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4 <br />FFY 2015 -2019 Five Year Consolidated Plan Orange County HOME Consortium, NC <br />'i« «. <br />s <br />ME <br />..a� <br />m <br />Executive Summary <br />ES -05 Executive Summary - 91.200(c), 91.220(b) <br />1. Introduction <br />The Orange County, North Carolina, HOME Consortium is an entitlement community under the <br />U,S Department of Housing & Urban Development's (HUD) HOME Investment Partnerships <br />Program (HOME). Under the HOME Program, local governments are able to join together to form <br />a consortium in order to receive HOME funding for affordable housing The Orange County HOME <br />Consortium is made up of four members: Orange County, the Town of Carrboro, the Town of <br />Chapel Hill, and the Town of Hillsborough. The Town of Chapel Hill also receives federal <br />Community Development Block Grant (CDBG) funding each year Orange County is the <br />Participating Jurisdiction (PI) for the HOME Consortium <br />The primary purpose of the HOME Program is to increase the supply of affordable housing <br />Participating jurisdictions have the opportunity to identify and choose the housing activities that <br />best meet local housing needs. To ensure HOME assisted housing increases the supply of <br />affordable housing, an affordability period on assisted properties and income limits are required <br />for eligible households <br />The Federal Fiscal Year begins October 1st and ends September 30th of each year. The Orange <br />County Fiscal Year begins July 1st and ends June 30th of each year. The Federal Fiscal Year is <br />abbreviated as "FFY" and the Orange County Program Year is abbreviated as "PY" This Five Year <br />Consolidated Plan is from funds beginning with Federal Fiscal Year (FFY) 2015 which began on <br />October 1, 2014 and which will end on September 30, 2015. Therefore, the Five Year Consolidated <br />Plan is FFY 2015 -2019. However it is for the Five Year Program Year of 2016 to 2020 <br />Orange County is also the lead entity in the preparation and submission of the Five Year <br />Consolidated Plan and Annual Action Plans for each of the five years, a federal HOME and CDBG <br />OMB Control No: 2506 -0117 (exp. 07/31/2015) 1 <br />