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042 <br /> B. PRIORITY ANALYSIS AND STRATEGY DEVELOPMENT. <br /> Priority: Facilitate the construction of up to 50 new units of <br /> rental housing affordable to very low and low income families. The <br /> Chapel Hill Comprehensive Plan states a goal of 35 new rental units <br /> each year affordable to very low and low income families. Priority <br /> will be given to projects with projected rents at or below those <br /> established for the Low Income Housing Tax Program, affordable to <br /> families with incomes below 60% of the area median, with at least <br /> three bedrooms. <br /> Analysis: There are a total of 9,932 very low-income households in <br /> Orange County earning from 0 to 50% of the area median family <br /> income ($0 - $20,800) . Very low-income renters are often forced to <br /> live in substandard housing due to the lack of affordable housing <br /> options in Orange County. Approximately 86% of households in the <br /> very low-income group reported having some housing problems.' An <br /> estimated 97% of large families in Orange County, and 91% in Chapel <br /> Hill experienced housing problems which can be attributed to the <br /> fact that many large, very low-income households, cannot afford <br /> the rental prices for an adequately sized unit, and are therefore <br /> forced to live in an overcrowded, substandard unit. <br /> Strategy/Investment Plan: Meeting this goal will require <br /> substantial local, state, and federal investment. The following <br /> programs and resources will be pursued over the next five years in <br /> order to meet this goal. <br /> A. Federal: HOME <br /> Single Room Occupancy (SRO) Programs <br /> B. State: N.C. Housing Trust Fund <br /> Small Cities CDBG Program <br /> Low Income Housing Tax Credits <br /> C. Local: Chapel Hill Housing Trust Fund <br /> D. Other: Federal Home Loan Bank Board <br /> Orange Community Housing Corporation <br /> Hillsborough Affordable Housing Corporation <br /> All local governments in Orange County will generally support <br /> applications for these programs and resources from eligible non- <br /> profits and other entities when funding becomes available. When <br /> necessary, the resident unit of local government will take the lead <br /> and apply directly for the funding. <br /> 6 A housing problem is defined as a household living in a unit: (1) which meets <br /> the definitions of physical defects, (2) that meets the definition of overcrowded, and (3) <br /> meet the definition of a cost burden greater than 30% of gross income. <br /> 33 <br />