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z <br />services including education and outreach activities, and $10,000 will be available far <br />administrative expenses. The Women's Center plans to support 20 participants in the IDA <br />Program with each participant required to save $1000 during the course of the program - 24 <br />months. Savings must be used for downpayment assistance and/or closing costs for afirst-time <br />homebuyer only. <br />A second public hearing is required after the grant application is prepared in order to receive <br />additional comments prior to submission. This public hearing has been advertised in the local <br />newspaper. Comments received will be incorporated into the application document prior to <br />submission. <br />FINANCIAL IMPACT: This grant provides the opportunity to apply for $50,000 in CDBG <br />funding for housing purposes. There is a $35,000 match requirement that the County must <br />provide in local funds - $20,000 will match participant savings; $10,000 will match the <br />administrative funding; and $5,000 will assist in the provision of housing services, The Orange <br />County HOME Consortium has allocated $20,000 in FY 2005 HOME funds to meet the match <br />requirement. County staff is proposing to provide the remaining $15,000 in match funding to <br />the program from available CDBG program income. The Women's Center will provide the <br />additional $5,000 match requirement. <br />RECOMMENDATION(S): The Manager recommends that the Board receive comments from <br />the public as additional information and approve a resolution authorizing the submission of the <br />formal application document on or about July 15, 2005, and authorize Chair to sign the <br />application document on behalf of the Board, <br />