Orange County NC Website
Browse       Search
1.0 <br />b) Home - ownership counseling shall be made available to <br />first -time buyers to provide information on such topics <br />as insurance and maintenance. The counseling shall be <br />provided by the Department of Housing and Community <br />Development. <br />7,14.4.6 of Pro ert to Oran a Count <br />Land donated to Orange County pursuant to Article 7.4.14.2.d <br />to enable a developer to obtain a density bonus shall be <br />donated in trust for the purpose of the development of <br />affordable housing. An agreement between the developer and <br />Orange County and the instruments of conveyance shall insure <br />this trust as determined by the County Attorney. <br />ARTICLE 22 DEFINITIONS <br />Family Income (new) - The gross annual sum of all income <br />received by all adult members of the household, including <br />- earned income from wages for all family members over <br />the age of 18: <br />- income from assets: <br />- child support, alimony, Welfare payments, Social <br />Security payments, including SSI, Worker's Compensation <br />and Unemployment benefits; <br />- Regular contributions and gifts; <br />- Income from a business; <br />- earned income tax credits; <br />- lump sum payments such as inheritance, insurance <br />settlements, and proceeds from sale of property; and <br />- income from absent military personnel who are <br />considered family members of the household. <br />Net Assets (new) - The equity value of real property such <br />as land, buildings, Certificates of Deposit, Checking and <br />Savings accounts, money market accounts, stocks, bonds, <br />cash, IRA of KEOUGH accounts, gold or precious metals, and <br />business equipment. <br />Family or personal assets such as furniture, automobiles, <br />wheelchairs or other special equipment, household goods, <br />boats and recreational vehicles are not included. <br />