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6 <br /> ANNUAL PLAN, July 1, 1995 through June 30, 1996 <br /> For HOME Investment Partnerships Program <br /> A. Affordable Housing <br /> Priority LA: Provide rehabilitation assistance for very low and <br /> low income homeowners and rental housing serving very low and low <br /> income tenants. <br /> Priority 1B: To reduce the number of owner-occupied and rental <br /> housing units without indoor plumbing. <br /> Investment Plan <br /> 1 . Funds will provide deferred loans to rehabilitate low-income <br /> owner-occupied and rental housing units . Homeowners with less <br /> than 60% of the median income would be eligible for these <br /> loans. <br /> 2 . Fund the Elliott Woods/Chase Park site improvement request <br /> from the Inter-Church Council Housing Corporation. <br /> Funds Available: $350,000 <br /> Source of Funds: HOME Investment Partnership Programs <br /> Priority 1D: Facilitate the construction of new or substantially <br /> rehabilitated housing units that are affordable to families below <br /> SO% of the area median. Projects that provide homeownership <br /> opportunities for families below 60% of the area median income. <br /> Investment Plan <br /> Providing funding for the acquisition of eight units in the Carr <br /> Court neighborhood in Carrboro. These units would then be <br /> rehabilitated using . funds from several sources including local <br /> banks and sold to low income households. <br /> Funds Available: $162,500 <br /> Source of Funds: HOME Investment Partnership Programs <br /> B. Homeless Needs <br /> Priority 2A: Create transitional housing units for shelter <br /> residents who can live independently. <br /> Investment Plan <br /> Assist the Inter-Faith Council with the construction of their <br /> transitional housing project - Project Home Start. Project Home <br />