Agenda - 04-01-1992 - Laserfiche WebLink

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III. ONE -YEAR ACTION PLAN, October, 1991 through September, 1992 A. RESOURCES During this Federal fiscal year, participating jurisdictions intend to use the following resources for carrying out housing assistance activities: 1. CDBG Entitlement Funds (Town of Chapel Hill) in the amount of approximately $300,000. For FY 1991 -92, these funds are earmarked for: (1) rehabilitation and renovation of public housing; (2) off site improvements for the 24 new public housing units to be constructed in 1992. 2. A grant of $250,000 from the CDBG Small Cities Program has been requested to provide partial financing for 35 rental units for families in Hillsborough, sponsored by Orange Congregations in Mission with assistance from Orange Community Housing Corporation and M.B. Corporation, a private developer based in Raleigh. The project will also use Low Income Housing Tax Credits to lower rents to be affordable to families with incomes below 50% of the area median. This grant will leverage over $1,000,000 in private mortgage funds and equity raised through the sale of Low Income Housing Tax Credits. 3. Over $600,000 in Section 811 funds for housing for special needs populations have been requested through the Mental Health Association of North Carolina and its local chapter, with assistance from Orange Community Housing Corporation. Those funds, if awarded, would be used to construct 14 subsidized apartment units for persons with mental illness, and funds would also be available for rent subsidies for the residents. 4. Section 202 funds for 50 rental units for older adults have been requested by New Covenant United Church of Christ through their national organization, United Church Homes, to be located near the intersection of Smith Level Road and Culbreth Road. 5. Funds from the McKinney Act Transitional Housing for the Homeless Program will be applied for during this fiscal year by Orange Community Housing Corporation and the InterFaith Council for Social Service. A 6- to-9 unit project is proposed, using existing housing stock and including supportive services for the residents who will be trying to move from sheltered to independent living. The proposal was considered this year, but delayed due to competing uses of the potential matching fund from the Town of Chapel Hill. If the Town continues its practice of allocating $150,000 for low- income housing, matching funds may be requested from the Town for the transitional project. 6. $175,000 in CDBG Small Cities funds will be expended during this fiscal year to construct a public street in Chestnut Oaks, a 34 -unit development sponsored by Orange County Habitat for Humanity. The CDBG funds 37