Agenda - 08-18-1992 - Laserfiche WebLink

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• 1 ORANGE COUNTY BOARD OF COMMISSIONERS Action Agenda P. ACTION AGENDA ITEM ABSTRACT Item No. r Meeting Date: August 18, 1992 SUBJECT: Annual Contributions Contract --- - - - - -- Section -8- Certificate Program --------------------------- DEPARTMENT_- Housing/Community -Dev. PUBLIC HEARING YES: -_ _ __ _____ NO: x ATTACHMENT(S): INFORMATION --- - -•------------- - Resolution CONTACT: Tara L. Fikes Annual Contributions Contract TELEPHONE NtDIBgR- Hillsborough - 732 -8181 Chapel Hill - 968 -4501 Mebane - 227 -2031 ---------------------------------- Durham - 688 -7331 PURPOSE: To adopt a resolution - authorizing -the execution of -an--- Annual Contributions Contract for the Section 8 Existing Certificate Program. BACKGROUND: The County's Housing and Community Development Department presently administers the Section 8 Existing Certificate Program for 403 families in Orange County. Authority to administer this program is provided through an agreement with BUD known as an Annual Contributions Contract (ACC) covering eight different project allocations received by the County since program inception. The ACC provides the funding for the provision of housing assistance payments to eligible participants according to BUD regulations. One of our present projects consisting of 33 units expired on August 1, 1992. BUD has reserved contract authority in the amount of $209,412 to renew funding for these units for another five years, or July 31, 1997. The County was notified of this contract renewal on August 6, 1992. In order to accept this extended term, it is necessary to execute another ACC with HUD. RECOMMENDATION(S): The Manager recommends: Adoption of the resolution authorizing the Chair to sign the Annual Contributions Contract for the Section 8 Existing Certificate Program.