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3 <br /> FFY 2015-2019 Five Year Consolidated Plan Orange County HOME Consortium, NC <br /> —9 F, M MIR AL M ff7 IN& <br /> Rq AV <br /> ills, PR ME <br /> INK A'Pff% <br /> 'NA <br /> 3 <br /> B <br /> C- kR"- 1 � <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 />