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investment of $100,000 to this project due to the limited amount of HOME funds <br />available this fiscal year, <br />z <br />2. Habitat for Humanity requested $200,000 in HOME funds for infrastructure development <br />of Phase II of the Rusch Hollow project in Chapel Mill. The Committee recommends <br />allocating $100,000 to this project given that the Town of Chapel Hill allocated $100,000 <br />in Community Development Block Grant funds thus providing Habitat the requested <br />$200,000 in fulh <br />3. Inter-Faith Council for Social Services (IFC) requested $250,000 in HOME funding for <br />pre-development costs related to the development of a Residential Center for homeless <br />men. The Committee recommends allocating $75,000 to this project as an initial <br />investment rather than providing full funding at $250,000 for the following reasons: <br />a. Lack of a specified site for the Center; <br />b. Concern regarding the ability to meet the time restrictions of HOME funding that <br />requires project commitment within two years of funding award given no site is <br />identified when the "clock" begins in .July 2005; <br />c. Concern that funds spent far pre-development costs could be spent for a site that <br />is later rejected thus yielding no direct beneficiaries; and <br />d. The inability to fully fund all funding applications since the amount of requests <br />exceeded the amount of available funds, <br />It should be noted that the Town of Chapel Hill has allocated $25,000 for this project, <br />thus a total of $100,000 in funds will be available to IFG during the 2005-2006 fiscal year, <br />Additionally, a $75,000 request for second mortgage funds from EmPOWERment, Inc, was not <br />included in the recommendation because previously awarded second mortgage funding <br />remains available to this organization to assist first-time homebuyers with their initial purchase, <br />Also, during the public comment period, the Sunrise Coalition submitted a written memorandum <br />dated April 11, 2005 detailing their opposition to the allocation of $70,000 in HOME funding to <br />Habitat for Humanity of Orange County, NC, Inc. for the proposed Sunrise Ridge development <br />in Chapel Hill. <br />In accordance with the HOME Program Consortium Agreement, the 2005 HOME Program <br />Design must be approved by all jurisdictions prior to submission to HUD with the FY 2005 - <br />2010 Consolidated Housing Plan. The Program Design is scheduled for consideration for <br />approval by the Town of Carrboro on May 3, 2005; and the Towns of Chapel Hill and <br />Hillsborough on May 9, 2005. <br />FINANCIAL IMPACT: The Orange County HOME Consortium is scheduled to receive <br />approximately $707,000 in federal housing program funding. The required total local <br />government match is $159,287, Orange County's share of the match is $63,715, <br />RECOMMENDATON(S): The Manager recommends adopting a resolution approving the <br />proposed HOME Program activities for 2005-2010 and authorizing the Manager to implement <br />the HOME Program as approved by the BOCC including the ability to execute agreements with <br />partnering non-profit organizations after consultation with the County Attorney, <br />