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-- -9 050 <br /> 3 <br /> RESOLUTION AUTHORIZING THE 1998-99 HOME PROGRAM DESIGN <br /> BE IT RESOLVED, by the Orange County Board of Commissioners, that the <br /> Commissioners as a member of the Orange County HOME Consortium approve the following <br /> activities for the 1998-99 HOME Program. <br /> New Construction <br /> Funds would be allocated to Habitat for Humanity of Orange County, Inc., an approved <br /> Community Housing Development Organization (CHDO) to assist in the construction of six (6) <br /> new houses throughout Orange County. The funding amount includes $3,000 that will be used <br /> for program administration expenses. <br /> $63,000 <br /> Neighborbood Revitalization Homeownership Revolving Loan Fund - <br /> Funds would be used to capitalize a Neighborhood Revitalization Loan Fund for the purchase, <br /> rehabilitation, and/or new construction of housing in existing neighborhoods. Priority for funding <br /> will be granted for activities in the Northside Community in Chapel Hill. <br /> $210,000 <br /> Housing Rehabilitation <br /> Funds would provide deferred loans to rehabilitate low income owner-occupied and rental <br /> housing units. Homeowners with less than 60% of median income would be eligible for these <br /> loans. <br /> 180,375 <br /> Program Administration <br /> $40,300 <br /> TOTAL PROGRAM FUNDS $493,675 <br /> BE IT FURTHER RESOLVED, that the Manager is hereby designated as the <br /> authorized representative of the County to act in connection with the submission of this revision <br /> and to provide such additional information as may be required by the U.S. Department of Housing <br /> and Urban Development. <br /> This the 6th day of May 1998. <br />