Orange County NC Website
Browse       Search
16 <br /> receipt of a County generated invoice, reimburse the County for the Town of <br /> Carrboro's respective share of the total principal and interest associated with <br /> the installation of LMI Heritage Lot Household sewer connections within the <br /> Town of Carrboro's jurisdiction. <br /> d. The Town of Chapel Hill shall provide payment to the County of up to 43% of <br /> the current total project estimate, or $94,600, whichever is less, plus any <br /> financing costs (up to 3 percent annually) incurred by the County for the <br /> installation of LMI Heritage Lot Household sewer connections within the <br /> Town of Chapel Hill's jurisdiction unless mutually agreed by both the Town of <br /> Chapel Hill and the County. These payments are for the installation of up to <br /> fifteen (15) LMI Heritage Lot Household sewer connections within the Town <br /> of Chapel Hill's jurisdiction. The Town of Chapel Hill shall, within thirty (30) <br /> days of receipt of a County generated invoice, reimburse the County for the <br /> Town of Chapel Hill's respective share of the total principal and interest <br /> associated with the installation of LMI Heritage Lot Household sewer <br /> connections within the Town of Chapel Hill's jurisdiction. <br /> e. If overall participation by LMI Heritage Lot Households exceeds the $220,000 <br /> pre-allocated by the County, the County will request additional funds and this <br /> Agreement will be amended so as to adjust Sections 1-4 accordingly, subject <br /> to funding availability and approval by governing boards of the Parties. <br /> f. This Agreement may be renewed or amended upon written agreement of the <br /> Parties. <br /> Page 4 of 10 <br />