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29 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Department of Housing and Community Development <br /> Attachment C <br /> THE RISK MITIGATION AND HOUSING DISPLACEMENT FUND <br /> Overview: <br /> In an effort to maintain landlords in various Orange County Voucher and other <br /> subsidized programs; assist with housing stabilization and mitigate displacement of low and <br /> very low income residents, as well as prevent homelessness, the Orange County Board of <br /> County Commissioners (BOCC) created a demonstration program, the Risk Mitigation and <br /> Housing Displacement Fund. The Fund is administered by the County's Housing and Community <br /> Development Department. The Fund provides assistance in three (3) activity areas: <br /> • Risk Mitigation (for landlords only) —45% <br /> • Housing Stabilization (provision of assistance for security deposits, utility connections <br /> and rental payments)—30% <br /> • Displacement Mitigation Due to an Urgent Community Need (i.e. mobile home park <br /> closures) —25% <br /> The Fund was initially capitalized with a nominal allocation of$67,778 in the FY 2017-18 <br /> budget. In FY 2018-2019, the BOCC allocated $75,000 for the Fund. The percentages listed <br /> above represent the portion of the total allocation available in each of the activity areas. The <br /> County reserves the right, based on need and without prior notice, to shift funds from one <br /> activity area to another. <br /> The provision of assistance under the Risk Mitigation and Housing Stabilization activity <br /> areas are based on availability of funds and are provided on a first come, first served basis. The <br /> following paragraphs provide additional general information for each of the above identified <br /> activity areas. To be eligible for assistance under the Displacement Mitigation activity area, an <br /> individual or family must be participating in the Displacement Mitigation Assistance Program <br /> (D-MAP). <br /> Risk Mitigation: <br /> The limited assistance available under this area is only for landlords who are <br /> participating in one of the federal and/or local voucher programs. Under special circumstances <br /> relating to maintaining or expanding affordable housing opportunities, the County may provide <br /> assistance to landlords of other subsidized programs. For damages that are less than $10,000, <br /> the limited assistance is over and above any insurance proceeds that the landlord may receive. <br /> Mailing Address Main Office Satellite Office <br /> P.O.Box 8181 300 W.Tryon Street 2501 Homestead Road 12r <br /> Hillsborough,NC 27278 Hillsborough,NC 27278 Chapel Hill,NC 27516 EQUIL„r x;r <br /> Telephone 919 245-2490 • Fax 919 644-3056 •TDD 919 644-3045 <br />