Orange County NC Website
Browse       Search
3 <br />RESOLUTION AUTHORIZING <br />THE ORANGE COUNTY 2005-2006 HOME PROGRAM DESIGN <br />BE IT RESOLVED, by the Orange County Board of Commissioners as a member of the Orange <br />County HOME Consortium approve following activities for the 2005-2006 HOME Program.. <br />Property Acquisition <br />Funds would be allocated to the Town of Hillsborough to acquire and renovate a dwelling unit in the <br />Fairview community to resale to a first-time homebuyer earning less than 80% of area median income, <br />(Requested amount $100,000) $100,000 <br />Funds would be allocated to the Chrysalis Foundation to acquire property for a permanent supportive <br />housing project that would provide housing for chronically homeless individuals and families, <br />(Requested mnount: X200,000) $100,000 <br />Funds would be allocated to Orange Community Housing and Land Trust to acquire, demolish, or <br />renovate (if necessary and appropriate) housing in the Northside neighborhood in Chapel Hill. <br />(Requested arnomrt: $100,000) $100,000 <br />Homeowner Assistance <br />Funds would be allocated to Habitat for Humanity to provide four (4) deferred second mortgages to first- <br />time homebuyers with incomes below 80% of median income in the Richmond Hills subdivision.. <br />(Requested amomrt: $80,000) $80,000 <br />Funds would be allocated to Orange Community Housing and Land Trust to provide down-payment <br />assistance for up to three newly constructed townhomes in the Pacifica development in Carrboro. The <br />dwelling units will be developed by the private sector, and then placed in the Land Trust. Eligible <br />families would be first-time homebuyers with incomes below 80% of median income, <br />(Requested amorort: ISIS,000) $15,000 <br />Funds would be allocated to EmPOWERment to provide second mortgages to three (3) first-time <br />homebuyers earning less than 80% of the area median income to buyers of the planned new <br />condominiums on Davie Road in Chapel Hilh <br />(Requested amount: $7.5,000) $75,000 <br />Funds would be allocated to Orange County to serve as match funds for a FY 2005 Individual <br />Development Account (IDA) Program that will serve first-time homebuyers below 80% of area median <br />income. <br />$25,000 <br />Operational Support <br />Funds would be allocated to Orange Community Housing and Land Trust as a Community Housing <br />Development Organization for administrative expenses. <br />(Requested amowrt: ISLS, 000) $15,000 <br />New Construction <br />Funds would be allocated to Habitat for Humanity to provide funding for pre-development costs related <br />to the development of a 17-acre vacant tract of land on Sunrise Road in Chapel FIill. <br />(Requestedmnowrt: X70,000) $70,000 <br />Funds would be allocated to Habitat for' Humanity to provide funding for infrastructure development of <br />Phase II of the Rusch Hollow project located on Rusch Road in Chapel Hill. Habitat plans to build at <br />least I2 dwelling units for sale to first-time homebuyers earning less than 60% of the area median <br />income, <br />(Requested amount: $200,000) $100,000 <br />