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for housing services. The remaining $10,000 will be available far administrative expenses. This <br />$50,000 must be matched by $35,000 in local money. Staff is proposing that, of this $35,000, <br />$20,000 would come from 2005 HOME funds that were allocated in the last program design far <br />this program and that the other $15,000 would come from available CDBG program income <br />available in the County. The last IDA program was in 2002 and was finished in 2004. The <br />Women's Center in Chapel Hill served as program administrators and they are interested in <br />continuing with this new program. The application will be submitted to the State on or about <br />July 15t" <br />Commissioner Foushee asked how many participated in 2002 and Tara Fikes answered <br />11 families. <br />PUBLIC COMMENT: <br />Robin Poole is Director of Client Services at the Women's Center, and the administrator <br />of the IDA program. She spoke about the program from the perspective of the Women's <br />Center. She told of a client's experience in the IDA program. She said that the IDA program <br />gives opportunities for lower income families to achieve their dreams of home ownership and <br />this is the best way to help the lower income stay out of poverty. She said that the Women's <br />Center helps by providing monetary assistance and they also offer financial counseling. <br />A motion was made by Commissioner Jacobs, seconded by Commissioner Foushee to <br />receive comments from the public regarding the development of a FY 2005 Community <br />Development Block Grant (CDBG) Application for funds for an Individual Development Account <br />{IDA) Program; and approve a resolution, which is incorporated by reference, authorizing the <br />submission of the formal application document on or about July 15, 2005 and authorize the <br />Chair to sign. <br />VOTE: UNANIMOUS <br />b. Public Hearing on the Issuance of Refunding Bonds, Adoption of Refunding <br />Bond Orders and Adoption of Bond Sale Resolutions <br />The Board conducted the required public hearing an the advisability of issuing refunding <br />bonds, and considered adopting the appropriate Bond Order and resolutions to provide for the <br />sale of refunding bonds and a portion of the bonds approved at the County's 2001 bond <br />referendum. <br />Finance Director Ken Chavious said that at the June 14t" work session the Board <br />adopted a band order to pursue refunding bonds issued in 2000. The total amount of refunded <br />bonds right now is estimated at a maximum amount of $35 million. The estimated savings by <br />refunding these bands is $109,000 annually in debt service payments and $1.5 million for the <br />remaining term of the bonds. The August sale of the 2001 voted bonds would include $12.8 <br />million for the CHCCS High School #3, $12.885 million far the OCS Middle School #3, and $3.5 <br />million for the senior centers. The total voter approved bonds that will be sold will be <br />$29,185,000. In addition to this public hearing, the Board is to adopt a bond sale resolution. <br />There was no puh~ic comment. <br />A motion was made by Commissioner Jacobs, seconded by Commissioner Halkiotis to <br />adopt the bond order, the resolution for bond order publication, and the resolution formally <br />authorizing the sale of the 2001 bonds and the refunding bands. <br />VOTE: UNANIMOUS <br />9. Items for Decision--Regular Agenda <br />a. Southern Orange Senior Center Plan Review <br />The Board reviewed plans for the Southern Orange Senior Center as presented by <br />Gurlitz Architects and provided comments and/or endorsement as appropriate. <br />