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PV <br /> �h. <br /> Orange County <br /> Assistance Policy <br /> For the 2017 Cycle of the <br /> Essential Single-Family Rehabilitation Loan Pool <br /> What is the Essential Single-Family Rehabilitation Loan Pool? <br /> Orange County has been awarded Membership by the North Carolina Housing <br /> Finance Agency ("NCHFA") under the 2017 cycle of the Essential Single-Family <br /> Rehabilitation Loan Pool ("ESFRLP17"). This program provides Members with funds <br /> via a "loan pool" to assist with the rehabilitation of moderately deteriorated homes <br /> that are owned and occupied by lower-income, special need households. ESRLP17 <br /> assists eligible households by facilitating aging in place, meeting minimum housing <br /> code requirements, promoting long-term affordability, lowering operating costs, and <br /> stabilizing pre-1978 homes that include children aged 6 or under whose health is <br /> threatened by the presence of lead hazards. <br /> Orange County has been allocated an initial set-aside of$175,000 which it plans to <br /> apply toward the rehabilitation of five houses in Orange County. After demonstrating <br /> successful use of the initial set-aside, the County may access additional funds, when <br /> available, on a unit-by-unit basis from the ESFRLP17 loan pool. <br /> This Assistance Policy describes who is eligible for assistance under ESFRLP17, <br /> how applications for assistance will be ranked, what the terms of assistance are, and <br /> how the rehabilitation process will be managed. Orange County has designed the <br /> ESFRLP17 project to be fair, open and consistent with its approved application for <br /> funding and with ESFRLP17 Program Guidelines. <br /> The funds provided by NCHFA come from the US Department of Housing and Urban <br /> Development's (HUD) Federal HOME Investment Partnerships Program. Assistance <br /> for construction-related costs (hard costs) will be provided as no interest, no payment <br /> loans which are forgiven at the rate of$3,000 per year. Non-construction-related <br /> costs (soft costs including lead/asbestos inspections/clearances, radon testing and <br /> environmental reviews) will be provided in the form of a grant. <br /> Who is Eligible to Apply? <br /> There are three major requirements to be eligible for ESFRLP17 assistance: <br /> 1) The housing unit to be rehabilitated with ESFRLP funds must be located in <br /> Orange County, and must be owner-occupied. The household occupying the unit <br /> must have an elderly, disabled and/or veteran (see definitions) fulltime household <br /> member or a child aged 6 or under if there are lead hazards in the home; <br /> 2) The gross annual household income must not exceed 80% of the Area Median <br /> Income for the County (see income limit table on the following page) and; <br /> 3) The cost of rehabilitation cannot exceed the ESFRLP17 Program limit of$25,000 <br /> and must include all Essential Rehabilitation Criteria as described in the <br /> ESFRLP17 Administrator's Manual (available online at www.NCHFA.com). <br /> Unfortunately, not all homes can be rehabilitated to meet the Essential Rehabilitation <br /> Criteria with the limited funding available. Some otherwise-eligible households may <br /> be deemed ineligible for assistance because their homes fail this test. <br />