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i <br /> E' <br /> 2 <br /> The grant will fund the purchase and renovation costs minus 15 percent. This is <br /> expected to result in a mortgage debt of $15,000 to $20,000. The residents of the Oxford <br /> House, who are required to be employed, will support the monthly mortgage payments, <br /> taxes, utilities, insurance and other operating costs with their rent payments. According <br /> to Oxford House, Inc. the average range for rent is 45.00 to $70.00 per week. (See <br /> Attachment IV) <br /> There will be no budgetary impact to the County. OPC Mental Health Center will hold <br /> title to the property and will use rental income from the residents to pay the mortgage <br /> debt and other associated costs. However, as a condition of the grant award, all Boards <br /> of County Commissioners must have approved the purchase of the property by the area <br /> authority. <br /> The Resolution, (Attachment V), will allow OPC Mental Health to proceed with the <br /> purchase and renovations to the property. <br /> RECOIVIMENDATION(S): The Manager recommends that the Board approve the <br /> Resolution and authorize the chair to sign. <br />