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n <br />G. "State CHAS" means the Comprehensive Housing Affordability Strategy as <br />established in the Act and prepared by the State and submitted to and approved <br />by HUD, as amended from time to time. <br />H. "State Consortium" means a consortium of units of general local governments <br />bound by the terms of .a HOME Investment Partnership Act Consortium Agreement <br />for the purpose of participating in the State Home Program and receiving funds <br />as authorized under the State Program Regulations. <br />I. "State Program Requirements" means documents issued by the State of North <br />Carolina describing the regulations and requirements of the HOME Program in <br />order for funds to be awarded by the State to participating jurisdictions as <br />authorized in the Act. <br />Section II. Purpose. <br />This Agreement is to form a Consortium of units of general local government within <br />Orange County for designation as a State Consortium under the Act and the State <br />Program Requirements, said Consortium to be known and hereinafter may be referred <br />to as Orange HOME Consortium (hereinafter "OHC"). <br />Section III. Agreement. <br />A. The term of this Agreement begins with the effective date of , <br />1992. Subject to the requirements of Paragraph D, the County and Towns agree <br />that the terms of this Agreement cover the period necessary to carry out all <br />activities that will be funded from funds awarded during three federal fiscal years <br />and that all members of OHC will remain in OHC for the entire period. After the <br />initial period this Agreement shall expire, and the members of OHC may choose <br />to continue as a State Consortium or may notify the State of its intent to <br />discontinue submission of program applications of State Consortium funding and <br />dissolve. <br />B. The OHC Program Council is hereby created and is authorized to provide policy <br />oversight for planning, operations, and evaluation of OHC and the HOME program. <br />The Manager or his /her designee from each participating unit of local government <br />shall be members. The OHC Program Council shall prepare a proposed HOME <br />program design and consortium program application to the State, in compliance <br />with the Act, the Regulations, and the State Program Requirements, each year, <br />including reallocation of any funds from previous years not expended or any <br />repayments or other program income consistent with this Section. The proposed <br />HOME program design and consortium program application shall be consistent <br />with the CHAS and the State CHAS and shall be subject to the approval of each <br />consortium member's elected board each year. The proposed HOME program <br />design will define a strategy in sufficient detail to accommodate the collective and <br />individual needs and priorities of the County and Towns. <br />Today's Date: June 23, 1992 2 <br />