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20 <br /> <br />Commissioner Bedford referred to page 20 of the full audit report, and asked if this is <br />where the Board should be focusing most of its attention. <br />James Bence said that is the County’s budget schedule, and pages 17-20 would be <br />good schedules to look at. <br />Commissioner Bedford said it would have been helpful to have these documents in <br />advance of this meeting, in order to be familiar with them prior to having the presentation. <br /> <br />A motion was made by Commissioner McKee, seconded by Commissioner Price for the <br />Board to approve the audit contract extension per North Carolina General Statute. <br /> <br />VOTE: UNANIMOUS <br /> <br />5. Public Hearings <br />NONE <br /> <br />6. Regular Agenda <br /> <br />a. Approval of the Proposed Guidelines for the New Orange County Local Rent <br />Supplement Program (OC-LRSP) and Approval to Enter into an Agreement with <br />the Orange County Housing Authority to Administer the New OC-LRSP Utilizing <br />the Locally-Appropriated Funds <br />The Board considered voting to adopt a resolution approving the proposed program <br />guidelines for the new Orange County Local Rent Supplement Program (OC-LRSP); and <br />authorize the County Manager to execute the necessary agreement with the Orange County <br />Housing Authority to administer the new Orange County Local Rent Supplement Program (OC- <br />LRSP). <br />Sherrill Hampton, Housing Director, reviewed the information below: <br /> <br />BACKGROUND: <br />The Orange County Board of County Commissioners, at its June 19, 2018 regular meeting, <br />approved an initial $100,000 appropriation for a new local voucher program known as the OC <br />Local Rent Supplement Program. In addition, the HOME Consortium, now known as the Local <br />Government Affordable Housing Collaborative and consisting of the Towns of Carrboro, Chapel <br />Hill, and Hillsborough, as well as Orange County, approved a recommendation to award <br />$139,613 in FY 2018-19 HOME funds to be used for Tenant-Based Rental Assistance. Of the <br />aforementioned amount, $114,613 will serve as leveraged resources for the new OC Local Rent <br />Supplement Program. The remaining amount of $25,000 will be used for the Rapid Re-Housing <br />Program. The federal Department of Housing & Urban Development (HUD) approved the FY <br />2018-2019 HOME grant award on October 3, 2018, and the grant agreement was fully executed <br />on October 10, 2018 by the County Manager. <br /> <br />The new OC Local Rent Supplement Program (OC-LRSP) in many aspects mirrors the <br />federally-funded Housing Choice Voucher (HCV) Program. However, it is also designed to allow <br />for flexibility in meeting local identified housing needs. Attachment 1 provides a full program <br />overview and the proposed guidelines of the new OC-LRSP. In addition, a draft implementation <br />timeline and a copy of HUD’s FY 2019 Fair Market Rents (FMRs) are also included as <br />Attachments 2 and 3, respectively. The listed rents serve as the payment standards for the <br />rental subsidies offered under the new program. It should be noted that there has been an <br />increase in the FMRs in FY 2019 as opposed to those originally cited for FY 2018. OCLRSP is <br />able to handle the increase in rents due to the leveraging of the HOME funds.