Agenda - 04-07-20; 6-d - Approval of Budget Amendment #7-A for the Transfer of Funds from the Orange County Local Rent Supplement Program to the Risk Mitigation and Housing Displacement Fund

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_ 20 ORANGE COUNTY NORTH CAROLINA Department of Housing and Community Development THE RISK MITIGATION AND HOUSING DISPLACEMENT FUND OVERVIEW In an effort to encourage landlord participation in Orange County rental assistance and other subsidy programs, assist with housing stabilization and mitigate displacement of low-and very low-income residents, and prevent homelessness,the Orange County Board of County Commissioners (BOCC) created the pilot Risk Mitigation and Housing Displacement Fund.The Fund, which is administered by the Orange County Department of Housing and Community Development Department (OCHCD), provides assistance in three (3) activity areas: • Risk Mitigation (for landlords) • Housing Stabilization (assistance for security deposits, utility connections, and rental payments) • Displacement Mitigation (due to an urgent community need such as manufactured home park closures and natural disasters) The Fund was initially capitalized with $67,778 in the FY 2017-18 budget. In FY 2018-2019,the BOCC allocated $75,000 to the Fund. In FY 2019-2020 and in subsequent years,the BOCC will replenish the fund to maintain the $75,000 level, based on availability of funds. OCHCD reserves the right, based on need and without prior notice,to shift funds from one activity area to another. Financial assistance under the Risk Mitigation and Housing Stabilization activity areas is based on availability of funds and are provided on a first come,first served basis. To be eligible for assistance under the Displacement Mitigation activity area, an individual or family must be participating in the Displacement Mitigation Assistance Program (D-MAP) or be referred based on another urgent community need, such as natural disaster or closure of naturally occurring affordable housing complexes. The following paragraphs provide additional information on each activity areas. RISK MITIGATION Assistance under this area is available to landlords participating in the following voucher programs: • Housing Choice Voucher Program (HCV) • Permanent Supportive Housing Voucher(PSHV) • Supportive Services for Veterans and their Families (SSVF) • HUD-VA Supportive Housing (HUD-VASH) • Housing Opportunities for Persons with AIDS(HOPWA) • Orange County Rapid Re-Housing Program (OCRRHP) • Orange County Local Rent Supplement Program (OC-LRSP) • Key Rental Assistance (Key) • Transitions to Community Living Voucher(TLCV) Mailing Address Main Office Satellite Office P.O.Box 8181 300 W.Tryon Street 2501 Homestead Road Hillsborough,NC 27278 Hillsborough,NC 27278 Chapel Hill,NC 27S16 Telephone(919)245-2490• Fax(919)644-3056 •TDD(919)644-3045