establish the HOME <br />Investment Trust Fund as specified in 24 CFR Part 92.500, and will participate in the <br />Cash Management Information System and other accounting and compliance procedures <br />as required by HUD. <br />H. If local matching funds are required by HUD, the County and Towns mutually agree that <br />the matching funds shall be provided in accordance with the following formula: <br />1. Orange County -- 40% <br />2. Town of Carrboro -- 15% <br />3. Town of Chapel Hill -- 41 % <br />4. Town of Hillsborough -- 5% <br />