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3 <br /> Attachment 1 <br /> � 001110,1 <br /> 1 us <br /> 88 Vilcom Center Drive,Suite L110 <br /> 0 0 habitat <br /> Chapel Hill,NC 27514 <br /> P(919)932-7077,F (919)932-7079 <br /> 11 for an www.orangehabitat.org <br /> Orange Cuuny, NC, info @orangehabitat.org <br /> January 06, 2017 <br /> Dear Audrey and Renee, <br /> I am writing to request that Habitat be able to use a portion of our FY16-17 HOME funding for second <br /> mortgages for 8 homes in Northside that will close between April and September 2017. In Habitat's <br /> application for FY16-17 HOME funding, we requested second mortgage assistance for a total of 12 <br /> homes, 11 of them in Tinnin Woods in Efland, and 1 in Fairview. At the time of application for HOME <br /> funding last year,we were not sure about the number and location of homes we would be building in <br /> Northside this fiscal year, since we were still in the process of acquiring lots. Therefore, we decided to <br /> request funding for homes that would be built in the following fiscal year, since those lots were already <br /> secured. We also requested and received second mortgage assistance for some of the Northside lots <br /> through the Town of Chapel Hill's Affordable Housing Reserve Fund. However, because of the higher <br /> cost of land in Northside, and therefore higher sales price, we are in need of additional subsidy to make <br /> these homes affordable to our buyers. <br /> Attached are the addresses of the homes in Northside for which we would like to use FY 2016-17 HOME <br /> funding, and the approximate amount of funding for each. If this request is approved, we would use <br /> the balance of the FY 2016-17 HOME funding for two homes in the Fairview community in Hillsborough <br /> (one on 150 Faucette Mill Road, and the other on 535 Locust Road) and for two homes in Tinnin Woods <br /> that will be built in FY 2017-18. That would bring the total number of homes funded by the FY 16-17 <br /> HOME funds to twelve, which is the number of homes in the original application. <br /> I am also sending a corrected list of the homes that have closed or will close this fiscal year that will use <br /> the balance of our FY15-16 HOME funds,which totaled $100,455. As you know,the buyer of the <br /> property at 150 Faucette Mill Road in Hillsborough decided not to purchase the home just prior to <br /> closing, so we are currently marketing the home to find another qualified buyer. Since we are not sure <br /> when that home will sell, we will replace this home with one of the duplex units on Whitaker Street in <br /> Northside,which was one of the properties included in the original application for those funds. <br /> Assuming that you approve the change requested above,we will apply for second mortgage funding for <br /> the remaining 9 homes in Tinnin Woods, plus another home in Fairview, in this current round of HOME <br /> funding applications.These homes were included in our FY16-17 HOME application. Thus, if possible, I <br /> would need to know if this request can be approved in time to complete the application for HOME <br /> funding that is due at the end of this month. <br /> Thank you so much for considering this request. Please let me know if you have questions, or need <br /> additional information, as I am sure this is somewhat confusing. I look forward to hearing from you at <br /> your earliest convenience <br /> Sincerely, <br />