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H <br />3 1 <br />NORTH CAROLINA <br />ORANGE COUNTY <br />Orange HOME Consortium <br />HOME Investment Partnership Program Consortium Agreement <br />THIS AGREEMENT made and entered into by and among the County of Orange <br />(hereinafter "County "), the Town of Carrboro, the Town of Chapel Hill, and the Town of <br />Hillsborough (hereinafter "Towns "), each being a general local governmental unit of the <br />State of North Carolina, and is made pursuant to North Carolina Statutes, Article 20 of <br />Chapter 160A. <br />WHEREAS, County and Towns agree that It is desirable and in the interests of their <br />citizens to secure approval of the State of North Carolina as a State Consortium as <br />described in the State's HOME Program Design and authorized under the HOME <br />Investment Partnership Act, Title II of the Cranston- Gonzalez National Affordable Housing <br />Act of 1990, as amended (hereinafter "the Act "); <br />NOW, THEREFORE, the County and Towns agree as follows: <br />Section I. Definitions. <br />The definitions contained in 24 CFR Part 92, Subpart A, paragraph 92.2 are incorporated <br />herein by reference and made a part hereof, and the terms defined in this section have <br />the following meanings given them: <br />A. "Act" means Title II of the Cranston - Gonzalez National Affordable Housing Act <br />(Pub. L. 101 -625), (42 U.S.C. 3535(d.) et. M.). <br />B. "CHAS" means the Comprehensive Housing Affordability Strategy as established <br />in the Act and prepared and adopted by the County and Towns, as amended from <br />time to time. <br />C. "Federal HOME Program" means a procedure established for the use of funds <br />made available from HUD through the Act to carry out multi -year housing <br />strategies through assistance to first -time home buyers and existing home owners, <br />property acquisition, rehabilitation and new construction of housing, site <br />improvements, tenant -based rental assistance, demolition, relocation expenses and <br />other reasonable and necessary expenses related to the development of <br />affordable housing. <br />D. "HUD" means the United States Department of Housing and Urban Development. <br />E. "Regulations" means 24 CFR Part 92 Home Investment in Affordable Housing <br />Implementing Regulations as issued by HUD. <br />F. "State" means the Division of Community Assistance, Department of Economic and <br />Community Development of the State of North Carolina, or any other agency of the <br />State of North Carolina designated to administer the Federal HOME Program. <br />