Agenda - 12-15-2015 - 5b - Orange County Consolidated Plan - Annual Action Plan Needs Hearing

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3 ATTACHMENT 1 Consolidated Plan Orange County HOME Consortium, NC Annual Action Plan Update FY 2016-2017 The Orange County, North Carolina, HOME Consortium is an entitlement community under the U.S. Department of Housing & Urban Development's (HUD) HOME Investment Partnerships Program (HOME). Under the HOME Program, local governments are able to join together to form a consortium in order to receive HOME funding for affordable housing.The Orange County HOME Consortium is made up of four members: Orange County, the Town of Carrboro, the Town of Chapel Hill, and the Town of Hillsborough.The Town of Chapel Hill also receives federal Community Development Block Grant (CDBG)funding each year. Orange County is the Participating Jurisdiction (PJ)for the HOME Consortium. The primary purpose of the HOME Program is to increase the supply of affordable housing. Participating jurisdictions have the opportunity to identify and choose the housing activities that best meet local housing needs.To ensure HOME assisted housing increases the supply of affordable housing, an affordability period on assisted properties and income limits are required for eligible households. The Federal Fiscal Year begins October 1st and ends September 30th of each year.The Orange County Fiscal Year begins July 1st and ends June 30th of each year. The Five Year Consolidated Plan is FFY 2015-2020 as required by HUD to receive HOME funding. Orange County is also the lead entity in the preparation and submission of the Five Year Consolidated Plan and Annual Action Plans for each of the five years, a federal HOME and CDBG requirement to receive funding under the Programs.The Orange County HOME Consortium is receiving $311,832 from HOME funds for the FFY 2015program year.This is a reduction from $351,540 in FFY 2014 and a substantial reduction from$728,277 in FFY 2010, the start of the previous five year planning period.