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2016-340 Housing - Habitat for Humanity for FY 2014 HOME Funds
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2016-340 Housing - Habitat for Humanity for FY 2014 HOME Funds
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Last modified
8/9/2016 11:49:40 AM
Creation date
7/15/2016 8:01:15 AM
Metadata
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Template:
BOCC
Date
7/14/2016
Meeting Type
Work Session
Document Type
Agreement
Agenda Item
Manager signed
Amount
$250,000.00
Document Relationships
R 2016-340 Housing - Habitat for Humanity for FY 2014 HOME Funds
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\Board of County Commissioners\Contracts and Agreements\Contract Routing Sheets\Routing Sheets\2016
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Exhibit B <br /> PROPOSED BUDGET <br /> Budget For Construction of Nine (9)Homes <br /> In the Northside Neighborhood of Chapel Hill,the Fairview Community in Hillsborough <br /> and Tinnin Woods Subdivision in Efland <br /> Proposed Uses of Funds <br /> Construction of 9 homes @ $87,495 per home <br /> Total Uses of Funds $ 787,457 <br /> Proposed Sources of Funds <br /> Habitat for Humanity Fundraising <br /> Habitat for Humanity Partnerships (9 @ $50,000 each) 450,000 <br /> Orange County HOME funds (second mortgages) 250,000 <br /> Habitat for Humanity Program income from Mortgage <br /> Payments 36,850 <br /> Orange County-reimbursement for impact fees <br /> (9 @ $5,623.00) 50,607 <br /> Total Sources of Funds $ 787,457 <br /> SOURCE OF FUNDS <br /> Orange County HOME Funds $250,000 <br /> Habitat may not request disbursement of funds under this Agreement until the funds are needed <br /> for payment of eligible costs. The amount of each request must be limited to eligible costs as <br /> determined by the County's Housing, Human Rights and Community Development Department <br /> ("OCHHRCD"). <br /> Funds may be shifted between line items of the Project without prior approval of the County only <br /> to the extent of"Minor Adjustments," defined as actions which do not result in a change in the <br /> Project and so long as such Minor Adjustments do not exceed ten percent (10%) of the line item <br /> total from which the funds are being removed or to which the funds are being added, there is no <br /> increase to the Total Renovation Cost specified in the above budget, and there are only minor <br /> changes to the Plans and Specifications. <br /> 13 <br />
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