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5 <br /> FFY 2015-2019 Five Year Consolidated Plan Orange County HOME Consortium, NC <br /> funds and a regional strategy that addresses the broader housing needs of the Consortium as a <br /> whole—for the success and betterment of the whole—for a better quality of life and economic <br /> vitality for all the communities individually and collectively, <br /> The Orange County HOME Consortium is receiving$311,832 from HOME funds for the FFY 2015 <br /> program year This is a reduction from $351,540 in FFY 2014 and a substantial reduction from <br /> $728,277 in FFY 2010,the start of the previous five year planning period. <br /> Greatest Needs <br /> The elderly population of Orange County(age 62 and above) is 15,979 persons which represents <br /> 12.1% of the total County's population However,there are 200 assisted rental housing units for' <br /> the elderly out of a total of 20,234 renter-occupied housing units which is 1.0% of the renter- <br /> occupied units. As the County's population ages in place,there will be less available elderly units <br /> and a higher demand for those units. It is estimated that at least 450 new affordable housing units <br /> for the elderly are needed <br /> As part of the Master Aging Plan, Orange County aims to offer an array of housing options that <br /> reflects the diverse preferences and abilities our older adult population portrays. Orange County <br /> needs to conceptualize a continuum of housing types to accommodate rapid growth in its senior <br /> population and then, invest in development of preferred housing models <br /> The condition of the owner occupied housing stack is fairly sound However, rental housing units <br /> range from fair to poor. Many of the higher quality rental housing units are located in the urban <br /> centers and close to the universities.The lower quality rental housing units are located in the rural <br /> areas Improved code enforcement is needed to address these housing deficiencies. <br /> There is also a lack of "accessible" housing units in the County to address the needs of the <br /> physically disabled. Not including elderly housing units,it appears that there is a need for at least <br /> 150 new housing units that are accessible to persons with physical disabilities. Presently, there <br /> are 84 accessible housing units for the disabled in LIHTC Projects <br /> There is a continuing need for "affordable" and "accessible" housing in Orange County The <br /> existing housing is sound and there appears to be an adequate supply of market-rate housing.The <br /> County has a growing population, and new construction and rehabilitation work is increasing <br /> again as evidenced by the number of building and renovation permits issued throughout the <br /> County Real estate values continue rise which benefits property owners and most homeowners <br /> However,these rising real estate values negatively impact very low-, low-,and moderate-income <br /> households who are increasingly cost-overburdened in their homes by 30 to 50 percent or greater <br /> or who cannot find affordable housing and are having to increasingly seek housing outside of the <br /> County or live in substandard conditions not by choice, but necessity. <br /> OMB Control No:2506-0117(exp.07/31/2015) 3 <br />