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MEMORANDUM OF UNDERSTANDING 047 <br /> RENTAL REHABILITATION PROGRAM <br /> 1985 <br /> This Memorandum of Understanding (hereinafter referred to as the <br /> "Agreement") is between the Town of Chapel Hill (hereinafter referred to as <br /> the "City"), the Orange County Housing and Community Development Department <br /> Housing Authority (hereinafter referred to as the "PHA") and the North <br /> Carolina Housing Finance Agency (hereinafter referred to as "NCHFA") . This <br /> Agreement sets forth the obligations of the parties in conducting the <br /> Rental Rehabilitation Program (hereinafter referred to as the "Program") <br /> having the primary goals described in the Notice entitled "Rental <br /> Rehabilitation Program; interim rule" published in Volume 49 No. 78 of the <br /> "Federal Register" at pages 16936 - 16957 April 20, 1984 (hereinafter <br /> referred to as the "Notice") . <br /> WHEREAS, the NCHFA is currently administering the Rental Rehabilitation <br /> Program for small cities in North Carolina; and <br /> WHEREAS, the United States Department of Housing and Urban Development (HUD) <br /> on February 18, 1985 submitted to the NCHFA notification of approval of the <br /> Program Description and the award of x1,353,000 in Rental Rehabilitation <br /> Program grant funds and an accompanying 271 Section 8 Housing Assistance <br /> Vouchers; and <br /> WHEREAS, the City submitted an application to the NCHFA requesting <br /> determination of eligibility to participate in the Program; and <br /> WHEREAS, the local needs analysis or existing Housing Assistance Plan of the <br /> City supports the increased allocation of 15 units for the Section 8 <br /> Existing Housing Assistance Payments Program as evidenced in Exhibit A, <br /> which is hereto attached; and <br /> WHEREAS, the NCHFA has awarded to the City a Fiscal Year 1985 Rental <br /> Rehabilitation Program Fund Reservation in the amount of $75,000 and, upon <br /> availability, the use of 15 Section 8 Existing Housing Assistance; and <br /> WHEREAS, the PHA administers the Section 8 _Housing Assistance Payments <br /> Program for the City; and <br /> WHEREAS, the City has the administrative and legal capacity to locally <br /> administer the Program. <br /> NOW, THEREFORE, all parties hereby agree as follows: <br /> 1. Com liance with Federal Re ister Notice. The parties hereto agree <br /> to carry out the Rental Rehabilitation Program in a manner which <br /> conforms with the provisions of the Notice and all other applicable <br /> Federal and State laws. <br />