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2 <br />for thereferenced propertieshavebeen paid and the homes were purchased and are occupied <br />by qualifying low-income families. <br />INCOME ELIGIBILITY <br />Family #Annual Family Size% of AMI * <br />Income <br />1$31,1704<50% <br />2$25,3344<50% <br />3$20,1513<50% <br />4$37,7486<50% <br />5$44,8794<80% <br />6$28,4647<50% <br />7$28,0803<50% <br />8$40,4797<50% <br />9$34,1112<80% <br />*Based on the 2014 HUD Area Median Income for Orange County (Durham-Chapel Hill Metro Area) <br />In addition to the above, there is a recorded Declaration of Restrictive Covenants stating that <br />the homes constructed by Habitat will remain affordable for a 99-year period. <br />FINANCIAL IMPACT: <br />During the County’s budget formulation, local non-profit affordable <br />housing providers have submitted estimates of the anticipated need for impact fee <br />reimbursements. The County has budgeted money for reimbursements based on these <br />estimates. This reimbursement process enables non-profits to pay impactfees without passing <br />the costs on to the prospective low income renters or homebuyers.Agencies benefiting from <br />such reimbursements include Habitat for Humanity, Community Home Trust and The Arc of <br />Orange. <br />The current balance in the FY2014-2015 Impact Fee Reimbursement budget is $167,284. An <br />expenditure of $97,007would leave a balance of $70,277. <br />RECOMMENDATION(S): <br />The Manager recommends that the Board approve the <br />reimbursement of impact fees for Habitat for Humanityin the amount of $97,007. <br /> <br />