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�Veo /.- 7- 1/ <br />ORANGE COUNTY HOUSING DEVELOPMENT GRANT PROGRAM AWARD <br />SUMMARY STATEMENT <br />JANUARY 7, 1991 <br />Background <br />On October 19, 1990, orange County submitted a Housing <br />Development Grant Application to the N.C. Department of <br />Economic and Community Development (ECD) requesting $175,000 <br />in Community Development Block Grant (CDBG) funds to be used <br />for road construction /paving in the Chestnut Oaks Habitat <br />subdivision. Recently, the County was notified of the <br />preliminary award of this Housing Development Community <br />Development Block Grant in the amount of $175,000 for the <br />Chestnut Oaks Project. A final award will be made after the <br />County addresses certain grant conditions within 90.days of <br />preliminary award. <br />ProZect_Summary <br />Specifically, Housing Development Grant funds will <br />provide funding to construct and pave the two roadways, <br />Gemena Drive and Habitat Circle, serving the Chestnut Oaks <br />subdivision. The County has committed $25,000 to assist in <br />this effort making a total of $200,000 available for this <br />activity. The N.C. Department of Transportation has agreed <br />preliminarily to perform actual.road construction and <br />paving. Chestnut Oaks is an 34 unit subdivision located in <br />the Bingham Township being developed by Habitat for Humanity <br />of Orange County, Inc. to provide homeownership opportunities <br />for low and moderate income persons. <br />Simultaneously, Habitat <br />homes in the subdivision <br />Five of these homes will be <br />funds and the remaining six <br />with local builders under <br />Hope" project. <br />Grant Conditions <br />has committed to building eleven <br />during the next 18 to.24 months. <br />entirely financed by Habitat <br />will be funded in cooperation <br />the auspices of the "Street of <br />The County has been notified that certain conditions <br />must be fulfilled and approved in order to execute a grant <br />agreement and make the award final. These conditions and a <br />brief statement regarding each follows. <br />1. "A legally enforceable agreement between the County and <br />Habitat for Humanity of Orange County that Habitat will <br />carry out the activities proposed for it in Orange <br />County's approved application." <br />* An agreement is being drafted and should be ready for <br />Board consideration in February. <br />1 <br />