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The creation and preservation of infrastructure, policies, programs and funding necessary <br /> for residents to provide shelter, food, clothing and medical care for themselves and their <br /> dependents. <br /> This initiative assists in providing affordable housing units to low-to-moderate income <br /> households. <br /> RECOMMENDATION(S): The Manager recommends the Board- <br /> 1) approve a revision authorizing Habitat for Humanity to provide deferred payment, zero <br /> interest second mortgages for nine (9) homes instead of ten (10) throughout Orange <br /> County as requested in Habitat's application for HOME funding for the FY 2014-2015 <br /> HOME Program Design; <br /> 2) approve, for both the FY 2014-2015 HOME Program Design and the FY 2015-2016 <br /> HOME Program Design, revisions for the use of HOME funds for the purchase of Habitat <br /> for Humanity homes by households with incomes that initially meet the 65% of Area <br /> Median Income (AMI) eligibility requirement, and subsequently have an increase in <br /> income during the construction period and prior to closing as long as the increase in <br /> income of the households do not exceed 80% of AMI as allowable under the HOME <br /> program. The maximum income amount allowable by the U.S. Department of Housing <br /> and Urban Development for HOME funded projects is 80% of AMI; <br /> 3) approve the attached markup versions of the two September 2015 revised resolutions <br /> and authorize the Chair to sign clean versions of the revised resolutions for the 2014- <br /> 2015 and 2015-2016 HOME Program Designs. <br />