Agenda - 06-14-2001-2b - Laserfiche WebLink

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B-3 6. Renovations to Orange High School Total Amount $950,000 Funded b Other Sources 1 0 Amount Re nested to be funded b the Bond $950,000 Description of the Projects: • Renovations include new fire alarm and intercom systems, enhancements to ceilings and. lighting, replace external doors, and renovate media center and cafeteria 7. Hillsborough Elementary Renovation/Central Office Expansion Total Amount $3,090,000 Funded b Other Sources 1 0 Amount Re nested to be funded b the Bond $3,032,000 Description of the Projects: • Renovation of Existing Office Space at Hillsborough Elementary to provide 12 Additional Classrooms and expand year round program capacity from current 414 students • Expansion of East King Street Central Offices for Administrative Staff relocated from Hillsborough Elementary/House .all administrative personnel at one facility Affordable Housing S. Affordable Housing $4,000,000 • There are approximately 12,281 households in the County experiencing housing problems and it is estimated that approximately six (fi) percent of the total housing need (703 units) can be addressed during the next five (5) years. • $4 million dollars in bond funds will provide approximately 200 affordable housing units calculated at a total public subsidy of $20,000 per unit. These funds will address 28% of the short-term housing target of 703 units in the next five (5) years. • Additionally, $4 million in housing bond funds will generate approximately $22.4 million in affordable housing stock. (200 units x $112,000 (estimated cost per unit) _ $22.4 million) • Types of housing activities to be implemented in the Housing Bond Program include renovation of existing dwellings; the construction of new dwelling units; and the acquisition of land for future housing development for low income renter and owner-occupied families.