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5 <br /> consortium to access the funding brought to it in an amount that shall be <br /> determined by the State, and that the County and Towns shall be given <br /> ample opportunity to comment on and approve the distribution of all <br /> funding made available through the OHC. <br /> G. The County as Lead Entity will finance the costs of administering the <br /> HOME Program for OHC to the extent of appropriations. The County <br /> shall establish the HOME Investment Trust Fund as specified in 24 CFR <br /> Part 92.500, and will participate in the Cash Management Information <br /> System and other accounting and compliance procedures as required by <br /> HUD. <br /> H. If local matching funds are required by HUD, the County and Towns <br /> mutually agree that the matching funds shall be provided in accordance <br /> with the following formula: <br /> 1. Orange County --42% <br /> 2. Town of Carrboro -- 12% <br /> 3. Town of Chapel Hill -- 41% <br /> 4. Town of Hillsborough -- 5% <br /> I. HOME funds invested in affordable housing shall be repaid if the housing <br /> does not meet the affordability requirements of Section 92.252 and <br /> Section 92.254 of the Regulations or if the housing ceases to qualify as <br /> affordable housing before the period of affordability expires. If OHC is <br /> required by HUD, in accordance with Section 92.503 of the Regulations, <br /> to repay HOME funds awarded, the County and Towns agree that the <br /> payments will be made in accordance with the formula specified in <br /> Paragraph H of this Section. <br /> J. Any repayment of HOME funds, loans or other program income generated <br /> from funds received through the HOME Program, shall be returned to the <br /> HOME Investment Trust Fund established by the Lead Entity and <br /> reallocated by the OHC Program Council during the next HOME program <br /> design process following receipt of the repayments or other program <br /> income, to the extent allowed by the Regulations and Federal Program <br /> Requirements. <br /> K. The County and Towns agree to comply with all Regulations, Federal <br /> Program Requirements, and OHC HOME program design features and <br /> requirements. <br /> L. This Agreement shall be executed by the appropriate officers of the <br /> County and Towns pursuant to authority granted them by their governing <br /> bodies. <br />