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NORTH CAROLINA <br /> ORANGE COUNTY <br /> Orange County HOME Consortium <br /> HOME Investment Partnership Program Consortium Agreement <br /> THIS AGREEMENT made and entered into by and among the County of Orange <br /> (hereinafter"County"), the Town of Carrboro,the Town of Chapel Hill, and the Town of <br /> Hillsborough (hereinafter "Towns"), each being a general local governmental unit of the <br /> State of North Carolina, and is made pursuant to North Carolina Statutes, Article 20 of <br /> Chapter 160A. <br /> WHEREAS, County and Towns agree that it is desirable and in the interests of their <br /> citizens to secure approval by the federal government to be considered as a consortium <br /> under the federal HOME Program operated by the U.S. Department of Housing and <br /> Urban Development as authorized under the HOME Investment Partnership Act, Title II <br /> of the Cranston-Gonzalez National Affordable Housing Act of 1990, as amended; <br /> NOW, THEREFORE,the County and the Towns agree as follows: <br /> Section 1. Definitions <br /> The definitions contained in 24 CFR Part 92, Subpart A, paragraph 92.2 are incorporated <br /> herein by reference and made a part hereof, and the terms defined in this section have the <br /> following meanings given them: <br /> A. "Act"means Title II of the Cranston-Gonzalez National Affordable <br /> Housing Act, as amended (42 U.S.C. 12701 et. seq.). <br /> B. "Consolidated Plan" means the Consolidated Plan for Housing and Community <br /> Development Programs as established in the Act and prepared and adopted by the <br /> County and Towns, as amended from time to time. The Plan describes the needs, <br /> resources, priorities and proposed activities to be undertaken with respect to HUD <br /> Programs, including the HOME Program. <br /> C. "Federal HOME Program" means a procedure established for the use of funds <br /> made available from HUD through the Act to carry out multi-year housing <br /> strategies through assistance to first-time homebuyers and existing homeowners, <br /> property acquisition, rehabilitation and new construction of housing, site <br /> improvements, tenant-based rental assistance, demolition, relocation expenses and <br /> other reasonable and necessary expenses related to the development of affordable <br /> housing. <br /> D. "HUD"means the United States Department of Housing and Urban Development. <br /> E. "Regulations" means 24 CFR Part 92 HOME Investment Partnerships Program <br /> Implementing Regulations as issued by HUD. <br /> F. "Federal HUD Consortium" means a consortium of units of general local <br /> governments bound by the terms of a HOME Investment Partnership Act <br />