Orange County NC Website
Browse       Search
5 <br />94 Durham County's financial contributions shall be off -set by grant funds and other <br />95 contributions as set forth in paragraph 4 below. <br />96 <br />97 B. The Ci of Durham's Contribution. The City of Durham agrees to provide the <br />98 following financial contribution to Durham County towards the Acquisition: <br />99 <br />100 $75,000 paid to Durham County in three payments. It is hereby acknowledged that the <br />101 County of Durham has received a payment in the amount of $35,000 from the City of <br />102 Durham towards the City's total contribution for the acquisition, and that the City has a <br />103 remaining contribution amount of $40,000 as of the date of this Agreement of which <br />104 $15,000 shall be paid before August 1, 2006 and $25,000 before August 1, 2007. <br />105 <br />106 The City of Durham's financial contributions shall be off -set by grant funds as set forth <br />107 in paragraph 4 below. <br />108 <br />109 C. Chanel Hill's Contribution. Chapel Hill agrees to provide the following financial <br />110 contribution to Durham County towards the Acquisition: <br />111 <br />112 $100,000 paid to Durham County in three equal payments of $33,333.33. It is hereby <br />113 acknowledged that the County of Durham has received a payment in the amount of <br />114 $33,333.33 from Chapel Hill towards the Town's total contribution for the acquisition, <br />115 and that Chapel Hill has a remaining contribution amount of $66,666.66 as of the date of <br />116 this Agreement of which $33,333.33 shall be paid before August 1, 2006 and $33,333,33 <br />117 before August 1, 2007. <br />118 <br />119 Chapel Hill's financial contributions shall be off -set by grant funds as set forth in <br />120 paragraph 4 below.. <br />121 <br />122 D. Orange County's Contribution. Orange County agrees to provide the following <br />123 financial contribution to Durham County towards the Acquisition: <br />124 <br />125 $200,000 paid to Durham County in three equal payments of $66,666.66. It is hereby <br />126 acknowledged that the County of Durham has received a payment in the amount of <br />127 $66,666,66 from Orange County towards their total contribution for the acquisition, The <br />128 remaining $133,333,33 shall be paid on or before each August I" thereafter with the last <br />129 payment being made on or before August 1, 2007, <br />130 <br />131 Orange County's financial contributions shall be off -set by grant funds as set forth in <br />132 paragraph 4 below. <br />133 <br />134 4. Private Contributions and Grant Funds. <br />135 <br />136 A. Private Contributions. <br />137 1. The Erwin Area Neighborhood Group ( "EANG "), a non - partisan community action <br />138 group of persons from more than 40 neighborhoods, has contributed $200,000 towards <br />139 the purchase price of the Property. The parties acknowledge and agree that the $200,000 <br />140 contributed by FANG shall be distributed solely to Durham County to further off -set <br />04 -05.06 3 of I 1 <br />