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2 <br /> 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 <br /> Town of Hillsborough (hereinafter "Towns"), each being a general local <br /> governmental unit of the State of North Carolina, and is made pursuant to North <br /> Carolina Statutes, Article 20 of Chapter 160A. <br /> WHEREAS, County and Towns agree that it is desirable and in the interests of <br /> their citizens to secure approval by the federal government be considered as a <br /> consortium under the federal HOME Program operated by the U.S. Department <br /> of Housing and Urban Development as authorized under the HOME Investment <br /> Partnership Act, Title II of the Cranston-Gonzalez National Affordable Housing <br /> 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 <br /> incorporated herein by reference and made a part hereof, and the terms defined <br /> in this section have the 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 <br /> Community Development Programs as established in the Act and <br /> prepared and adopted by the County and Towns, as amended from time <br /> to time. The Plan describes the needs, resources, priorities and <br /> proposed activities to be undertaken with respect to HUD Programs, <br /> including the HOME Program. <br /> C. "Federal HOME Program" means a procedure established for the use of <br /> funds made available from HUD through the Act to carry out multi-year <br /> housing strategies through assistance to first-time homebuyers and <br /> existing homeowners, property acquisition, rehabilitation and new <br /> construction of housing, site improvements, tenant-based rental <br /> assistance, demolition, relocation expenses and other reasonable and <br /> necessary expenses related to the development of affordable housing. <br /> D. "HUD" means the United States Department of Housing and Urban <br /> Development. <br />