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~ <br />Attachment 3 <br />Community Development Block Grant/lndividual Development Account Program <br />Grant.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 grant project is <br />hereby adopted. , <br />Section 1. The project authorized is the Community Development Block Grant <br />(CDBG)/Individual Development Account Program as awarded to Orange County <br />Housing and Community Development by the North Carolina Department of <br />Commerce. Funds from this grant witl be used to match first-time homebuyer <br />participants' savings for a down payment to purchase their first home. To qualify for <br />this match, homebuyers must have incomes below 80% of the area median i( come. <br />Section 2. The officers of the County are hereby directed to proceed with the grant project <br />within the grant document, the rules and regulations of the North Carolina <br />Department of Commerce. <br />Section 3. The following revenue is anticipated to be available to complete this project: <br />Intergatenrrr~rrtal - CDBG (Indi~zidual Dezelop~ntA ~rn Pyogr-a~ $40, 000 <br />Transfer f rrmA ffordable Ho~sing Reserce (02-03) $40, 000 <br />Taral , $80,000 <br />Section 4. The following amount is appropriated for this project: <br />HumanServrce,r -Indzviduall.~velopment~4countProgram ,$80,000 <br />Section 5. The finance officer is hereby directed to maintain within the Grant Project sufficient <br />specific detailed accounting records to provide the accounting to the grantor agency <br />required by the grant agreement and federal and state regulations. <br />Section 6. Funds may be advanced from the General Fund for the purpose of making <br />payments due. Reimbursement requests should be made to the grantor agency in. <br />an orderly and timely manner. <br />Section 7. Copies of this grant project ordinance shall be made available to the finance officer <br />for direction in carrying out this project. <br />Section 8. No full-time equivalent County positions are related to this grant. <br />Section 9. This ordinance supersedes previous Community Development Block <br />Grant/Individual Development Account Program Grant Project Ordinances for <br />Orange County Government. <br />Section 10. This project period goes through June 30, 2003. <br />Adopted this 19th day of November 2002. <br />