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<br />assist in the infrastructure costs at that subdivision. Habitat for Humanity has committed to providing <br />first time home-ownership opportunities to approximately 25 low-income families, most of whom will <br />be TANF eligible families. <br /> A motion was made by Commissioner Brown, seconded by Commissioner Gordon to <br />approve execution of the Grant Agreement; Funding Approval Form; Signatory Form and <br />Certification cards; and the Development Agreement for the FY 2001 Community Development <br />Block Grant Award and authorize the Chair to sign the documents on behalf of the Board. The <br />motion includes the adoption of the Grant Project Ordinance for this grant award. <br />VOTE: UNANIMOUS <br /> <br />7. PUBLIC HEARINGS <br /> a. Orange County Housing Rehabilitation CDBG Program <br /> <br />The Board received public comments on the fiscal year 2001 Orange County Housing <br />Rehabilitation Program. <br /> The funds received are to be used to repair sub-standard housing occupied by low- <br />income families in the towns of Carrboro, Hillsborough, and unincorporated Orange County. The <br />funds cannot be used by Chapel Hill since they receive CDBG funding directly from HUD. In order to <br />receive the funds, the State requires that the County hold two public hearings - one at the beginning <br />th <br />of the application and development process and another (February 20) in order to receive <br />th <br />comments on the application itself prior to submitting it to the State on February 28. <br /> No comments were made. <br /> A motion was made by Commissioner Brown, seconded by Commissioner Jacobs to <br />close the public hearing and proceed with the development of the application. <br />VOTE: UNANIMOUS <br /> <br /> b. Public Hearing on Financing for Property Acquisition at 112 and 118 North Churton <br />Street in Hillsborough <br /> <br />The Board conducted a public hearing on matters related to financing the purchase of <br />properties located at 112 and 118 North Churton Street, and considered action to acquire funds for <br />purchase of the property. <br />Director of Purchasing and Central Services Pam Jones and Finance Director Ken <br />Chavious described the important components of this item. <br /> Pam Jones reported on the environmental assessment. The original analysis of the <br />property indicated that there was an underground storage tank. While investigating the contents of <br />the well in the basement of the smaller building, the environmental consultant found some material <br />floating on the top that had the odor of fuel oil. The County Attorney has successfully negotiated <br />with CCB for the County to remove the tank and test the soil underneath the tank and check the <br />well. Quantum Environmental will be responsible for the tank removal. The tank should be out <br />within three weeks. In the meantime, they want to go ahead and process the LGC approval and <br />close on the property expeditiously once the environmental assessment is received. The resolution <br />has been changed to make it clear that this transaction is contingent on a successful environmental <br />assessment. <br /> Ken Chavious said that he was successful in negotiating the interest rate down from <br />6.58% to 6.34%. This will result in a $6,000 savings. The total principle and interest cost will be <br />approximately $642,000. The rent payments will be reallocated toward paying the debt and the <br />additional funds will come from the CIP. <br /> No public comments were made. <br /> A motion was made by Commissioner Brown, seconded by Commissioner Jacobs to <br />close the public hearing and adopt the resolution as presented and included herein by reference. <br />VOTE: UNANIMOUS <br /> <br /> <br /> <br /> <br /> <br />