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In May 2001, the County issued a Request far Proposals soliciting proposals from existing <br />county housing non-profit organizations by a deadline of May 30, 2001. A total of eight (8) <br />proposals were received by the deadline date. The eight (8) proposals requested a total of <br />$1,989,419. A summary of each proposal is provided with this abstract. Full copies of all <br />proposals, are available upon request from the Housing and Community Development <br />Department. <br />The Project Review Committee has reviewed these proposals and presents the following <br />funding recommendation. Members of the Review Committee included the County <br />Housing/Community Development Director, the County Engineer, the Finance Director, and the <br />County Planning Director as well as a representative of the Carrboro, Chapel Hill, and <br />Hillsborough Planning Departments and ABODE--the Orange County Housing Coalition. <br />Project Title Funding Request Funding Number of Units <br /> Recommendation <br />a. New Construction <br />Rental Housing <br />i. InterFaith Council <br />Freedom Park $400,000 $310,000 20 units <br />A artments <br />ii. Residential <br />Services - $385,419 $300,000 15 bedrooms <br />Continuing Care <br />Center <br />iii. Chapel Hill <br />Department of <br />Housing - $300,000, $100,000 1 unit <br />Transitional <br />Housin Pro ram <br />b. New Construction <br />Homeownership <br />i. Orange Community <br />Housing Corp. and <br />Community Land <br />Trust of Orange <br />County, NC <br />$400,000 <br />$400,000 <br />32 townhomes <br />Meadowmont <br /> TOTAL TOTAL <br /> $1,110,000 68 units <br />The Committee recommends a roughly 23 - 33% reduction in the requests in an effort to divide <br />the available funds among projects. The Meadowmont project request was not reduced <br />because it is nearest to beginning construction, which is projected to be in the Fall of 2001. <br />Further, the following proposals clearly met the bond policy criteria of a score ofi at least 60 <br />points, but'due to the limited amount of bond funds available they are not recommended for <br />fiunding at this time. Nonetheless, they are projects considered to be well structured and <br />deserving of funding. Other possible sources of funding for these proposals include the <br />County's Affordable Housing Trust Fund that is currently capitalized at $250,000. <br />