Agenda - 03-15-1994 - VIII-C - Laserfiche WebLink

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1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda Item No. Mc.. ACTION AGENDA ITEM ABSTRACT Meeting Date: March 15, 1994 SUBJECT: Magnolia Place Housing Development Program/Development Agreement ------------------------------- ---------------------------------- DEPARTMENT: Housing and Comm. Dev. PUBLIC HEARING YES: NO: x ------------------------------- ---------------------------------- ATTACHMENT(S) : INFORMATION CONTACT: Tara L. Fikes Development Agreement TELEPHONE NUMBER- Hillsborough - 732-8181 Chapel Hill - 968-4501 Mebane - 227-2031 Durham - 688-7331 ----------------------------------------------------------------------- PURPOSE: To approve the Development Agreement with the Orange Community Housing Corporation for the Magnolia Place Housing Project and authorize the Chair to sign this document and other documents required for this project upon approval by the County Attorney. BACKGROUND: In February 1994 the County received a preliminary award of $250,000 in Community Development funds to assist the Orange Community Housing Corporation (OCHC) with the construction of a 42 unit single family subdivision known as Magnolia Place. In order to make the award final and receive funds, certain conditions must be fulfilled. These conditions are: 1. A legally enforceable agreement between the County and the Orange Community Housing Corporation. 2 . Documentation that all non-CDBG funds necessary to complete the project are committed. 3. Revised Project Budget, Benefit Schedule forms that target the use of CDBG assistance to no more than 20 units. 4 . Submission of an approvable schedule for completion of activities for benefit accomplishments and drawdown of funds for the 1991 Housing Development Grant for Whitted Forest. Staff has addressed all of the above conditions with the exception of number one above. This agreement has been drafted and needs the approval of the Board upon approval by the County Attorney. Approval of this agreement will allow the County to receive final grant award and thereby allow the project to proceed in a timely manner. After final grant award there will be additional documents requiring the signature of the Chief Elected Official of the County. Authorization by the Board of Commissioners to allow the Chair to execute required documents related to the Magnolia Place Housing Development Grant Program based upon the County Attorney's review and approval will assist in the timely implementation of this grant program. RECOMMENDATION(S) : The Manager recommends approval of the Development Agreement with the Orange Community Housing Corporation for the Magnolia Place Housing Project and authorizing the Chair to sign this document and other documents required for this project upon approval by the County Attorney.