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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: December 2, 2019 <br /> Action Agenda <br /> Item No. 8-g <br /> SUBJECT: Approval of a Resolution Authorizing a Revision in the Resolution Adopted May <br /> 1, 2018 Which Authorized the Orange County FY 2018-2019 HOME Program <br /> Design <br /> DEPARTMENT: Department of Housing and <br /> Community Development <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Attachment 1: Resolution Authorizing a Emila Sutton, Director, Housing and <br /> Revision in the Resolution Community Development, (919) 245- <br /> Adopted May 1, 2018 Which 2490 <br /> Authorized the Orange <br /> County FY 2018-2019 <br /> HOME Program Design <br /> PURPOSE: To approve a resolution revising the resolution adopted May 1, 2018 which <br /> authorized the Orange County FY 2018-2019 HOME Program Design. <br /> BACKGROUND: The resolution approving the project activities for the 2018-2019 HOME <br /> program, adopted by the Board on May 1, 2018, included the approval of $60,000 to Community <br /> Home Trust (CHT) to provide homebuyer financial assistance for two (2) families in the <br /> Northside and Pine Knolls neighborhood in Chapel Hill. CHT's usual model is to acquire and <br /> sell a property simultaneously and provide direct financial assistance to the homebuyer. In this <br /> case, CHT wants to acquire a single-family property at 200 Culbreth Street and rehab it prior to <br /> selling it to an eligible homebuyer. CHT has requested that $15,000 of the Homeowner <br /> Assistance funds granted be used instead for the acquisition of this property. As a result, the <br /> newly revised Homeowner Assistance project activity is changed from two (2) families to one (1) <br /> household ("household" is the more appropriate term). Also, language that should have been <br /> included in the original resolution that the financial assistance must be provided to a household <br /> earning 80% or less AMI is added. The requested amount is reduced from $60,000 to $45,000 <br /> so that $15,000 can be transferred to the new project activity. <br /> A new Acquisition project activity is added to provide for CHT's acquisition of property for sale to <br /> a household earning 80% or less AMI. Since the intended property is not in the Northside/Pine <br /> Knoll neighborhood, this language is not included. The requested amount is $15,000, and the <br /> sum of the two project activities remains unchanged at the originally approved $60,000 and the <br /> number of intended beneficiaries remains at two (2) households. <br /> FINANCIAL IMPACT: There is no negative financial impact to the County. <br />