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Affordable Housing Program <br /> Capital Project Ordinance <br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 <br /> of Chapter 159. of the General Statutes of North Carolina, the following capital project is hereby <br /> adopted. <br /> Section 1. The project authorized provides funds to fund housing activities in the following categories: <br /> land acquisition; housing development; and homeownership. The project is financed by <br /> proceeds from the 1997 voter approved bond referendum and from Housing Trust funds. <br /> Section 2. The officers of the County are hereby directed to proceed with the project within the budget <br /> contained herein. <br /> Section 3. The following revenue is anticipated to complete this project: <br /> Through FY Through FY <br /> 2000-01 FY 2001-02 2001-02 <br /> Sales Tax $0 $0 $0 <br /> Bond Funds $937,500 $350,000 $1,287,500 <br /> Private Placement $0 $0 $0 <br /> Fees $0 $0 $0 <br /> Housing Trust Funds $0 $50,000 $50,000 <br /> Total Funding $937,500 $400,000 $1,337,500 <br /> Section 4. The following amount is appropriated for this project: <br /> Through FY Through FY <br /> 2000-01 FY 2001-02 2001-02 <br /> Land <br /> EmPOWERment $90,000 $0 $90,000 <br /> Habitat for Humanity $460,000 $0 $460,000 <br /> Total Land $550,000 $0 $550,000 <br /> Design $0 $0 $0 <br /> Construction $0 $0 <br /> Scarlett Drive $140,000 $0 $140,000 <br /> EmPOWERment $247,500 $0 $247,500 <br /> Meadowmont <br /> Condominiums $0 $400,000 $400,000 <br /> Total Construction $387,500 , $400,000 $787,500 <br /> Other $0 $0 $0 <br /> Total Costsi $937,500 1 $400,000 $1,337500 <br /> Section 5. This ordinance supersedes previous Affordable Housing Capital Project Ordinances for <br /> Orange County Government. <br /> Section 6. This ordinance shall remain in effect until June 30, 2002. <br /> Adopted this 18'day of September 2001. <br />