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6 <br /> Community Loan Fund <br /> ➢ Established in FY 2012-13 with $100,000 General Fund balance <br /> appropriation <br /> ➢ Provide no interest loans for Residents to make water and sewer <br /> connections <br /> ➢ Loans range from $3,500 to $10,000 with repayment terms up to 10 years <br /> ➢ Loans secured by Deed of Trust <br /> ➢ Five Loans Outstanding; Tax Office bills each of these residential parcel <br /> owners annually <br /> ➢ FY 2017-18 additional $200,000 transferred to the fund via Budget <br /> Amendment 10 to support additional sewer connection loans <br /> ➢ Current balance in the Community Loan Fund is $282,837 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />