Orange County NC Website
Browse       Search
M <br />r <br />Jr <br />North Carolina <br />DeP artment of Economic and Community <br />JamtS G. l`larhill Secretary <br />James T. Broy <br />December 22+ 1989 <br />The Honorable Moses Carey, Jr•+ Chairman <br />Orange County Board of Commissioners <br />P. 0. Box 8181 <br />Hillsborough, North Carolina 27278 <br />u e,7= a II <br />Development <br />J Hobert B. Chandler, Director <br />DISTRIBUTED <br />Dear Chairman Carey: Development <br />Congratulations on Orange <br />County's preliminary Com�nity _ <br />t (CDBG) award to assist the construction appllcationboftJune provide <br />Block Gran project_ Based on the county <br />Affordable Housing <br />the preliminary <br />award totals $2,250,000 and will be used to prow <br />1989, p <br />construction financing• that a rant agreement may be issued <br />For the awa�hrtai�econditio•ns mu <br />le fulfilled. <br />for the project* <br />1. An acceptable irrevocab th thetprojectr developer hmust ube <br />securing the CDBG loan <br />approved by DCA; <br />The county must provide an asonlanbe that de in response to <br />2• will <br />CDBG construction funds and that the costs <br />actual Pied documented <br />by thep county on a regular basis; <br />be verified by ro ect, <br />g, Since the town of Chapel Rill is participating in the p j <br />must agree with the town on re that <br />the county arsons of <br />administering the deed of trust restrictioUnitsaforup <br />the long term availability of the housing <br />low_ and moderate- income; <br />Project Source and Use Form must be modified to show costs <br />that will be paid from Program 4. The �Oj ro ram income; <br />Commitmen ts must be obtained for funding of Permanent mortgages <br />S• equals <br />the amount needed for sale of all units; <br />that at least eq <br />Division of Community Assistance Carolina 27605 <br />Suite 270,1307 Glenwood Avenue, Raleir <br />Telephone 919 - 733.2850 • FAX 919. 733.5262 <br />An E4uA1 OM,rrunrry I Amrmutivc Acn"In Emrl"vcr <br />