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3 <br /> Habitat for Humanity <br /> 111irrOrange County,North Carolina,Inc. <br /> January 30, 1995 Received <br /> Mr. John Link <br /> County Manager Mar►agrs �t�'` <br /> Orange County <br /> P.O. Box 8181 <br /> Hillsborough, NC 27278 <br /> Dear Mr. Link: <br /> In a letter to you dated June 13, 1994, I outlined a request from Habitat for Humanity <br /> of Orange County for $13,000.00, the remaining balance of the funds which Habitat used to <br /> fund the road construction in the Chestnut Oaks Subdivision. Habitat would use these funds <br /> to construct a gravel road in the minor subdivision which we are now developing in Cheeks <br /> Township in the Perry Hills community. Habitat will build five new single family homes for <br /> low income families over the next two years on this eleven acre tract. <br /> Subsequent to my sending you the June 13, 1994 letter, I have had several <br /> conversations with Tara Fikes in which we explored the possibility of applying for new <br /> Community Development Block Grant funds to cover the cost of developing the road. We <br /> met on January 19, 1995 with Pam Wilson in the Division of Community Assistance to <br /> discuss applying for funds through their Housing Development program. Following this <br /> meeting, it became clear to me that because of the timing of the availability of those funds <br /> and because of some of the other requirements that the program would impose upon Habitat, <br /> Habitat would not be able to pursue new CDBG funds for this project. After discussing this <br /> conclusion with Ms. Fikes, we both agreed that Habitat should reinstate our request to use <br /> for this project the $13,000 set aside by the County to help develop affordable housing. <br /> I have enclosed a detailed Sources and Uses of Funds Statement for the entire <br /> project, including the construction of five homes. In addition to the proposed $13,000 from <br /> the County to help pay the cost of paving the road, $37,500 will come from the Federal <br /> Home Loan Bank's Affordable Housing Program, through Hillsborough Savings Bank. The <br /> remainder has already come or will come from Habitat for Humanity ( from our Land Fund; <br /> from our Partnership program in which churches, businesses, etc. sponsor a Habitat house by <br /> providing the funds and the labor to build it; and from our general operating budget.) The <br /> total estimated cost for building the road is $16,450. With the County providing $13,000 of <br /> that cost, Habitat will be able to cover the difference of $3,450 from its 1994-95 general <br /> operating funds. <br /> 200 Davis Road ♦ Hillsborough, North Carolina 27278 ♦ 919-732-6767 <br />