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7 <br />Attachment 4 <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 pro~ect 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 <br />project is financed by proceeds from the 1997 voter approved bond referendum <br />and from Affordable 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 following revenue is anticipated to complete this project: <br /> Through FY <br />2001-02 <br />FY 2002-03 Through FY <br />2002-03 <br />Sales Tax $0 $0 $0 <br />Bond Funds $1,287,500 $345,000 $1,632,500 <br />Grant Funds $0 $15,000 $15,000 <br />Private Placement $0 $0 $0 <br />Fees $0 $0 $0 <br />Housin Trust Funds $50,000 $0 $50,000 <br />Total Fundin $1,337,500 $360,000 $1,697,500 <br />Section 4.The following amount is appropriated for this project: <br /> Through FY <br />2001-02 <br />FY 2002-03 Through FY <br />2002-03 <br />Land <br />EmPOWERment $90,000 $0 $90,000 <br />Habitat for Hur„a„i $460,000 $0 $460,000 <br />Total Land $550,000 $0 $550,000 <br />Desi $0 $0 $0 <br />Construction $0 $0 $0 <br />Scarlett Drive $140,000 $0 $140,000 <br />EmPOWERment $247,500 $0 $247,500 <br />Meadowmont <br />Condominiums <br />$400,000 <br />$0 <br />$400,000 <br />Continuing Caze Center $0 $275,000 $275,000 <br />Total Construcrion $787,500 $275,000 $1,062,500 <br />Pine Knolls Community <br />House Relocation <br />$0 <br />$85,000 <br />$85,000 <br />Other $0 $0 $0 <br />Total Costs $1 37,500 $360,000 $1,697,500 <br />