Agenda - 5-a - Orange County Consolidated Plan – Annual Action Plan Update and Proposed Uses of the FY 2019-2020 HOME Funds

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16 Attachment 2 ORANGE COUNTY HOME PARTNERSHIP INVESTMENT PROGRAM Summary Sheet for FY2019-2020 Proposed Projects Revised Draft 05/07/2019 Name of Applicant Proposed Project Activity& Brief Description Proposed Geographic Area Amount Requested/Collaborative Recommended Funding Amount EmPOWERment, Inc. Rental Acquisition The Fidelity Street Neighborhood (Hillmont $304,800/$85,000* The acquisition of two(2) units for affordable rental purposes in the Apartment Complex) in Carrboro Hillmont Apartment Complex in Carrboro, NC. The units to be acquired are one(1) bedroom each. The target population consists of households earning between 30%-80%of the Area Median Income. EmPOWERment originally proposed to leverage$25,000 *-Note that EmPOWERment has applied as a from the United Way of the Greater Triangle plus$5,000 from its CHDO. If the organization completes the own operational funds. The original total project cost was$304,800 requirement process,then they would also be and included three(3) units. The amended total project cost is funded $60,201 in CHDO funds for the $152,800.The leveraged funds will be reduced as applicable and proposed project. Currently, EmPOWERment will be used to pay for any needed repairs to the units. is undertaking the needed revisions to meet the CHDO requirements. Habitat for Humanity Second Mortgage Assistance The Fairview Community in Hillsborough and $240,000/$181,392** Habitat originally proposed to use the funds for second mortgage the Northside Neighborhood in Chapel Hill. assistance for eight(8) homes. The recommended award addresses ** -The recommended award increased from six (6) newly constructed homes in the identified communities in $180,000 to$181,392 due to the use of FY18- Orange County.The target population consists of households 19 HOME funds in addition to the earning between 30%-80%of the Area Median Income. The revised recommended award above for total project cost is$722,430. EmPOWERment. Orange County—Countywide TBRA Countywide $139,613/$141,004** Tenant-Based Rental Assistance ** The recommended award for this category The County will use the funds for Rapid Re-Housing and general increased slightly due to the use of FY18-19 rental assistance activities, including utilities and security deposit HOME funds in addition to the recommended payments for homeless and other low income persons. award above for EmPOWERment. TOTAL $684,413***/$407,396 *** - The original amount requested exceeds the anticipated HUD award of$350,302 plus the required local match of$78,818 and program income of$13,306. Orange County learned of its anticipated HUD award amount in mid-April. However, the amount may still change by the time HUD sends the actual grant award. In addition to the $407, 396 for projects, there is $35,030 for administrative purposes. The grand total of the HUD award plus local match and program income is $442, 426.