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26 <br /> Affordable Housing Program <br /> Capital Project Ordinance <br /> Be it ordained by the Orange County Board of County Commissioners that pursuant to Section 13.2 <br /> of Chapter 159 of the General Statutes of North Carolina, the following capital project is hereby <br /> adopted. <br /> Section 1. The project authorized provides funds to fund housing activities in the following categories: <br /> land acquisition; housing development; and homeownership. The project is financed by <br /> proceeds from the 1997 voter approved bond referendum and from Housing Trust funds. <br /> Section 2. The officers of the County are hereby directed to proceed with the project within the budget <br /> contained herein. <br /> Section 3. The following revenue is anticipated to complete this project: <br /> Through FY Through FY <br /> 2000-01 FY 2001-02 2001-02 <br /> Sales Tax $0 $0 $0 <br /> Bond Funds $690,000. $625,000 $1,315,000 <br /> Private Placement $0 $0 $0 <br /> Fees $0 $0 $0 <br /> Housing Trust Funds $0 $50,000 $50,000 <br /> Total Funding $690,000 $675,000 $1,365 000 <br /> Section 4. The following amount is appropriated for this project: <br /> Through FY Through FY <br /> 2000-01 FY 2001-02 2001-02 <br /> Land <br /> EmPOWERment $90,000 $0 $90,000 <br /> Habitat for Humanity $460,000 $0 $460,000 <br /> Total Land $550,000 $0 $550,000 <br /> Design $0 $0 $0 <br /> Construction $0 $0 <br /> Scarlett Drive $140,000 $0 $140,000 <br /> Meadowmont <br /> Condominiums $0 $400,000 $400,000 <br /> Continuing Care Center $0 $275,000 $275,000 <br /> Total Construction $140,000 $675,000 $815,000 <br /> Other $0 $0 $0 <br /> Total Costs $690,000 $675,000 $1 65 000 <br /> Section 5. This ordinance supersedes previous Affordable Housing Capital Project Ordinances for <br /> Orange County Government. <br /> Section 6. This ordinance shall remain in effect until June 30, 2002. <br /> Adopted this 5"'day of February 2002. <br />