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1 5 <br /> II D. Location of Project <br /> The proposed project is located in the Bingham Township of <br /> Orange County just west of the Town of Carrboro . The site is <br /> II adjacent to the FY 83 Community Revitalization Project in the <br /> Chapel Hill Township . (See Location Map ) The 72 acre tract is <br /> relatively flat with virtually no access to public facilities. <br /> II Habitat has submitted subdivision plens to the Orange County <br /> Planning Board . Based on a recent appraisal , conducted using <br /> the comparable sales method , the 72 acre site is valued at <br /> 5213,000. <br /> II <br /> E. Service Area of the Project <br /> IISince Orange County Habitat serves the entire Orange County <br /> community, the proposed subdivision will service all Orange <br /> II County residents. Based on information received from housing <br /> providers in the County, there exists an extremely high demand <br /> for low and moderate income housing . This observation is based <br /> on knowledge of waiting lists for conventional public housing <br /> 11 (See Attachment __ ) ; FmHa assisted housing (See Attachment ___) ; <br /> and HUD Section 8 Existing Housing Assistance Payments Program <br /> (See -Attachment ___) . The local Board of Realtors and members of <br /> the local Homebuilders Association all agree that housing units <br /> in the less than $50,000 - $60,000 range sales are almost <br /> non-existent in the Orange County housing market . This sales <br /> range is comparable to the Fair Market Sales Price of a Habitat <br /> home if sold in the private market . . <br /> IIF. Intended Beneficiaries <br /> The requested CDBG funds and all other funds associated <br /> II with the proposed project , are intended to benefit low and <br /> moderate income residents of Orange County. Based on Habitat ' s <br /> Commitment to building four ( 4 ) houses during an 18 - 24 month <br /> II period and local Habitat data ( the average size of a two (2) <br /> bedroom household is three (3) and the average three bedroom <br /> household size if five (5) persons) , the project is expected to <br /> benefit 18 persons. All 18 persons will be low and moderate <br /> I/ income as per NRCD published income limits. Additionally, Habitat <br /> has incorporated in its program specific features which insure <br /> that all initial and future homeowners will be low and moderate <br /> II income persons. <br /> 11 <br /> I <br /> I <br /> II <br />