2012-138 Housing - Habitat for Humanity $75,000

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/7/6'u x, 7,19 Please return this copy to the Clerk's to the Board's NORTH CAROLINA —office for permanent agenda file. — ORANGE COUNTY DEVELOPMENT AGREEMENT This is an AGREEMENT between ORANGE COUNTY, a general local governmental unit of the State of North Carolina, (hereinafter referred to as the "County") and HABITAT FOR HUMANITY OF ORANGE COUNTY, NC, INC., a North Carolina non-profit housing organiz do (hereinafter referred to as "Habitat"). The effective date of this Agreement is WITNESSTH WHEREAS, the Orange County HOME Consortium has designated $75,000 in FY 2011 HOME funds for pre-development and acquisition costs for a nine (9) acre tract on School House Road in Orange County which is hereinafter designated as "the Property" and more particularly described in Exhibit A of this Agreement and; WHEREAS, Orange County is the lead entity of the Orange HOME Consortium, so designated in an agreement dated July 1, 2011, and as such is the lead entity in a representative capacity for all members of the Orange HOME Consortium for the purposes of carrying out the HOME Program in accordance with the Title II of the Cranston-Gonzalez National Affordable Housing Act (Pub. L. 101-625), (42 U.S.C. 3535(d.) et. seq.) (hereinafter referred to as the "Act"), and as further defined in the Federal Program Requirements provided by the U.S. Department of Housing and Urban Development; and WHEREAS, Habitat is acquiring the Property to develop a 28 unit subdivision to be known as Tinnin Woods on the Property for first-time homebuyers earning up to 65% of HUD area median income as described in their FY 2011 HOME Program Application dated February 24, 2011 which is hereby incorporated into this Agreement, and hereafter referred to as "The Project". A copy of the 2011 HOME Program Application is on file in the office of the Housing and Community Development Department; and WHEREAS, Habitat intends to assist five (5) first-time homebuyers earning up to 65% of HUD area median income purchase the newly constructed housing units in the first phase of development; and WHEREAS, a first-time homebuyer for the purposes of this program is defined as any low income household that has not owned a home within the past five (5) years including households living in manufactured housing not permanently affixed to a foundation, or owner- occupants of homes not feasible for rehabilitation and has lived or worked in Orange County for at least one year prior to the home purchase;