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Orange County, North Carolina <br /> ORANGE COUNTY <br /> HOME Consortium NORTHCAROLINA <br /> 2020 — 2025 <br /> • Consolidated Plan Summary <br /> Background <br /> The Orange County HOME Consortium (or,the Local Government Affordable Housing Collaborative) receives <br /> federal funds for affordable housing through the HOME Investment Partnerships Program (HOME).The <br /> Consortium has four members: Orange County (the lead entity) and the Towns of Carrboro, Chapel Hill, and <br /> Hillsborough. Chapel Hill also receives federal Community Development Block Grant (CDBG)funding. Like <br /> HOME, CDBG funds can be used for affordable housing, and also broader community development activities. <br /> The Consolidated Plan lays out how the Consortium and Chapel Hill will use HOME and CDBG funds over the <br /> next five years.The Plan is required to include three main components: Needs Assessment, Market Analysis, <br /> and Strategic Plan. <br /> Summaries of each component are on the back of this page. See the infographics below from the North <br /> Carolina Housing Coalition for more context on the term "affordable housing." <br /> What is Affordable Housing? <br /> Rent/Mortgage + Utilities < 30% of income <br /> 100%AMl for a <br /> family of4in2019 082 families in Orange <br /> Area is$84,800 County faced an eviction <br /> Median filing this year... <br /> Income(AMI) 30% 50% 80% I 120% <br /> � 11 ems% of all cost-burdened <br /> Extremely Very Low-Income Moderate Income renters. <br /> Low Low <br /> Income Income <br /> To afford a modest two- Average Orange <br /> bedroom apartment at: <br /> $990/month <br /> Average Annual Salaries $39 600 income needed toafford a <br /> r two-bedroom apartment <br /> # i A family needs to earn: • • - <br /> $39,600/year <br /> Food prep and service Childcare Retail sales Construction Police officer Healthcare <br /> $20,810 $22,980 $26,930 $32,150 $51,050 $71,830 <br /> But the average renter $84,800 Area Median Income(AMI) <br /> can only afford a rent of; for orange county <br /> $711/month <br /> 25% 32% 60% <br />