Agenda - 05-04-2006-9a - Laserfiche WebLink

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-5 Proposed Activities and Proposed Projects HOME Program Activities and Projects 1, Property Acquisition: $100,027 The following projects are proposed for funding. $100,027 to the Chrysalis Foundation to acquire property for a permanent supportive housing project, The Foundation proposes to develop a project that focuses on serving the homeless in Orange Ccunty, with specific emphasis on addressing chronic homelessness. 2, Second Mortgage Assistance: $279,000 Funds will be allocated to the following agencies for second mortgage assistance: $159,000 to EmPOWERment Incorporated to provide second mortgages to eight first time homebuyers earning less than 80% of the area median income. $120,000 to the Orange Community Housing and Land Trust for downpayment assistance for up to 12 newly constructed townhomes in the Waterstone. Eligible families would be first-time homebuyers with incomes below 80% of median income. 3. New Construction infrastructure Development): $490,000 • $250,000 will be allocated to Habitat for Humanity far infrastructure development of Phase II of the Rusch Hollow project located on Rusch Road in the Rogers Road community, Habitat would build at least twenty single-family homes on this property that would be sold to first time homebuyers earning Tess than 60% of the area median income, • $240,000 will be allocated to Habitat for Humanity for infrastructure development of Highland Woods subdivision in Northern Fairview Community in Hillsborough. Habitat would build at least 12 single-family homes on this property that would be sold to first time homebuyers earning less than 60% of the area median income, 4. Operational Support $15.000 $15,000 will be allocated to Orange Community Housing and Land Trust for administrative expenses related to its HOME Program funded projects, As a designated Community Housing Development Organization for the HOME Program, the Land Trust is eligible to receive funds far administration of a housing program. 5. Administration: $66.566 The remaining $66,566 would be allocated to the Orange County Housing and Community Development Department for administration of the HOME program. [12]