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14 <br />RESOLUTION <br />Whereas, Orange County has received a FY 2005 Community <br />Development Block Grant (CDBG) Award for the Individual Development <br />Account Program in the amount of $50,000 from the N.C, Department of <br />Commerce on January 19, 2006; and <br />Whereas, these CDBG funds will be used to provide match funding for the <br />savings of a first-time homebuyer participating the local IDA Program at a 2:1 <br />ratio; and <br />Whereas, the Orange County Board of Commissioners approved the <br />execution of the Grant Agreement, Funding Approval; and Signatory Form and <br />Certification by the Chair of the Board on Febnaary 9, 2006; and <br />Whereas, throughout grant implementation, the N,C, Department of <br />Commerce will require the execution of additional documents including <br />administrative and pertormance contracts as required by the Grant Agreement <br />and Funding Approval approved by the BOCC, <br />NOW, THEREFORE, be it resolved, that the Orange County Board of <br />County Commissioners hereby authorize the Chair of the Board to execute all <br />documents required by the N.C. Department of Commerce -Division of <br />Community Assistance far the implementation of the FY 2005 Community <br />Development Block Grant Award for the Individual Development Account <br />Program, <br />This, the 9th day of February, 2006, <br />