Agenda - 06-29-1992 - Laserfiche WebLink

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I d 1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda � ACTION AGENDA ITEM ABSTRACT Item No. _Meeting.Date: June 29, 1992 SUBJECT: HOME Consortium Agreement /Program Design ---------------------------------- DEPARTMENT: Housing /Community Dev. PUBLIC HEARING YES: NO: x ----------------------------------- ATTACHMENT(S): Resolution INFORMATION CONTACT: Tara L. Fikes Key Elements of HOME Agreement HOME Consortium Agreement HOME Program Design TELEPHONE NUMBER - Hillsborough - 732 -8181 Chapel Hill - 968 -4501 Mebane - 227 -2031 Durham - 688 -7331 -------------------------------- PURPOSE: To approve the HOME Consortium Agreement with the accompanying resolution and the proposed HOME Program Design. BACKGROUND: On April 1, 1992, at the Assembly of Governments meeting, a presentation was made introducing the new HOME Investment Partnership Program and the potential benefits this program could provide County residents if we cooperatively pursued funding for the program from the State. The HOME Program was established under the National Affordable Housing Act of 1990 and provides funding for the purpose of developing affordable housing for persons of low and very low income. The State of North Carolina will receive $22 million dollars in HOME funding this year from the U.S. Department of Housing and Urban Development for distribution to local governments and non - profits. The State has established a Consortia HOME Program which will award $1 million dollars to approximately ten qualified consortia. Based on the level of capacity to administer housing programs, a staff working group with representation from all units of local government in the County propose the creation of a Orange County Consortium composed of Carrboro, Chapel Hill, Hillsborough and the County to participate in the State's HOME Consortia Program. In order to establish a consortium, all localities must agree to participate.