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20 <br /> CALCULATING THE REQUIRED HOME AMOUNTS PER THE <br /> FY2019-2020 HUD ALLOCATION <br /> Proposed HOME FY2019-2020 Allocation <br /> $350,302 <br /> Administrative Funds <br /> $350,302 X 10% = $35,030 <br /> Required CHDO Set-Aside Based on the FY2019-2020 HUD HOME Allocation <br /> Each year HUD requires that the Consortium set aside 15% of its allocation for entities certified <br /> as CHDOs (community housing development organizations). Orange County previously had <br /> only two (2) CHDOs, CASA and Community Home Trust. EmPOWERment, Inc. submitted an <br /> application this year for CHDO certification. <br /> $350,302 X 15% = $52,545. This amount is included in the overall funding available for projects. <br /> See below. <br /> Total of the HOME Allocation Available for Projects <br /> $350,302 - $35,030 = $315, 272 <br /> Required Local Match <br /> Each year HUD requires that local participating jurisdictions provide at least a 25% match but <br /> this excludes administrative funds. <br /> $315,272 X 25% = $78,818 total local match required for FY2019-2020. <br /> The breakdown for each jurisdiction is as follows: <br /> • Town of Carrboro (15%) -- $11,823 <br /> • Town of Chapel Hill (41%) -- $32,315 <br /> • Town of Hillsborough (5%) -- $3,941 <br /> • Orange County (39%) --$30,739 <br /> Program Income <br /> Each year the Consortium approves use of the program income collected during the year. <br /> The total program income anticipated to be collected for FY19-20 is $13,306. <br />