Orange County NC Website
Browse       Search
024 <br /> to carry out a wide range of community development activities <br /> directed toward neighborhood revitalization, economic development, <br /> and improved community facilities and services. This program is <br /> available to citizens of Orange County (excluding Chapel Hill) and <br /> the Towns of Carrboro and Hillsborough. <br /> ii. Local Programs <br /> The Town of Chapel Hill Housing Loan Trust Fund Local funds are <br /> allocated to assist low- and moderate-income persons with <br /> homeownership opportunities. This fund was established in 1973 by <br /> the Town Council to assist low- and moderate- income persons by <br /> providing funds for homeownership opportunities and housing <br /> rehabilitation. The fund also provides for interest subsidies to <br /> reduce current market interest rates. <br /> ii. Private Resources <br /> Many commercial banks have responded to the Community <br /> Reinvestment Act with programs to finance decent, safe, affordable <br /> housing. Banks in Orange County with such programs include <br /> Wachovia, Nationsbank, Central Carolina Bank, First Union National <br /> Bank, BB & T, Centura Bank and First Citizens Bank. These special <br /> lending programs are targeted to households that do not qualify for <br /> the lenders ' regular programs and may have rates slightly lower <br /> than conventional rates, lower down payment requirements or special <br /> underwriting treatment. These funds are targeted county-wide. <br /> Additionally, several non-profit agencies in the County are <br /> resources in quest to increase housing affordabilty and <br /> availability. These include: Orange Community Housing Corporation; <br /> Habitat for Humanity of Orange County; Joint Orange Chatham <br /> Community Action Agency; and the Hillsborough Affordable Housing <br /> Corporation. <br /> 21 <br />