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GENERAL INFORMATION AND APPLICATION INSTRUCTIONS <br /> Overview <br /> Thank you for your interest in the Orange County Affordable Housing Bond Program.The $5 million <br /> Affordable Housing Bond was passed by the Orange County Board of Commissioners in the fall of 2016. <br /> Half of the Bond funds ($2.5 million) were awarded in 2017.This application is for the remaining half of <br /> the Bond funds. <br /> Eligible Applicants <br /> Eligible applicants for the Affordable Housing Bond Program include: nonprofit organizations involved in <br /> affordable housing and community development(including faith-based organizations), for-profit <br /> developers, and joint ventures between eligible nonprofit and for-profit entities. <br /> Applicants' past performance, experience, and partnerships will be considered in reviewing applications. <br /> Incomplete or late applications may not be considered. <br /> Eligible Projects <br /> Eligible projects are new construction for homeownership and/or rental development affordable to low- <br /> income households earning no more than 80%of area median income, adjusted by family size, as <br /> defined by the U.S. Department of Housing and Urban Development (HUD). <br /> Projects may be mixed-use and/or mixed-income. No more than 20%of residential units may be set <br /> aside for people with disabilities, in compliance with best practices outlined in the State of North <br /> Carolina's Olmstead settlement agreement. For rental developments, households applying for tenancy <br /> may not be denied based on source of income (i.e., rental assistance vouchers). <br /> Land banking is not an eligible use. Construction must begin within six months of the date of funding <br /> award, and must be completed within 18 months of award. Extensions may be granted at the discretion <br /> of the Orange County Board of Commissioners and should be submitted at least four months prior to <br /> the original project completion deadline. <br /> Application Evaluation Criteria <br /> The evaluation criteria in the Attachments section will be used in reviewing and ranking applications. <br /> The County reserves the right to add additional guidelines,terms, and/or requirements that may be <br /> needed depending on the location and nature of proposed projects. <br /> Once applications are received,they will be reviewed by staff and funding recommendations will be <br /> made to the County Manager and the Orange County Board of Commissioners.The Board of <br /> Commissioners will approve or deny funding recommendations and project proposals. <br /> Project Reporting and Monitoring <br /> During development, organizations awarded Affordable Housing Bond Program funds must submit <br /> progress reports to the County quarterly to monitor progress and performance,financial and <br /> administrative management, and compliance with the terms of the performance agreement. Please <br /> submit reports using the template in the Attachments section by email to Erika Brandt at <br /> ebrandt@orangecountync.gov. <br /> After project completion, County staff and/or the Affordable Housing Advisory Board will review funded <br /> projects at least annually for performance and compliance. Monitoring may involve site and/or office <br />