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r <br /> 1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> Action Agenda <br /> Item No VIM-g <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 19, 1995 <br /> SUBJECT: HOME Program - Development Agreement <br /> -------------------------------- ------------------------------- <br /> DEPARTMENT: Housing/Comm. Dev. PUBLIC HEARING YES NO —x- <br /> -------------------------------- ------------------------------- <br /> ATTACHMENT(S) : INFORMATION CONTACT <br /> Development Agreement Tara L. Fikes, x 2490 <br /> TE LE PHONE NUMBER <br /> Hillsborough 732-8181 <br /> Chapel Hill 968-4501 <br /> Mebane 227-2031 <br /> Durham 688-7331 <br /> ----------------------------------------------------------------------- <br /> PURPOSE: To approve the Development Agreement with the Orange <br /> Community Housing Corporation (OCHC) for the Carr Court HOME Program <br /> activity. <br /> BACKGROUND: In the 1995-96 Orange County HOME Program, approximately <br /> $162, 000 in HOME funds was designated for the acquisition of the two <br /> multifamily buildings (eight units total) in the Carr Court neighborhood <br /> in Carrboro. Plans have been made to renovate these apartments utilizing <br /> private financing. Developers of this project are Orange Community <br /> Housing Corporation (OCHC) and an interested local builder Arne Gray. <br /> Since the HOME funds will be expended by OCHC, Orange County as lead <br /> entity for the Consortium must enter into a legally enforceable agreement <br /> between the County and OCHC requiring OCHC to carry out the proposed <br /> activities in accordance with applicable HOME Program regulations. <br /> This document has been forwarded to the County Attorney for review. <br /> RECOMMENDATION: <br /> The Manager recommends approval of the Development Agreement with the <br /> Orange Community Housing Corporation for the Carr Court Project and <br /> authorize the Chair to sign the document on behalf of the Board upon <br /> approval by the County Attorney. <br />